A $5 billion electric vehicle company backed by Amazon and Ford is weighing a North Texas site that would roughly match the scope of Tesla’s heavily hyped gigafactory under construction outside of Austin.

The site being considered in the Walsh development 12 miles southwest of downtown Fort Worth was one of the top locations pitched by North Texas leaders when Amazon was searching for a place to build its massive HQ2 project.

Irvine, Calif.-based Rivian Automotive Inc., the electric-vehicle startup backed by Ford and Amazon, is in negotiations to invest at least $5 billion to builda factory with the capacity to produce 200,000 vehicles a year, according to a presentation Tuesday night by the city of Fort Worth’s Economic Development Department to the City Council.

The scale of Rivian’s proposed Fort Worth spread would be similar in many ways to Palo Alto, Calif.-based Tesla’s manufacturing plant being built just outside of Austin, although comparisons are difficult because final elements of both projects are in flux or haven’t been released by the respective companies.

Fort Worth city officials have approved a $440 million package of tax incentives for electric vehicle manufacturer Rivian Automotive, saying the company’s proposal to build a $5 billion factory in the Walsh development would forever change the landscape of the once-rural western side of the city.

In return, Rivian would create 7,500 jobs by 2027, which would make it one of the largest employers in the Dallas-Fort Worth region. The California company is looking at several cities for its proposed manufacturing plant, although Fort Worth is considered a front-runner.

The Walsh development straddles the Tarrant-Parker county line.

The project also will be submitted as a potential Texas Enterprise Zone project, making it available for further state funding.

The Fort Worth factory would be capable of producing 200,000 vehicles per year, city records show. Workers at the factory would be paid minimum average annual salaries of $56,000.