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Chinese-backed Electric Carmaker Announces Plans for $1B Plant

Photo credit: Twitter/Yueting Jia

California-based electric car company Faraday Future announced grand plans this week to build a $1B manufacturing plant, setting up shop near Las Vegas.

The move is backed by Chinese billionaire investor Jia Yueting—who styles himself after Apple founder Steve Jobs—who says he plans to revolutionize the automobile industry by somehow protecting Earth and improving the "environment of mankind."

Be that as it may, the plant is expected to sit on 600 acres in North Las Vegas’s Apex Industrial Park with an expected 4,500 new jobs added to the region.

The automaker's choice of Nevada (over three other states) is contingent on state lawmakers’ approval of favorable tax incentives, which have yet to be revealed to the public. [APN]

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