LeEco and Aston Martin sign MOU
LeEco and Aston Martin sign MOU

Following an announcement in January that Aston Martin would incorporate into its luxury four-door Rapide S sports car the “Internet of the Vehicle” (IOV) system from technology innovator LeEco, the two companies yesterday signed a memorandum of understanding to develop a production version of the Aston Martin RapidE electric vehicle concept. The partners acknowledge the potential to expand the scope of their relationship to include adding a range of next-generation connected electric vehicles on behalf of Aston Martin, LeEco and Faraday Future.

Aston Martin created the RapidE concept to explore how the company can take an existing production vehicle and create an all-electric sports sedan. Since the creation of this concept vehicle, Aston Martin and Letv report that they have been advancing the work on production feasibility, including the identification of technology solutions for battery systems and powertrain. Both companies are now focused on bringing the RapidE to market in 2018.

Commenting on the signing of the MOU, Mr. Ding Lei, co-founder and global vice chairman of SEE Plan, said, “Signing of this MOU ushers a new phase of the collaborations between Aston Martin and LeEco. LeEco’s SEE Plan is dedicated to build electric, smart, connected and socialized cars. We have been targeting the highest standard in the auto industry in terms of design, R&D and manufacturing of our electric 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.”

Aston Martin CEO, Dr. Andy Palmer, said, “Aston Martin [is] dedicated to developing a range of cars with low emission technologies.  We have been encouraged by the project speed and technical depth shown by Letv in the development of the RapidE concept towards full production. Bringing the RapidE to market by 2018 is an important milestone for both companies. ”

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Aston Martin and LeEco Partner to Co-Develop Electric Vehicle