Faraday Future is cancelling its plans to build a fancy new $1 billion factory in Nevada. That really should come as no surprise. The company stopped construction on the proposed project last year, after falling behind in payment to AECOM, the global construction company hired to do site work for the factory.
Second Factory Nixed
Since then, the company has abandoned plans for a second factory and “customer experience center” on Mare Island, a former Navy base in San Francisco Bay that is being developed into an industrial park. Faraday Future did bring a car to the Pikes Peak hill climb this year, but it is only a prototype of the all electric SUV the company would like to build — someday. It is also involved in Formula E racing with the Dragon Racing team.