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Faraday Future To Build Plant In North Las Vegas

A Chinese-backed electric carmaker plans to build a $1 billion manufacturing plant outside Las Vegas.

A letter to Nevada officials that The Associated Press obtained Wednesday says the company will build in North Las Vegas. The letter is signed by billionaire Chinese investor Jia Yueting, a major financial backer of California-based Faraday Future.

Nevada officials scheduled a news conference Thursday to formally announce the deal.

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Lawmakers still would need to authorize tax incentives as part of the deal. Last year, the Legislature did so to secure a massive battery factory by another upstart electric carmaker, Tesla Motors.

Faraday Future wants to bring a vehicle to market as early as 2017. It said California, Georgia, Louisiana and Nevada were factory finalists.