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LeEco and Aston Martin teaming up on electric car venture

Chinese tech giant LeEco has signed an agreement with British luxury car maker Aston Martin to create an electric car venture, Beijing Business Today reported on Thursday.

Under the agreement, LeEco will provide the drive system and battery pack for electric cars, and help promote Aston Martin cars in China. Aston Martin will offer automotive technology. The two sides will each own 50% of the shares in the venture. The venture will focus on R&D, manufacturing and sales of electric cars.

From LeEco official website.

“LeEco cooperates with Aston Martin because we aim to reach the highest standard in the auto industry in terms of design, R&D and manufacturing of electric cars. We will produce models as good as the luxury sports cars of Aston Martin,” said Ding Lei, co-founder and global vice chairman of LeEco’s auto division.

Aston Martin CEO Andy Palmer said the internet technology of LeEco will help improve Aston Martin’s electric cars, which are important products for the company in the future.

The first model for the two partners will be RapidE, which is an electric prototype version of Aston Martin’s Rapide S car. The venture plans to bring the RapidE to market by 2018, and build the product at Aston Martin’s factory in Gaydon, England.

LeEco first partnered with Aston Martin last April, and expanded cooperation to areas including the development and production of electric cars last December. The first result of their partnership was the Aston Martin Rapide S incorporating the latest in-car entertainment systems of LeEco.

LeEco announced a partnership with an American electric car startup Faraday Future in January. LeEco’s founder Jia Yueting was an early backer of Faraday Future.

(Top photo from Baidu Images.)

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