China’s Le Holdings Co Ltd, also known as LeEco, said on Wednesday it would invest 12 billion yuan ($1.8 billion) to build an electric car plant in eastern China with eventual annual production capacity of 400,000 cars. The company said in a statement its first China factory would be built in two phases in Deqing county near the eastern Chinese city of Hangzhou. Non-automakers and start-ups have rushed to begin making electric vehicles and hybrid…
China’s LeEco to invest $1.8 billion in electric car factory
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