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Tesla rival LeEco building $1.8 billion EV factory in China
China's EV industry hasn't produced many vehicles yet, but thanks to strong government incentives, it's on an explosive growth curve. One of the main players is electronics giant LeEco, which backs EV builder Faraday Future and recently showed off its own electric car, the LeSee. It unveiled plans for a $1.8 billion EV factory near the Chinese city of Huzhou that will pump out 400,000 EVs per year. The new plant "will be open to all LeEco's strategic partners including Faraday Future," says CEO Jia Yueting.
