The smart car development unit of China-based electronics and online media group LeEco has raised $50m from diversified conglomerate Macrolink, China Money Network reported on Tuesday.
LeEco revealed plans for an all-electric smart car called LeSee in April this year, and has since announced it intends to additionally form an electric vehicle sharing platform and an automotive e-commerce arm.
The firm also signed development agreements with luxury car manufacturer Aston Martin and electric vehicle (EV) developer Faraday Future in April, two months after the three signed a memorandum of understanding to develop a production version of Aston Martin’s RapidE EV concept car.
Aston Martin and LeEco have already collaborated on a prototope of the Aston Martin Rapide S concept car that included LeEco subsidiary LeTV’s Internet of the Vehicle onboard control system.
LeEco plans to manufacture the LeSees at a production facility in the Chinese province of Zhejiang, where it is intended to form part of an eco-conscious town where tourists will be able to experience a smart mobility system first hand. The company aims to release its first car in late 2017.
Founded in China in 1990, Macrolink oversees a diverse range of business including various industrial manufacturing units as well as financial services, real estate, petroleum, mining and chemicals divisions and some producing foodstuffs, textiles or pharmaceuticals.