Mysterious EV maker, Faraday Future, signs new Nevada factory deal
The mysterious electric vehicle start-up, Faraday Future, is heading to Nevada (the same state where Tesla is building its gigafactory, coincidence or not?), to build its own factory worth $1bn. The Governor of Nevada, Brian Sandoval, and Faraday Future's Vice President of Manufacturing, Dag Reckhorn, made the announcement during a press conference in Las Vegas on Thursday, however the deal is still subject to legislative approval. "I'm happy to share with you that we have selected Nevada to be the home of the first global manufacturing site for Faraday Future," said Reckhorn. Reckhorn went on to say that once the plan is permitted, the company is going to put in $1bn in a three million square foot facility on 900 acres. The official, who once served as the director of manufacturing for the Tesla Motor S from 2009 until 2013, added that the huge project is going to generate 4,500 direct jobs.

Last month, Faraday Future announced that it was considering sites in California, Georgia, Louisiana, and Nevada for a $1 billion electric-car plant.

Now, it appears Nevada is the preferred location for the plant, which will build the electric car Faraday plans to launch in 2017.

Faraday--which is backed by Chinese billionaire Jia Yueting--could apparently break ground at a site in North Las Vegas as soon as January.

DON'T MISS: Faraday Future Plans $1 Billion Electric-Car Factory, Site TBD

The nascent carmaker expects the factory to have 4,500 employees earning an average $22 per hour, reports Bloomberg.

This is the second major electric-car manufacturing project Nevada has landed recently, the first being the Tesla battery-cell "Gigafactory" currently under construction just outside Reno.

Tesla also considered a handful of states for the factory, which it claims will be the world's largest lithium-ion cell production site when it is fully operational.

Image from Faraday Futures online sites, July 2015

The Silicon Valley carmaker was ultimately wooed in part by the promise of a tax-incentive package worth over $1 billion.

So far, Nevada is reportedly prepared to offer Faraday $215 million in tax incentives and credits over 15 years, including a total write-down of sales taxes. These measures still need to be approved by the Nevada legislature.

State officials believe the Faraday plant will have a total economic impact of $85 billion over 20 years, and generate $760 million in tax revenue during the same period.

ALSO SEE: More Faraday Info: Chinese Billionaire Backer, Ex-Tesla Staff For Electric-Car Startup

It's also hoped that Faraday can revitalize North Las Vegas, a suburb of Sin City that experienced significant growth in the early 2000s, but was nearly insolvent by 2012.

North Las Vegas has been courting Faraday for its Apex Industrial Park, a 2,000-acre patch of desert transformed by medical marijuana growers into a site suitable for commercial development.

Faraday currently operates out of a former Nissan research facility south of Los Angeles, and has offices in China and Germany as well.

Faraday Future

While the company claims to have 400 employees, little else is known about it.

The connection to Jia--founder of Chinese media giant LeTV--was only revealed recently, when Faraday's incorporation papers were made public.

A list of employees from car companies like Tesla and BMW seems to be the basis for most claims about Faraday's credibility.

MORE: Faraday Future Electric Car Concept Coming To 2016 CES

The company will unveil a concept version of its electric car at the 2016 Consumer Electronics Show which, coincidentally, is held in Las Vegas.

While little information has been revealed, Faraday is expected to emphasize smartphone-connectivity technology, and may build in some autonomous capabilities as well.

Faraday is also thought to be considering a subscription-based business model that would allow it to pull revenue from customers longer after they drive away from the dealership.

This could take the form of content supplied through the onboard infotainment system, or a plan that allows customers to request different types of vehicles at different times.

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