"I am deeply sorry and blame myself for the negative impact of LeEco's debt crisis."
LeSee EV is one of many projects his companies have pursued.
Founder has money troubles but a "dream to revolutionize the auto industry."
It may not pose a threat to Tesla anytime soon.
"Aston Martin now plans to proceed independently, funding further development of RapidE by ourselves."
This $260 million injection of cash couldn't come at a better time.
"It will be a long while before there is a production car. If CES goes badly, it's all over."
With the company's lofty goals, it was only a matter of time before money became an issue.
We expect many explosions.
Cryptic image portends future sedan.
LeSee is an electric vehicle from China meant to compete with the Tesla Model S. What we know about LeSee so far is that it’s from the Chinese electronics giant LeEco.
LeEco's EV factory near the Chinese city of Huzhou would pump out 400,000 EVs per year.
LeEco shows off the LeSee EV, with autonomous driving and self-parking capabilities.
Aston Martin now has a partnership with Chinese company LeEco to develop EV tech, and they hope to bring the RapidE electric sedan to production by 2018.