Self-Driving Car Startup Faraday Future Won't Build $1 Billion Las Vegas Factory

Self-driving car startup Faraday Future will back away from plans to build a $1 billion assembly factory in Las Vegas amid continuing financial problems for the company. In a statement via the Nevada Independent, Faraday Future chief financial officer Stefan Krause said the startup will focus on other quicker ways to reach its production goals. "We have decided to put a hold on our factory at the Apex site in North Las Vegas," Krause said. "We remain committed to the Apex site in Las Vegas for long-term vehicle manufacturing." For Faraday, the shift in plans for one of its flagship initiatives is a significant step back for the company.