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Faraday Future’s Chinese backer LeEco will build a ~$2 billion factory to produce 400,000 EVs per year

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Chinese billionaire Jia Yueting is better known in the US for financing Faraday Future, a California-based electric vehicle startup, but in China, Jia is known as the founder and CEO of LeEco, an important media and technology company. While LeEco and Faraday Future have a partnership, LeEco is developing its own electric vehicle, LeSee, for the Chinese market.

We were at the unveiling of the LeSee earlier this year, you can read our full report: LeEco shows off its ‘LeSEE’ all-electric car concept [Gallery]

Now we learn that the company is going ahead with an important factory to manufacturing the vehicle in volumes.

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