Chinese-backed electric carmaker picks Nevada for $1B plant

(AP) — A Chinese-backed electric car company with visions of revolutionizing transportation — but no product to show yet — announced plans Wednesday to build a $1 billion plant near Las Vegas, marking the second time in just over a year that Nevada has landed a coveted project from the budding industry.

The company's announcement, in a letter to Nevada legislators that was obtained by The Associated Press, also came with the revelation that it's backed by a Chinese billionaire investor who styles himself after Apple's late Steve Jobs.

Republican Gov. Brian Sandoval and his top economic development officer are scheduled to attend a news conference in Las Vegas on Thursday that's expected to include a formal announcement of a tentative agreement to bring the plant to North Las Vegas.

Tax breaks to seal the deal would need authorization from Nevada lawmakers, who approved a $1.3 billion incentive package in a special session last year to secure electric carmaker Tesla Motors' massive battery factory outside of Reno.

A proposed high-speed train from Southern California to Las Vegas and an electric bus company are other examples, as a massive country that has grown at breakneck speed begins to export its expertise in moving people around.