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(Reuters) — The founder of debt-laden tech conglomerate LeEco has defied orders from Chinese regulators to return to the country before end-2017, saying he needed to stay in the United States as a fundraising for his electric car startup was making progress. The Beijing branch of the China Securities Regulatory Commission (CSRC) issued a notice […]
The Chinese tech giant LeEco might have once been dubbed the “Netflix of China,” but that lofty acclaim has made its fall from grace all the more brutal. Now, the company’s founder, Jia Yueting, has been ordered to return to China by the country’s Securities Regulatory Commission by the end of the month in order […]
Troubled would-be Chinese tech empire LeEco is looking to launch another product, but it needs you to crowdfund it first. A Kickstarter for their electric powered standup scooter will go live on August 28th, if you’re willing to take the risk. The foldable, lean-to-steer “Scooterboard,” as it’s known, will have a maximum speed of 15 […]
REUTERS/Jason Lee Unpaid loan payments prompted a Chinese court to freeze $ 182 million in assets tied to LeEco chairman Jia Yueting. The Shanghai High People’s Court took the action last week, clamping down on the assets linked to a loan for the LeEco phone company, Le Mobile, The New York Times reported on Tuesday. The […]
Aston Martin was forced to scale back production plans for its first electric model after cash-strapped investment partner LeEco pulled out of the project, Chief Executive Andy Palmer told Reuters on Monday. The result, though, may be an even more exclusive car, aimed at customers who consider Tesla’s top of the range $ 130,000 Model […]
Enlarge LeEco, often called the “Netflix of China,” is in the news again, and again it’s because another disaster has befallen the company. After announcing a $ 2 billion merger with TV maker Vizio and then cancelling it, as well as purchasing a Silicon Valley property from Yahoo and then selling it, LeEco’s rapid expansion to the […]
To put it mildly, LeEco has had its fair share of trouble lately. It ran low on cash due to aggressive growth, backed out of its Vizio takeover and threw its weight behind Faraday Future’s electric cars despite some overly ambitious plans. Clearly, the company is stretching itself too thin — and CEO Jia Yueting […]
Illustration: Angelica Alzona In 2016, rising Chinese tech star LeEco made an aggressive move to conquer the unfamiliar US market with cheap gadgets. But just months after a blingy launch event in October, the company’s American operation is in shambles. From missed payrolls to disappearing employees, former employees of the once-hyped startup tell us how […]
Chinese tech giant LeEco might not get the chance to build the massive Silicon Valley HQ it wanted. According to Reuters, it’s selling the 49-acre property a year after it bought the site from Yahoo and in the midst of serious financial issues. LeEco had big plans to conquer the US market, including the development […]
LeEco, the Chinese technology firm behind startup electric car company Faraday Future, has reportedly agreed to sell off 49 acres of land in Silicon Valley less than one year after purchasing it. Back in June of 2016, LeEco founder and CEO Jia Yueting said the property, which was purchased from Yahoo, would be used to […]
