Chinese billionaire Jia Yueting, who backs the startup electric car company Faraday Future, recently expressed confidence in the project, despite the company's financial problems and rumored over-extension.

"The scale of the Faraday Future factory will not shrink; instead, it will try to guarantee the on-time delivery of FF91. Wait and buy the car at the end of March," Jia wrote on his Weibo account.

The FF91 was unveiled at the Consumer Electronics Show in Las Vegas in early 2017. According to information at the expo, 300 units of FF cars will be on sale starting in March 2017, and public sales will begin in 2018.

However, Faraday Future still needs to finalize work on its factory, which is located in northern Las Vegas, Nevada. The company is also in the process of gathering the required funding. But the capability of investors was only recently called into question, since work on the plant was halted in October 2016 after Faraday Future reportedly missed payments to contractors.

According to Reuters, the seven models of electric vehicles included in the original plan will be reduced to two models, and Las Vegas officials said the scale of the plant will be reduced as well. The report noted that the factory's annual output will be 10,000 units, down from the original plan of 150,000, and the plant might not be finished until 2019.

On Feb. 5, Faraday Future announced on its microblog, "The orders for our cars have far exceeded expectations. We will not shrink the construction of the factory. The second phase of the phase one project will begin soon."

“The plan to invest $1 billion in the plant in Nevada will not change,” reads an announcement on the company's official website.

According to the Reuters report, Jia plans to raise a Series A round of investment in late 2017, with the aim of launching an IPO in 2020, when the company's electric car output has reached 1 million units. However, Faraday Future did not comment on the plan.

“Regarding funds for the car, we believe there will be breakthrough in the months to come,” Jia said at an investors meeting on Jan. 16.