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 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