Faraday Future cancels plans for North Las Vegas factory

It's really not funny anymore. The long and often comical tale that is Faraday Future has taken another turn for the worse as the automaker announced it was abandoning plans for a production facility in North Las Vegas, Nevada. Instead, the Las Vegas Review-Journal reports Faraday Future plans to purchase an existing building, saving the time and cost of building an all-new facility. 25 employees were notified, though it's unclear if they were let go or will be reassigned.

This is a huge blow to the automaker's image. Everything from the awkward CES reveal this year to the financial troubles of Chinese investor Jia Yueting has spelled trouble for Faraday. In February, the plans for the North Las Vegas facility were downsized from 3 million square feet to just 650,000 square feet. LeEco, the Chinese company behind Faraday Future, sold off land in Silicon Valley to pay debts. Faraday plans to keep the 900 acres in North Las Vegas, but it's unclear what it will be used for.

There is some good news. Faraday says they have most of the equipment needed to build the vehicles and that it just needs a place to store the machines and set up an assembly line. Presumably, once a suitable facility is found, production can begin. We'll believe it when we see it.

Related Video: