LeEco’ the electric car division, SEE Plan (Super Electric Ecosystem Plan) has completed its first round of funding of US$1.08 billion.
Commenting on this, YT Jia, founder and CEO of LeEco said, “The US$ 1.08 funding amount has set a new benchmark for the global automobile industry. This is a milestone for us. The participation of major institutions is a testament of their appreciation of the ecosystem business model and global strategy of LeEco. From this point on, LeSee will accelerate towards its goal of building a global electric transportation ecosystem powered by smart internet technology”.
Investors include Chinese state-own finance institutions as well as conglomerates in the private sector. Leading investors are as followed:
- Yingda Capital Management Co. Ltd., co-owned by the State Grid Corporation of China, China Communication Construction Ltd., and China Aerospace Science & Industry Corp.
- Shenzhen Capital Group Co. Ltd., the investment arm of the government of Shenzhen City, one of the major commerce and technology hub of China.
- Legend Holdings, a leading Chinese technology investment companies that also controls global technology giant Lenovo Group.
- China Minsheng Trust, the fourth largest trust company in China in terms of capital size (as of April 2016)
- Macrolink Group, an industry and finance conglomerate
- Hongzhao Fund, a leading Chinese investment company.
Earlier this year, LeEco’s had showcased its EV concept, LeSEE, featuring groundbreaking, fully autonomous capabilities, including machine learning of facial, emotion, system, and path recognition.
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