Faraday Future picks Nevada for $1B electric vehicle plant

California-based automaker Faraday Future’s choice of Nevada over three other states is contingent on state lawmakers’ approval of tax incentives that haven’t been publicly described. “We plan to revolutionize the automobile industry by creating an integrated, intelligent mobility system that protects the earth and improves the living environment of mankind,” wrote Jia Yueting, who’s the founder and CEO of the holding company LeTV. The Faraday Future news came a day after another Southern California company working on a futuristic transportation project, Hyperloop Technologies, announced plans to expand to the same industrial park. The firm, which is trying to develop a system that would propel passengers and cargo through nearly airless tubes at the speed of sound, said it will build a test track and conduct early-phase testing at the park.