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The
company said in a statement its first China factory would be
built in two phases in Deqing county near the eastern Chinese
city of Hangzhou.
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.
LeEco's production facility will be part of a larger project to
build an "Eco Experience Park" that will cost 20 billion yuan in
total that will also include an entertainment park, facilities
for internet-connected electric cars and offices, the statement
said.
The company did not say when it planned to complete the factory.
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.
($1 = 6.6355 Chinese yuan)
(Reporting by Jake Spring and Norihiko Shirouzu; Editing by
Jacqueline Wong)
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