LeEco has planned an entry into the premium electric vehicle market and it’ll get into that industry with the help of $1.08 billion in funding. The Chinese company, which is involved in a number of industries, has raised money for its first electric vehicle from Legend Holdings Corp., Yingda Capital Management Co. and China Minsheng Trust.
With that funding, LeEco will certainly have an easier time moving forward with its EV ambitions. Its first planned vehicle is the LeSEE, a sedan that is supposed to be entirely autonomous.
None of the money will go into the partnership LeEco has with Faraday Future.
