LeEco to construct $1.8bn China electric car plant

WCN Editorial Team 12 Aug 2016 ASIA BUILDINGS

Chinese technology firm LeEco is set to invest RMB12bn ($1.8bn) to build an electric car plant in the eastern Zhejiang province of China.

The plant, to be located near the Mogan Mountain in eastern Zhejiang, will have an annual production capacity of 400,000 battery-powered vehicles.

The project will be carried out in two phases and will be part of a planned $3bn theme park, which will comprise auto-related elements.

The company did not disclose details about when construction would commence on the plant or park.

LeEco also plans to produce cars at a factory being built by US strategic partner Faraday Future in Las Vegas.

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