Faraday Follows Tesla to Nevada for $1 Billion Auto Factory

Faraday Future, the electric-vehicle startup backed by Chinese billionaire Jia Yueting, plans to manufacture its first car in 2017 at a $1 billion factory near Las Vegas, company and Nevada officials said.

North Las Vegas prevailed over cities in California, Georgia and Louisiana as the site of California-based Faraday’s first manufacturing operation, which may break ground as soon as January. Rival Tesla Motors Inc. is building the world’s largest lithium-ion battery factory east of Reno after choosing Nevada over four other states.

“This solidifies Nevada as the place where the future of transport is happening,” the state’s economic-development director, Steve Hill, said Thursday on a conference call with reporters. “People throughout the globe, throughout the country, are talking about Nevada. This is an exceptional opportunity.”

Read more from Bloomberg.com here!

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