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Earlier this year, China’s Le Holdings Co Ltd, also known as LeEco, made quite some noise in the car industry by unveiled an all-electric battery concept car whose production version the company hopes will compete head-on with Tesla Motors.

Well, it seems like they are trying to keep their promise of competing with Tesla by announcing the first stage of the Eco Experience Park which is an $1.8 billion car factory which is expected to produce 400,000 vehicles annually. The Eco Experience Park’s total cost is a whopping $3 billion which will be located in Hangzhou, China. However, nothing has been said about the completion date. The project will include offices that will even make the Googlers jealous with an entertainment park and facilities for internet-connected electric cars.

Partnership with the company who has produced a ridiculous 1000 horsepower electric car, Faraday Future. Some of the electric vehicles will be produced in FF’s US-based factory as part of the ongoing partnership.

LeEco also seems to be much appreciated by the public since it will bring competition to Tesla and offer more choice to customers at lower prices. This company may, therefore, be used a catalyst to encourage people in buying an all-electric car.

So what do you guys think about LeEco and its plans? Let us know in the comment section down below and follow us on social media.

Via: | TechCrunch |

Source: | LeEco |

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Bhavish Doobaree

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