LeEco is a Beijing-based web video company that has expanded into televisions and transportation. It is pursuing electric vehicle development and unveiled the LeSEE, a concept sedan intended to be completely autonomous. LeEco has a partnership with U.S.-based Faraday Future around its EV plans. The company raised $1.08 billion to fund its first car, with funding coming from Legend Holdings Corp., Yingda Capital Management Co., and China Minsheng Trust. The raise is intended to accelerate its EV plans and to position LeEco as a competitor to Tesla. Chinese government support for EVs and plug-in hybrids is contributing to investor interest in domestic EV development.

Total raised

$1.1B

Funding rounds

1

Latest round

Equity

Latest activity

Sep 2016