Posted on 12/10/2015 10:38:23 AM PST by redreno
CARSON CITY Faraday Future has picked the Apex area in North Las Vegas for a $1 billion auto plant expected to start producing electric cars as early as 2017.
In a letter to state lawmakers that circulated Wednesday, Faraday financial backer Yueting Jia said: "We hope to bring our $1 billion investment to North Las Vegas and open our first manufacturing facility there, creating 4,500 jobs for the state of Nevada."
Gov. Brian Sandoval on Thursday will announce the agreement at an 11 a.m. news conference at the Sawyer Building in Las Vegas.
Any deal will require a special session of the Nevada Legislature to approve a tax incentive package for the company. It is expected to start Dec. 16 and run at least through Dec. 18.
In his letter, Jia, a billionaire founder and CEO of Letv, a Beijing-based online video company often compared to the U.S.-based Netflix, indicated that while he didn't want to reveal "details of my investment" in Faraday, he was compelled by state leaders to provide some information to lawmakers
(Excerpt) Read more at reviewjournal.com ...
Did Dingy sell them the land?
Another Harry Reid payoff.
Why would I trust a Chinese investor?
At least he can't take the company back home (Beijing) with him.
“Did Dingy sell them the land?”
He was a bag man for “Mustang Ranch” Conforte, so he probably will get paid with a tossed brown paper bag : )
Taxpayer gets hosed every time a subsidy or tax deal is proposed for any ‘green energy crap’.
2017? To build a huge plant, staff it and get it up and running? That would be a very fast pace under the best of circumstances, even if the greased the right palms and wheels............................
How much of my tax money will this cost?
WHEW, for a moment I thought the great Michael Faraday came back from the grave...
Why build a factory in a desert? I would pick a more central located place with more water and infrastructure, but that’s just me.
Probably a bad investment for the state of Nevada and for anyone who owns Faraday stock. When the subsidies run out, the company will collapse.
People will know electric car technology is ready for production when:
1. A company announces it is building a plant without (a) government a$$I$tance and (b) without government $ub$idieS.
and
2. They are building the plant in Fargo, North Dakota because their batteries are efficient enough at subzero temperatures to make no difference where they and the vehicles are assembled.
All auto factories built in the last 30 years get tax breaks.
All oil production gets tax breaks , for the last 120 years.
The Faraday “subsidy” is not paying as much tax.
There is no money coming from the Nevada Treasury. Therefore there is not “subsidy to run out.”
California is too expensive.
Georgia and Louisiana are too far from CA corporate headquarters.
Midwest is too unionized.
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