Electric car manufacturer Faraday Future announced it’s pulling the plug to build a factory in Vallejo California, near San Francisco.
It’s the latest news in what seems to be a series of setbacks for the company which hopes to challenge Tesla with its own high performance electric car.
The company said it will now focus on completing its first factory in North Las Vegas. Work on the $1 billion factory came to a halt in November amid reports that privately held Faraday was facing a cash crunch.
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North Las Vegas mayor John Lee recently toldKNPR’s State of Nevada that the plans for the factory near Apex are still moving forward.