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Faraday Future, the electric car startup moving to North Las Vegas, has agreed to acquire a $75 million bond and to fund a $13 million escrow account to guarantee the infrastructure needed for Apex to be a viable site for its billion-dollar facility, thus reducing the state's overall liability for the project.
In a letter to the state dated Wednesday that I have obtained, Faraday agrees to post the bond to ensure that "water, wastewater and rail infrastructure" costs are covered, a security ...
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