LeEco, Aston Martin collaborate to create electric vehicles

Chinese internet conglomerate LeEco on Thursday said they are working to develop an electric concept vehicle of luxury sports car brand Aston Martin RapidE that incorporates the LeEco Internet of the Vehicle (IOV) system.

"LeEco is dedicated to build electric, smart, connected and socialised cars. We hope that, by strengthening collaborations with Aston Martin, our future models will provide premium qualities and delicate arts and crafts as good as those of Aston Martin," Ding Lei, co-founder and global vice chairman of SEE Plan, said in a statement.

Adding a range of next-generation connected electric vehicles on behalf of LeEco, Aston Martin and Faraday Future -- start-up electric car firm -- will be in the market by 2018, the company said.

"Aston Martin are dedicated to developing a range of low- and zero-emission cars. We have been encouraged by the project speed and technical depth shown by LeEco in the development of the RapidE concept towards full production. Bringing the RapidE to market by 2018 is an important milestone for both companies," said Andy Palmer, Aston Martin CEO.

Aston Martin and LeEco signed a memorandum of understanding (MoU) last month to confirm research projects that include the development of connected electric vehicles through to manufacturing consultation on future electric vehicles.