LeEco’s electric car division LeSEE has raised over $1 billion (Rs 7,239 crore) in funding from Yingda Capital Management, Shenzhen Capital Group, Legend Holdings, China Minsheng Trust, Macrolink Group and Hongzhao Fund, reports Mint. It will use the funds for building a ‘global electric transportation ecosystem.’ According to this Guardian report, LeSEE has 600 employees. LeEco first introduced its electric car called the Autonomous Electric SuperCar before the Beijing auto show in April this year. According to a report from last month, LeEco plans to build a factory with an output of 400,000 cars starting next year by pumping in about $2 billion for this venture. The factory would be a part of its 20 billion yuan ‘Eco Experience Park Project’ where users can check out LeEco vehicles, content offerings and music streaming. Note that LeEco’s founder Jia Yueting has also founded and funded Faraday Future, an American electric vehicle startup. LeEco also has connections to Atieva, an autonomous electric car startup from the US. In February this year, LeEco signed an MOU with Aston Martin to develop and produce Aston Martin RapidE, an electric vehicle concept. Self driving taxis on the road in Singapore: Last month, self-driving taxis operated by nuTonomy started picking up passengers in Singapore. NuTonomy is an autonomous vehicle software startup which currently has only 6 cars on the street, with plans to double the number by the end of the year. As of now, the self-driving taxis only run in a 6.5 sqkm business and…
