ZURICH (Reuters) - Siemens is spending $60 million on a new U.S. factory to build high speed trains to whisk passengers between Los Angeles and Las Vegas, the German engineering company said on Monday.

Around 300 jobs will be created at the 300,000 sq ft facility in Horseheads, upstate New York, which Siemens said was the first high speed rail production site in the United States.

The site, which is due to enter production in 2026, will build American Pioneer 220 trains, which will operate on the Las Vegas to Southern California line operated by Brightline West.

The 218-mile (350km) project is expected to have speeds of at least 186 miles per hour, resulting in a proposed trip time of 2 hours and 10 minutes.

The Las Vegas to Los Angeles line aims to be completed before the 2028 Los Angeles Olympics.

"This new facility in Horseheads, New York, marks the beginning of a brand-new industry in the USA - bringing both high-speed rail production and some of the world's most modern trains to the continent for the first time," said Michael Peters, CEO of Siemens Mobility.