China’s LeEco to Invest $1.8 Billion to Build Electric Car Plant

China’s LeEco to Invest $1.8 Billion to Build Electric Car Plant

Chinese technology and entertainment company LeEco plans to build a 12 billion yuan ($1.8 billion) factory in China to produce smart, internet-connected electric cars. The plant, which will be based near the picturesque Mogan Mountain in the eastern Zhejiang province, will have a production capacity of 400,000 battery-powered vehicles a year, the company said on Wednesday. The facility will be …