PHOTO CAPTION: Faraday Future funder Yueting Jia is consider the Elon Musk of China

Faraday Future Selects N. Las Vegas

Chinese billionaire leads investor group to build Tesla-competitor in North Las Vegas with $1 billion investment in solar-powered factory.

Published: 15-Dec-2015

Yueting Jia is reputed to be the Elon Musk of China, parlaying his Internet company LEtv into a communications powerhouse, delivering television programming through the Web. Now it appear he's determined to follow Musk's lead by starting his own electric car company called Faraday Future, not to be confused with Faraday the electric bicycle maker. And like his South African-born counterpart, he's planning to build an massive factory in Nevada, according to reports in both the Wall Street Journaland New York Times, Jia's group of investors are planning to invest up to $1 billion in a start-of-the-art, 900-acre assembly plant in North Las Vegas, Nevada after being offered some $215 million in incentives from the state. The company had considered locations in California, Georgia and Louisiana.

Artist's illustration of proposed 900-acre Faraday Future electric car assembly plant in North Las Vegas, NV.

Formed in 2014, the company has been very tip-lipped about its product development, though that is slated to change on January 3rd at the Consumer Electronics Show in Las Vegas, when they have promised to debut their prototype. The company is claiming that it will begin delivering cars as early as 2017, clearly a daunting schedule by any stretch of the imagination.

So, stay turned, we should know more after the first of the year what it is Mr. Jia and his investors have up their shelves.

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