Las Vegas Chosen As Site for $1 Billion Auto Plant

Faraday Future, the electric-vehicle startup backed by Chinese billionaire Jia Yueting, has chosen Las, Vegas, Nevada for the company’s planned $1 billion U.S. factory.

According to Yueting, he hopes to bring his $1 billion investment to North Las Vegas to open the company’s first manufacturing facility, which is expected to create about 4,500 jobs.

The company plans to introduce its first car in 2017, after unveiling a concept next month at the CES electronics show in Las Vegas.

Faraday spokeswoman Stacy Morris said last month that the company also was considering sites in California, Georgia and Louisiana.

Separately, Nevada Governor Brian Sandoval will hold a press conference Thursday morning in Las Vegas with Steve Hill, director of the state’s Office of Economic Development. Sandoval will probably have to convene a special session of the legislature to approve any tax incentives.

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