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Faraday Future picks Nevada for its $1 billion electric vehicle factory

faraday-future-rear-view-teaserAccording to a letter the company sent to Nevada officials Wednesday (via Auto News), Faraday Future says it plans to build its $1 billion electric vehicle factory in North Las Vegas.

The letter is signed by Chinese billionaire Jia Yueting, the CEO of China-based tech company Leshi (LeTV), which is financially backing Faraday Future.

Until recently, the company said it was still considering several locations for the factory including California, Georgia, Louisiana, and Nevada. It will join other important transportation projects in Nevada including Tesla’s Gigafactory and Hyperloop Technology’s open-air test track.

Nevada Governor Brian Sandoval will hold a press conference Thursday morning in Las Vegas with Steve Hill, director of the state’s Office of Economic Development, but it’s not official at this point if it will be about Faraday’s project.

The company is expected to move fast since it revealed its goal to bring to market its first vehicle in 2017 and to unveil the concept at CES 2016 in just a few weeks.

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