Published on February 21st, 2016 | by Subhash Nair0
Aston Martin Signs MOU with LeEco to Build Electric Vehicles
Leading global technology company LeEco and luxury sports car brand Aston Martin today signed a Memorandum of Understanding (MOU) towards the creation of a partnership that will develop a production version of the Aston Martin RapidE electric vehicle concept.
It is anticipated that the partnership will see the two companies working together in developing and manufacturing RapidE, with potential for adding a range of next-generation connected electric vehicles on behalf of Aston Martin, LeEco and Faraday Future.
This new signing extends the existing collaboration between the two companies. In January 2016, LeEco and Aston Martin revealed the first results of their partnership – an Aston Martin Rapide S incorporating the latest Letv Internet of the Vehicle (IOV) system.
The second area of the partnership – the development of low-emission vehicle technologies – has been accelerated as they have developed their respective plans for launching a range of new electric vehicles during the second half of the decade. The first model developed by this partnership will be the Aston Martin RapidE.
The Aston Martin RapidE concept was created 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 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 utilising the best technologies from the companies’ portfolios.