Despite its promise to build a $2 billion factory in China capable of outputting 400,000 units annually, LeEco has yet to receive regulatory approval to build a single car in China.
This news comes to us via Forbes. The news site decided to look into LeEco and, as is often the case with Chinese automakers, there's lot of promises, but little to back up those claims.
"LeEco does not have the required license of the Chinese government to manufacture electric cars. A spokesperson for LeEco told Chinese media that the company has applied for a license, that the approval is “pending,” and that the current lack of a license is “not a big problem.”
"In China companies need official permission for everything, ranging from investments to takeovers to new factories. The decision and approval processes can take very long and usually involves the central government, various agencies, and local governments."
This makes it seem as though LeEco is nowhere close to produces an actual workable car then, as it still needs the license to make the car and a permit to begin building a factory.
"LeEco seems to be operating on the limit at the moment; the announcement of the factory apparently came as a complete surprise for the authorities, and the high officials in the capital hate surprises. Still, with all the capital and goodwill invested there isn’t really a way back; LeEco will likely get its license eventually, but it sure didn’t make things easier."
So, eventually a car will be made with the LeEco badge, but don't expect it anytime soon.