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LeEco raises $1 billion to bring its electric and autonomous car, the LeSee, to market

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Having invested in both Faraday Future and Atieva, Chinese billionaire Jia Yueting is becoming an important player in the electric vehicle field. But his latest project directly under his main company, LeEco, could actually end up having the biggest impact in the short-term thanks to a recent investment.

The company disclosed today having raised $1.08 billion USD to finance the effort to bring the LeSee, the tech company’s all-electric and autonomous sedan, to market.

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Watch LeEco’s LeSEE all-electric concept car announcement in less than 5 minutes [Video]

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I was in China this week to witness the unveiling of many new products from a huge Chinese conglomerate you may or may not have ever heard of — LeEco. The company, which recently changed its name from LeTV, took to its own LeSports stadium in Beijing to announce not only several new phones, but a VR headset, some new TV sets, and to top it all off, a concept car.

Follow after the break for a full look at the announcement in less than 5 minutes…



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