LeEco To Build $2 Billion Dollar Factory In China, Output Of 400,000 Units Annually

AUG 23 2016 BY ERIC LOVEDAY 8

LeEco LeSEE

LeEco LeSEE

LeEco LeSEE

LeEco LeSEE

Chinese technology corporation LeEco (sister company to Faraday Future) has announced that it will invest 12 billion yuan – approximately $2 billion USD, into an electric car factory in China.

Once complete (by 2018), the factory will be capable of churning out 400,000 vehicles per year – namely the LeSee autonomous EV (watch that car’s debut at Auto China 2016 here).

As South China Morning Post reports:

“The factory will manufacture LeEco’s autonomous electric vehicle, the LeSee, which was first unveiled in April. The concept car can achieve a top speed of 209km/h and comes with autonomous driving.”

LeEco LeSEE makes its debut at 2016 Auto China

LeEco LeSEE makes its debut at 2016 Auto China

LeEco chief executive, Jia Yueting, commented:

“With the development of the internet and technology, the traditional car industry which has been around for over a century is now at a turning point. We hope that our strategic cooperation will be a model for the next era of joint ventures for internet ecosystem businesses and governments.”

Of particular interest is that LeEco is a financial backer of Faraday Future. Faraday aims to construct an electric car factory in Nevada, but this LeEco factory in China could provide Faraday with a second production site at some point in the future.

Source: South China Morning Post

Categories: Faraday Future

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8 Comments on "LeEco To Build $2 Billion Dollar Factory In China, Output Of 400,000 Units Annually"

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They are just now announcing a plan to build an auto assembly plant, and they claim they’ll be making 400k units a year by 2018, which is only two years from now?

Yeah, good luck with that, guys. It takes two years just to build and fine-tune an auto assembly plant.

And altho I know things are cheaper in China, I question that only $2 billion is sufficient for a factory capable of cranking out 400k cars per year.

If I had a dollar for every prediction that was late (or never happened), I’d have enough money to open my own factory. And it would open in 2015.

Agree, Sounds like a lot of nonsense. It is not good for the industry if people go around and live of vaporware and press announcements. Customers might think there is something flawed with EVs

Oh gosh, aren’t we tired of these guys already? No product to show for, but they are building a $2B factory.

What’s with the “landscape model” back seats?

It’s a combination seat and rice growing terrace?

Looks like they allready developed autonomous driving. They just need the factory to produce the autonomous car.
I wonder if their autonomous driving works only in computer simulations or it does on real roads too?