LeEco’s Tesla Killer LeSEE Electric Car gets $1 Billion Funding in China

At the April launch event of Le 2 and Le Max 2 smartphones, LeEco for the first time showcased the all electric autonomous car LeSEE. Starting as on-demand video streaming platform, LeEco later ventured into manufacturing consumer electronics like Smart TVs and Smartphones. It also launched the Le SuperBike powered by Android. The LeSEE will be competing with Tesla which already sells high-end electric cars.

The LeSEE is still in the concept stage and is expected to be on available for public within the next three years. Last month, the company also announced to invest 12 billion Yuan in the electric car manufacturing plant in China which will initially have a capacity of producing 4,00,000 cars per year. This new plant is said to start its operations from 2018. Now, LeEco has raised $1.08 billion in funding for the electric car segment which might be the largest ever funding in the automobile industry.

Tomorrow, the company will be launching new smartphone in China. Though there are rumors suggesting LeEco to launch world’s first smartphone with 8GB of RAM, we dont think this to be true. The Le Pro 3 will be available in two variants with 4GB and 6GB of RAM, same as Le Max 2. Under the hood, the device will be powered by Snapdragon 821 processor which is an upgraded version of Snapdragon 820. The Asus Zenfone 3 Deluxe is the first ever smartphone to launch with Snapdragon 821 SoC.

Xiaomi Mi 5S which will be unveiled on September 27th will also be powered by Snapdragon 821 SoC. While the Snapdragon 820 chipset is clocked at 2.2GHz, this new upgraded processor comes with clock speed of 2.4GHz. Stay tuned on Phone Radar for more updates!