Gardena electric car start-up Faraday Future announced Thursday that it will build a $1-billion production plant in Nevada, a major move for an upstart rival to Tesla Motors.
The expansion comes on the heels of one from Tesla, which last year announced plans to build a $5-billion battery factory outside Reno. The state offered one of the largest incentive packages ever given by a state — $1.3 billion in tax abatements and other perks — to lure the Palo Alto electric car maker.
Faraday Future, which is backed in part by a Chinese media billionaire but has yet to build a car, was considering four states, including California, for the production facility. The final selection was influenced in part by a $335-million package of tax incentives and infrastructure investments offered by Nevada Gov. Brian Sandoval, company representatives said.
Dag Reckhorn, Faraday Future’s vice president of global manufacturing, said the incentives from Nevada were an “important piece” of the decision but not the only factor. He said Nevada was also appealing because of the ample land needed to accommodate the plant, and it was close enough to Southern California seaports.
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