Faraday Future will lend its Las Vegas electric car factory to Chinese carmaker LeEco.
China’s LeEco, which is closely tied to Faraday, said it will begin producing a version of its LeSEE electric car in several years, once Faraday completes its Las Vegas factory, according to Reuters. The LeSEE electric car was unveiled in Beijing last week and is strikingly similar to the car first electric car planned by Faraday Future.
Faraday is effectively a subsidiary of Beijing’s Leshi Internet Information & Technology Corp. Insiders told the Business Journal earlier this year that Leshi’s founder, Jia Yueting, is Faraday’s primary financial backer. LeEco, formally known as Leshi Super Electric Car Co., is headed by Ding Lei, who also heads Faraday.
Faraday is banking on ties to Leshi Internet’s smartphone and television manufacturing businesses. As part of a technology sharing agreement, Faraday will use Leshi’s electronics in its vehicles and Leshi’s automotive division will have access to Faraday’s self-driving electric car technology.