Aston Martin and LeEco could expand their partnership

Aston Martin and LeEco could expand their partnership image

The ties between Aston Martin and the Chinese consumer electronics group LeEco could lead to more technology exchanges in the future, CEO of the British brand says.

The Chinese technology company LeEco and the British luxury sports car brand Aston Martin announced last month they signed a partnership to jointly develop Aston’s first electric car, a production version based on the RapidE concept that would come to market in 2018. The next stop of the development is to identify the proper solutions for battery systems and powertrain, they said. But the cooperation could go beyond building just one car, Automotive News reports. “In the future you could imagine ever-converging technologies between the two companies,” Aston Martin CEO Andy Palmer said last week at the Geneva auto show. The tie-up also creates an implied connection with the California-based electric maker Faraday, as the newly formed start-up company is backed up by LeEco. As part of the collaboration between the automaker and the Chinese electronics group, Aston will use future LeEco and Faraday EV technologies in its vehicles, though not exclusively in the RapidE since it would come to market before Faraday’s vehicle, Palmer said.

Faraday Future’s investment plans are daring and aimed at investing 1 billion dollars in a plant in US, Nevada, but the state is not quite convinced about the financial power of the recently established electric carmaker and is asking Faraday to put up as much as 75 million dollars as collateral. Speaking on the matter, Palmer stated he was not worried at all. “Welcome to China,” he said. “You can’t judge Chinese companies in the way you do a classical European or American company. Everything I’ve seen from them so far is genuine, the joint investments that we’ve made are on time.”

Via Automotive News

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