Faraday Future Abandons Production Plant as Chinese Backer Goes Bust

Faraday Future, the American electric vehicle startup backed by LeEco founder Jia Yueting, has abandoned plans to construct its now infamous $1 billion factory in Nevada due to severe financial woes. It's another nail in Faraday's coffin as the firm was claiming it would resume construction of the plant less than six months ago. Work at […] The post Faraday Future Abandons Production Plant as Chinese Backer Goes Bust appeared first on The Truth About Cars. from The Truth About Cars http://ift.tt/Jh8LjA