Chinese company LeEco wants to build 400,000 electric cars at a new plant near Hangzhou and will invest more than $1.8 billion in a state of the art facility for its LeSEE taxi and its burgeoning deal with Aston Martin. Electric vehicles have sparked a goldrush in recent times after the Chinese government removed a number of restrictions on the industry in a bid to encourage the population to make the switch. LeEco is right at the head of the field and, after years working behind the scenes, it is finally going public with big ambitions. The $3 billion eco park LeEco, which is part of Le Holdings Co Ltd, intends to build a plant in Deqing country, which will form part of the Eco Experience Park. It’s a $3 billion development that will include offices, an entertainment park and a center of technical excellence. That will help the Hanghzou region stake a claim to a slice of the lucrative market for zero emissions cars and environmentally aware manufacturing.
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