LeEco’s electric car division secures $1.08 bn funding

Beijing, Sep 20 (IANS) Chinese internet and technology conglomerate LeEco on Tuesday announced that its electric car division SEE Plan (Super Electric Ecosystem Plan) has completed first round of funding worth $1.08 billion.

LeEco's LeSEE is touted as the world's first driverless concept supercar. The concept car encompasses a unique internet design with a large and flamboyant LED screen.

"The $1.08 billion funding amount has set a new benchmark for the global automobile industry. From this point on, LeSee will accelerate towards its goal of building a global electric transportation ecosystem powered by smart internet technology," said YT Jia, founder and CEO, LeEco, in a statement.

Earlier this year, LeEco's showcased LeSEE featuring fully autonomous capabilities, including machine learning of facial, emotion, system and path recognition.