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Faraday stresses it remains committed to the state of Nevada.

California-based, China-backed EV startup Faraday Future has shot down a recent report that claims the factory it's building in Las Vegas, Nevada, will be much smaller than initially announced.The company stressed that it's not scaling back its original plans. The first stage of the construction process -- which included massive grading -- was completed last November, but the project screeched to a halt shortly after because Faraday allegedly found itself in dire financial straits.

However, the company is confident that the second stage of the process -- which will involve actually building the facility -- will begin in a timely manner. Officials want to start production of the all-electric FF91 (pictured) as fast as possible, though a more specific time frame hasn't been provided yet.

"Faraday Future remains committed to the State of Nevada and our $1B investment in the region over the next few years," affirmed the company in a statement published on its official website.

Interestingly, the news that Faraday had downsized its factory due to financial issues came straight from Dr. Qiong Liu, North Las Vegas' city manager. He told local broadcaster 8 News NOW that the floor plan had been reduced to just 650,000 square feet, or less than a quarter of the planned layout.