Faraday Future, the California-based Electric Vehicle company that's backed by Chinese investors, is in financial turmoil. Facing insolvency this year, Hong Kong-based Evergrande Healthcare came to its rescue with a billion dollar injection. But now, that relationship has strained and Faraday's Future once again looks murky. Mark Niu takes a look at the rise and fall of an electric car company badly in need of a charge.

January 2016, at the world's largest consumer electronics CES, tech startup Faraday Future cames out of stealth mode, unveiling a concept EV that claims to produce 1000 horsepower. With 750 employees hired globally and plans to open a manufacturing facility in Nevada, it's full speed ahead.

One year later at CES, it held the show's most dramatic event, showing how some of the world's fastest cars, like a Ferrari, can't compare to the acceleration of its new prototype, the FF 91. Test drives bore out that.

MICHAEL COATES EDITOR, CLEAN FLEET REPORT "To build a really well-performing car, a fast car, takes a lot of work. I would rather have engineers that know how to build a really cost-effective car that can drive costs out. I think that the odds are definitely stacked against Faraday Future ever getting any volume production."

But at their 2017 event, when Faraday Future's main financial backer, LeEco founder Jia Yueting appeared on stage to push the auto park button, nothing happened. More car trouble lingered with construction firms accusing Faraday of failing to pay them as its Nevada factory stalled.

NICK SAMPSON CO-FOUNDER, FARADAY FUTURE "We feel fully confident. It's not how well you do in the good times, it's how you push through the challenges and the barriers that come at the harder times."

Sampson recently quit, meaning two of its three co-founders are now gone leaving only LeEco founder Jia to preside over the company. Jia's LeEco has already crashed and burned after having glitzy U.S. events promising phones, VR, electric cars and a massive Silicon Valley campus called EcoWorld.

MARK NIU SAN FRANCISCO "And this is what LeEco's Silicon Valley office looks like today. The doors are locked, the lights are out and no one's inside. It's now available for lease."

But cash-strapped Faraday Future was thrown a lifeline when Chinese Conglomerate Evergrande Health, stepped in to pledge two billion dollars in funding. It wasn't long before Evergrande accused Faraday future of undermining its shareholder rights and withheld funding, prompting Faraday Future to issue a statement saying, "Evergrande failed to make any of the promised additional payments beyond the original 800 million dollar investment."

MICHAEL COATES EDITOR, CLEAN FLEET REPORT "People were given two choices: Either continue to work and not get paid or just go home. There's no money coming through. From the folks I know at Faraday Future, they really expect there is relief that's going to be coming from the courts to get them ongoing funding."

Coates says the employees that remain still hold out hope that the cars they've built will someday hit the market, perhaps beating the odds by proving Faraday has a future. Mark Niu, CGTN, San Francisco.