Faraday’s Big Plant Going to Nevada

North Las Vegas has been courting Faraday for its Apex Industrial Park, where medical marijuana growers have helped transform 2,000 acres (809 hectares) of vacant desert into a site with water and power lines suitable for development.

Nevada plans to offer $335 million in state tax incentives and infrastructure upgrades to an upstart, Chinese investor-backed electric carmaker that wants to build $1 billion production plant in a Las Vegas suburb.

Earlier this year, Tesla broke ground on its $6 billion Gigafactory near Reno, which will manufacture lithium-ion batteries to power Tesla’s Model S, Model X and forthcoming Model 3 electric vehicles.

Here are highlights of the agreement that Nevada officials hammered out with the company over the course of a year.

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

In its mission statement, the company says that “today’s cars do not meet today’s needs”.

Nevada is prepared to offer $215 million in tax incentives and credits over 15 years, including a total writedown of sales taxes, Hill said, subject to approval by the state Legislature.

Once the company hits the threshold of investing $1 billion in the project, it could tap into the money stored in the trust fund.

Faraday Future will receive an estimated $215 million in tax abatements and incentives if legislators approve a package for the electric vehicle company during a special session next week, Gov. Brian Sandoval announced this morning. Projects include widening a five-mile stretch of US-93 near the park and constructing a “flyover” section of road to make it easier and safer for vehicles to enter the complex off the highway.

“With each economic success, they take their place alongside gaming, mining agriculture and construction – the traditional and steadfast pillars of our economy”, Sandoval said.

Jia Yueting, who own a Chinese online video firm, has sent a letter to the Nevada legislature detailing his plans to develop a final assembly plant for making electric cars for his new firm – Faraday Future. Like Tesla, Faraday will need to show that at least half of its workers are from Nevada.