LeEco Breaks Ground On $3 Billion Factory In China
We have seen many reports that Faraday Future (of whom recently debuted its 378 mile supercar in Las Vegas) may be in trouble. Production is currently halted on its Las Vegas factory, reportedly due to the fact that the company is behind on bills. This hasn’t stopped Faraday’s parent company, LeEco, from breaking ground on its own $3 billion car factory in China.
The China-specific factory is ear-marked to produce the LeEco LeSEE. The 4,300 acre site slated to house a three-fold production facility, is currently under excavation.
The plan is for a car factory, a battery factory, and an electric-motor factory, working in tandem to produce 200,ooo cars a year initially. When it’s all done and functioning at full force, it is supposed to be able to produce 400,000 cars a year.
Cars News China is skeptical as to whether or not this can happen. The publication has observed the excavation, but aside from that, not much. The report said:
“There doesn’t seem to be any coordination, or any trucks to haul the earth away. And anyone can rent these things for some 1200 yuan (less than $200) a day.”
Also mentioned was that CEO Jia Yueting is not a popular person in Beijing right now. Added to this, missed the groundbreaking ceremony and no one is sure where was he was at the time (outside of mahbe Las Vegas we suppose). He was around when announcements about the upcoming factory were revealed to the public. Jia is known for loving such ceremonies, revels in fame, and jumps at an opportunity to take the stage (though he could be embarrassed about his last stage appearance for LeEco), so his absence was apparently noteworthy to Chinese media.
Let’s not forget to mention the fact that a report revealed that LeEco has yet to get a government license to actually produce vehicles. Being that it is illegal to move forward without a license, LeEco should be going through the process to acquire one as soon as possible. It is strange for automakers to break ground and publicize plans without taking care of the license process first. Maybe Jia was busy taking care of the paperwork instead of attending the groundbreaking?