The company formed several partnerships including with luxury sports car brand Aston Martin for RapidE that incorporates the LeEco Internet of the Vehicle (IOV) system, Chinese ride-sharing app Yidao Yongche and Beijing Dianzhuang Technology Ltd. and start-up electric car firm Faraday Future.

LeEco also roped in Chinese autonomous driving expert Kai Ni to solidify its positioning in the automotive value chain. The company said the car would be in the market by 2018.

Aston Martin and LeEco signed a memorandum of understanding (MoU) in January and revealed the first results of their collaboration - an Aston Martin Rapide S at the Consumer Electronic Show earlier this year.