A Chinese-backed electric carmaker plans to build a $1 billion manufacturing plant outside Las Vegas.
A letter to Nevada officials that The Associated Press obtained Wednesday says the company will build in North Las Vegas. The letter is signed by billionaire Chinese investor Jia Yueting, a major financial backer of California-based Faraday Future.
Nevada officials scheduled a news conference Thursday to formally announce the deal.
Lawmakers still would need to authorize tax incentives as part of the deal. Last year, the Legislature did so to secure a massive battery factory by another upstart electric carmaker, Tesla Motors.
Faraday Future wants to bring a vehicle to market as early as 2017. It said California, Georgia, Louisiana and Nevada were factory finalists
North Las Vegas Mayor John Lee commented on the decision by Faraday Future to build a manufacturing plant in North Las Vegas as well as a special session by the Nevada State Legislature.
“I look forward to working with the legislature to give North Las Vegas the tools to succeed and ensure the success of our entire region. This is a transformation opportunity for our community and Faraday is a fantastic company which demonstrates it’s a new day in North Las Vegas.”
Govenpr Brian Sandoval is scheduled to hold a press conference on Thursday, that is described as "a major economic development announcement" that may be linked to Faraday Future coming to North Las Vegas.