On November 28, the Natural Resources and Planning Bureau of Deqing County, Zhejiang Province, responded to a reporter’s report that LeEco Eco-Car (Zhejiang) Co., Ltd. had spent 420 million yuan in 2016 and 2017 and that the land taken by Deqing, Zhejiang Province, had been recovered. “It’s recently recovered, ” said a staff member of the owner’s equity section of the Natural Resources and Planning Bureau of Deqing County, Zhejiang Province. If he doesn’t develop, we take it back, we want to develop, then we develop. ”
As for the disposal of the money to buy the land, the staff did not give a clear answer, saying only: “We are negotiating the recovery, this is our internal operation of the matter.” Anyway, you know the land has been reclaimed. ”
Check the network of public resources trading center in Deqing County, Zhejiang Province, to see that LeEco Eco-Car (Zhejiang) Co., Ltd. spent 420 million yuan to build an eco-town in Zhejiang Deqing won two land.
On April 26, 2017, LeEco Eco-Automotive (Zhejiang) Co., Ltd. took 452,590 square meters of land in Deqing, Zhejiang Province, with a total transaction price of about 140 million yuan, with an industrial application. On December 9, 2016, LeEco Eco-Automotive (Zhejiang) Co., Ltd. took 900,364 square meters of land in Deqing, Zhejiang Province, with a total transaction price of 280 million yuan.
In August 2016, LeEco Holdings announced that it would invest nearly 20 billion yuan to build the LeSEE Eco-Autosuper Factory and Automotive Eco-town in the Deqing Moganshan National Economic Development Zone in Zhejiang Province. According to deqing County Natural Resources and Planning Bureau, in the early stage of planning, LeEco Eco-Automotive Industry Park will be divided into automotive intelligent production park, industrial supporting park and experience park and other parts, planning area of about 4300 acres, the first phase of the industrial park project to invest about 11 billion yuan, an area of more than 2000 acres, When completed, the first phase and the second phase of the project are expected to achieve a total production capacity of 400,000 vehicles. At present, however, no substantial progress has been seen on these items.
In addition to the land being recovered, state-owned shareholder Deqing Kaihang Construction Development Co., Ltd. (Deqing Kaihang) also withdrew from the operating entity of the above-mentioned project.
On November 25, Deqing set sail and withdrew from the ranks of shareholders of LeEco Eco-Car (Zhejiang) Co., Ltd. Deqing kaiissa is wholly owned by the Management Committee of the Moganshan High-tech Industrial Development Zone in Huzhou. As early as March 2017, Deqing Kaihang Construction and Development Co., Ltd. invested in LeEco Eco-Automotive (Zhejiang) Co., Ltd., which had a 20% stake.
In addition, on November 25, A series of personnel changes occurred at LeEco Eco-Automotive (Zhejiang) Co., Ltd.
Jia Yueting under the “veteran” Wu Meng stepped down as legal representative and executive director, ren Yong took over. At the same time, Zhang Hailiang, the former global CEO of LeEco Supercars, stepped down as general manager and was also replaced by Ren Yong. Ren Yong does not have much public information.
Industry and commerce data show that LeEco Eco-Automotive (Zhejiang) Co., Ltd. was established in September 2016, with a registered capital of 2.5 billion yuan, the company’s business scope includes new energy vehicles and parts technology research and development, product development, technology development, auto parts manufacturing. The company is currently wholly owned by LeEco Motor (Beijing) Co., Ltd.
Sky-eye data show that LeEco Automobile (Beijing) Co., Ltd. used the name Fardi (Beijing) Network Technology Co., Ltd. On August 1, 2019, the company’s legal representative was changed from Wu Meng to Liu Feng, while Wu Meng was removed from the executive director and manager and replaced by Liu Feng.
However, even after stepping down as legal representatives of LeEco Automobile (Beijing) Co., Ltd. and LeEco Eco-Car (Zhejiang) Co., Ltd., Wu Meng is still the legal representative of LeEco Holdings (Beijing) Co., Ltd., and Jia Yueting currently owns 92.7% of LeEco Holdings (Beijing) Co., Ltd.
Domestic car-building plans are being challenged, and Jia Yueting’s car-building program in the U.S. is still under way.
In 2017, after problems with LeEco’s ecological chain, Jia Yueting left for United States to start the electric car company Faraday Future (Faraday Future, or “FF”).
In September 2019, FF said it would focus on internal and external resources to promote equity financing, with in 9 months after the successful financing to achieve the production delivery of FF 91, within 15 months to achieve the release of the FF 81 pre-production vehicle, as well as future models and next-generation core technology development preparation.
In October, Mr Jia announced a personal bankruptcy reorganization in the US, saying it would transfer all assets to creditors through a creditor trust, which is controlled and managed by the creditor committee and trust trustees. After the completion of the program, Jia Yueting will no longer hold any FF shares.
On November 26, 35 creditors and lawyers from 20 Jia Yueting creditors came to FF’s Los Angeles headquarters for the creditors’ meeting. Jia Yueting said that the success of the debt restructuring determines the life and death of FF, but also determines the interests of creditors. However, some uninvited creditors suspect that Jia Yueting has the potential to conceal property.