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Geely Auto vice president denies taking over LeEco Deqing vehicle base

Aurora From Gasgoo| April 11 , 2018

Geely Auto land buying, Faraday Future capital raising, LeSEE PRO concept vehicle

Shanghai (Gasgoo)- Geely Auto has no intention to take over LeEco's electric vehicle base in Deqing County near the eastern Chinese city of Hangzhou, Yang Xueliang, the vice president of Geely Auto revealed to local media.

There were reports saying that the EV startup Faraday Future (FF) may have obtained a big investment from the Chinese property conglomerate Evergrande Group to promote its vehicle delivery. As to the way to deal with LeEco's EV base located in Mogan Mountain Hi-tech Industry Development Zone in Deqiang County, Zhejiang Province, some staff working there revealed two approaches, one is to put it aside temporarily until Jia Yueting's (founder of LeEco) return and the other is to be taken over by FAW Group or Geely Auto.

Apart from the response from Geely Auto, Shao Yixuan, the brand public relation director of FAW Car sales company's marketing department, showed that she and the staff at her level have not received relevant information about this matter.

The LeSEE production base in Deqing County started construction on December 28, 2016. Involving a total investment of RMB 20 billion, the base is expected to achieve a production capacity of 400 thousand vehicles per year. In October, 2016, LeEco officially launched its LeSEE vehicle brand and unveiled the LeSEE PRO concept vehicle. However, since LeEco has been tied to a series of capital crises, the LeSEE program in Deqing County was once shelved. According to local media, the program still exists now. Although the money for land buying at an earlier stage had been paid, the program has not taken any further step.  

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