China’s Le Holdings Co Ltd, also known as LeEco, will be investing 12 billion yuan (RM7.2 billion) into building an electric car plant in eastern China.
According to Reuters, the company’s first China factory which would be capable of producing 400,000 cars annually, will be built in two phases in Deqing county near the eastern Chinese city of Hangzhou.
The facility will also be part of a 20 billion yuan (RM12 billion) “Eco Experience Park” which will include an entertainment park, facilities for Internet-connected electric cars and offices.
This comes in addition to an announced partnership with Faraday Future that will produce some of the EVs in the US-based company’s Las Vegas production facility, part of an on-going partnership between the two companies.
Non-automakers and start-ups have rushed to begin making electric vehicles and hybrid vehicles as China’s central government liberalizes the industry to promote a switch to electricity as an ultimate replacement for petrol to fuel cars.
In April, LeEco had unveiled its concept car – the LeSee – which is meant to be marketed as a futuristic, autonomous taxi which could be hailed or given instructions to via a smartphone using voice recognition.
The concept is in the form of a sleek sedan and features an electric powertrain, autonomous capability and a host of connectivity features, and a top speed of 209km/h.
There is also an isolated area for each passenger for added privacy, and a steering wheel that folds down when in autonomous mode.
Check out its announcement at the Beijing Auto Show earlier this year.