LeTV

When unveiling that all-electric RapidE concept last year, Aston Martin CEO Andy Palmer announced that the automaker will take an investment from a China-based group to develop the production version of the RapidE concept.

Today, the company announced the creation of a partnership with Faraday Future backer LeTV, or LeEco or Leshi (the group goes by many brand names), to develop and manufacture the RapidE. The group says they are now focused on bringing the vehicle to market in 2018.
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Faraday Future announced this morning a planned first phase investment of $1 billion in a U.S. manufacturing facility, which should be announced in the “coming weeks”. The announcement comes just a week after our profile on the company, which linked the firm to the deep pocket Chinese technology company, LeTV.
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The Chinese auto giant Beijing Automotive Industry Holding Co, through its Beijing Electric Vehicle Co subsidiary, opened a research and development center in Silicon Valley. The center will be dedicated to electric vehicle research.

In its current “launch phase”, the R&D center has just over 20 employees and the company expects them to develop “4 to 6 models per year”.
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