Tesla Rival Faraday Future Plans Factory, Concept Car

California-based electric auto start-up Faraday Future (FF) on Thursday announced a decision to build a $1 billion production facility in a suburb of Las Vegas, Nevada.

In 2014, Nevada Gov. Brian Sandoval convened a special session to approve tax incentives worth as much as $1.25 billion for Tesla’s Reno factory. It is also estimated to create thousands of construction job opportunities. The total economic impact of Faraday’s arrival is projected to be $85 billion over 20 years, mostly through wages.

Brinley said traditional companies are probably already considering what Faraday Future calls unique solutions.

Faraday is one of several startups in China and the United States focussed on building electric cars to rival Tesla’s.

Nevada beat California as well as Georgia and Louisiana in the competition to be home for the plant. “We prayed for this day, but we didn’t know if we’d see this day”, North Las Vegas Mayor John Lee said.

The public will get a first glimpse of Faraday’s plans on January 4 when it reveals a concept vehicle ahead of the 2016 CES show in Las Vegas.

Dag Reckhorn, vice president of global manufacturing for the company, promised a plant that will be “environmentally friendly and technologically advanced”.

The new factory will be just as advanced as its electric vehicle, FF said.

“Our search evaluated locations across the USA and Mexico, taking a balanced view of numerous economic, non-economic and timing considerations to support Faraday Future’s goal to find the optimal location to launch its brand and production”, added Mace. Yueting is founder and chairman of Leshi Television, a Chinese online video site.

In luring Faraday to Nevada, state officials committed to providing workforce development programs to train 4,000 workers. While North Las Vegas has pushed for the creation of a water pipeline to Apex, water for Faraday will be pumped from the ground.

“The technology is going to be the payoff, rather than the end product”, O’Connell said in an interview.

Rindels reported from Carson City, Nevada.