LeEco turns on the heat with it’s $1 billion Fund for the electric car project

The future is not yet here but it is getting interesting as Chinese company LeEco is making serious moves to compete with Tesla. LeEco just raised $1.08 billion to develop its electric car, Bloomberg reported.

The news comes about a month after LeEco invested $1.8 billion to build an electric-car plant in eastern China with eventual annual production capacity of 400,000 cars.

The company originally revealed its electric concept car, called the LeSee, in April.

While the production version will likely stray somewhat from the concept vehicle, it’s worth taking a closer look at the LeSee to get an idea of what we can expect.

The LeSEE is an electric car with a top speed of 130 mph.

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The car also has an autonomous mode, so the steering wheel can fold back into the dashboard.

The LeSEE is meant to be a fleet vehicle, so you can summon it with a smartphone and it will come pick you up or tell you if it’s unavailable.

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And the seats will self-adjust when the car arrives.

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From the video we can see that the LeSEE has a touch-screen infotainment module.

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And it comes with some nice navigation capabilities.

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The backseat passengers can also enjoy their own TV monitors.

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There’s still no word yet on when the car will enter production.

LeEco is also a strategic partner of electric car start-up Faraday Future. The LeSEE differs fairly drastically from the concept car that Faraday Future showed off in January, Faraday Future’s first cars should go into production by 2020.

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(Business Insider)

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