LeEco , the Chinese automotive giant , has started building its $ 3bn electric car manufacturing facility in 2017 . After a leaked internal letter from founder Jia Yueting detailing the company 's precarious financial situation , it secured $ 1.44bn and $ 600 million investments from two unnamed sources . Upon completion , the facility will have the capacity to manufacture 400,000 cars by 2018 . However , manufacturing licences to produce LeSee cars have not yet been granted by the Chinese government , which allegedly has issues with the company 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.