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December 29, 2016

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LeEco electric car plant

CHINA’S cash-starved video streaming and TV maker LeEco yesterday broke ground on a plant in east China to produce its LeSEE electric car. The factory, located in Moganshan in Zhejiang Province, is part of a 20 billion yuan (US$2.9 billion), 133-hectare development, called the Eco Experience Park. The company plans to invest 11 billion yuan in the first phase of the project. The car plant will reach its full production capacity of 400,000 vehicles a year upon completion of the second phase of the entire project, the company said, without giving a schedule but saying mass production will begin in 2018.



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