What's the news?
Aston Martin has signed a Memorandum of Understanding (MOU) with global technology firm LeEco to build an all-electric Rapide by 2018.
The two companies will work together under the MOU to develop the Aston Martin RapidE electric vehicle concept, with further potential for adding a range of next-gen connected electric vehicles in the future.
Aston and LeEco have already revealed the Rapide S with the latest Letv Internet of the Vehicle (IOV), seen in January 2016, and now the focus will be on the development of low-emission vehicle technologies.
First up will be the aim to get a fully electric RapidE on sale in the next two years, with the primary work looking into solutions for battery systems and the powertrain.
Anything else?
Ding Lei, co-founder and global vice chairman of LeEco's 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 socialised 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."
Dr Andy Palmer, Aston's CEO, added: "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."