LeEco build a plant for the production of electric vehicles for $1.8 billion

LeEco build a plant for the production of electric vehicles for $1.8 billion

August 13, 2016 0 By autotimesnews

The Chinese company Le Holdings, better known as LeEco, plans to invest 12 billion yuan ($ 1.8 billion) in the construction of a plant for the production of electric vehicles in the eastern part of China. 

This facility is planned to produce about 400 thousand cars per year. The factory, which is located near the city of Hangzhou, will be built in two phases. Terms of realization of the project are not called.

It is known that the new plant will be part of an Eco Experience Park, where, in addition to the production lines, is an entertainment park, offices and facilities for electric vehicles, connected to the Internet. Investment in Eco Experience Park is estimated at 20 billion yuan ($ 3 billion).

Founded in 2004 LeEco (before January 2016 called LeTV) engaged in the production and distribution of video content, the development of mobile applications, cloud and mobile services, and also produces smartphones, TVs and other electronics. In addition, LeEco pays much attention to the automotive industry, working in particular with Faraday Future and Aston Martin.

In April 2016 LeEco presented its first electric concept car. Four-door sedan called LeSEE has a futuristic design, the system of autonomous driving and control via smartphone.