LeEco Plans EV Plant in China

Chinese consumer electronics giant LeEco plans to build a plant in Hangzhou, China, to make a production version of the LeSee electric car concept it introduced at the Beijing auto show in April.

The company says it will invest 12 billion yuan ($1.8 billion) in the facility, which will have an estimated annual capacity of 400,000 units. The plant will be part of a $3 billion complex that includes a network of connected, self-driving vehicles and unspecified auto-themed entertainment areas. No timeline was given for the project.

LeEco (formerly LeTV) aims to integrate its smartphone and streaming services into next-generation vehicles. In addition to an electric drivetrain, the sleek LeSee concept sedan includes a host of connectivity and driver-assist features.

Earlier this year LeEco signed a memorandum of understanding with Aston Martin Lagonda Ltd. to launch a production version of the British carmaker’s RapidE concept electric vehicle by 2018. LeEco’s founder, billionaire Jia Yueting, also is one of the primary investors in California-based Faraday Future Inc., which is developing its own EVs.