LeEco Electric Car

LeEco’s is pretty serious with its whole electric car story. In April, the Chinese electronics company LeEco, best known for its TVs and smartphone (once named LeTV) showed its interest for manufacturing self-driving car during a phone launch in Beijing.

The smart concept futuristic LeSEE (pronounced like “lessee”) features a foldaway steering wheel, exterior display on the front of the car and is capable of hitting top speeds of 130 MPH.

To realize their dreams, LeEco is putting $1.8 billion of its money announcing plans this week, as reported by Reuters.  They’re planning to set up an electric car factory that would be built in two phases in Deqing county near the eastern Chinese city of Hangzhou. It’ll be capable of producing 400,000 vehicles annually.

This plant will be part of LeEco’s larger be planned “Eco Experience Park,” a $3 billion project that sounds like a veritable Disneyland of electric auto production, featuring an entertainment park in addition to all of the boring offices and car manufacturing facilities.

LeEco also plans to produce cars at a plant being built near Las Vegas by U.S. strategic partner Faraday Future, in which LeEco founder Jia Yueting has invested.

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