EVI relocated to Stockton from Mexico, calling the market for fuel-efficient cars much better in California.

An electric car company is setting up shop in Stockton and is planning on building cars there, potentially providing a huge boost and much-needed jobs to the local economy.

Governor Arnold Schwarzenegger was on hand at the new world headquarters of Electric Vehicles International on Wednesday, calling the new green industry facility part of California's "new economic foundation."

"EVI could have relocated anywhere in the world but they chose to come here to California because we have created the right environment for clean-tech and green-tech companies," Schwarzenegger said.

Thousands of electric cars and trucks will be manufactured in the Stockton, bringing in 150 jobs at first and as many as 450 later. The news is welcome for a city that has an approximate unemployment rate near 15 percent.

EVI relocated to Stockton from Mexico, calling the market for fuel-efficient cars much better in California.

Company officials say there are still dozens of jobs available at the plant. The location and contact information for EVI's headquarters is available on the company's website.