Please Tell Us Your City

Knowing your city will help us provide relevant content to you.

Sorry! No matching results found. Try again.Error Identifying Your Location.

Log in to CarWale

Please enter your password
Forgot password?
Please enter your registered email

Sign up to CarWale

Please enter your name
+91
Please enter your mobile number
Please enter your password
Please enter your password
Ad

Tesla-rival LeEco hits troubled waters

June 30, 2017, 06:21 PM IST by Omkar Thakur
Tesla-rival LeEco hits troubled waters

Hong-Kong-based brand LeEco had wowed the world with its Tesla-rivalling premium electric car, the LeSee. It seems that the Chinese conglomerate grew too fast for its own sake and in spite of the latest billion dollar funding, it still faces a cash crunch.

LeEco’s founder and CEO, Jia Yueting, said that he expected the $2.2 billion investment from Chinese real-estate giant Sunaco would be help it weather the storm, but apparently, the revenue models haven’t lived up to their potential leaving the tech-giant in a fix.

This is also the reason why LeEco pulled out of the Aston Martin RapidE project to build an all-electric luxury GT. While the project hasn’t been scrapped completely, the earlier expectations of a series production has been turned into a rare limited-run electric grand tourer. 

LeEco’s automotive arm is said to be the primary source of the financial troubles and is still seeking to complete its round-A of funding so that it can begin production of the LeSee electric car. The financial troubles may delay the arrival of the Tesla rival, but we will certainly get a taste of its potential with the Aston Martin RapidE.

 
Tags:Electric cars,Tesla,LeEco,LeSEE
Show CommentsHide Comments
Ad
  • Upcoming Cars

Maruti Suzuki New ErtigaMaruti Suzuki New Ertiga

21 November 2018

7.80L - ₹ 12.40L
Mahindra Alturas G4Mahindra Alturas G4

24 November 2018

35L - ₹ 40L
Tata HarrierTata Harrier

January 2019

16L - ₹ 22L
Tata 45XTata 45X

March 2019

8L - ₹ 10L
Kia SPKia SP

July 2019

14L - ₹ 20L
All Upcoming Cars
Ask the experts1800 2090 230Mon-Fri (9 AM - 8 PM)
Sat (9 AM - 5:30 PM)
Sun (9 AM - 7 PM)
Toll free

Select your city to avail offers

Currently available only in