Tesla rivals: A lane change for one electric car maker, another looks to keep it in drive

The race for other electric car makers to compete with Elon Musk’s Tesla Inc. (Nasdaq: TSLA) has just seen some lane changes.

Faraday Futures is scrapping plans for a new $1 billion plant in Las Vegas to produce electric cars and SUVs. The California startup will instead look for an existing facility, according to CNBC and other reports.

Deserting the plant comes as one of Faraday’s big backers, Chinese tech billionaire Jia Yueting has had some other assets frozen by a Shanghai court.

In Arizona,…

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