LeEco's electric car division secures $1.08 bn funding

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.

--IANS

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