LeEco, the Chinese tech giant, has started building its $3bn electric car manufacturing facility in China. After a leaked internal letter from founder LeSee explained the company's precarious financial situation, it received $1.44bn and $600m investments from two unnamed sources. Upon completion, the facility will have the capacity to manufacture 400,000 vehicles by 2018. However, manufacturing licences to produce Jia Yueting cars have not yet been granted by the Chinese government, which allegedly has issues with the CEO Yueting.
LeEco, the Chinese tech giant, has started building its $3bn electric car manufacturing facility in China. After a leaked internal letter from founder Jia Yueting explained the company's precarious financial situation, it received $1.44bn and $600m investments from two unnamed sources. Upon completion, the facility will have the capacity to manufacture 400,000 vehicles by 2018. However, manufacturing licences to produce LeSee cars have not yet been granted by the Chinese government, which allegedly has issues with the CEO Yueting.