LeEco Receives Cash Injection, Gets $2.18 Billion Investment

Due to rapid pace of growth in various markets, LeEco faced financial issues and was on verge of going bankrupt. Shortly after LeEco’s founder and chairman Jia Yueting confirmed rumours, they managed to secure commitments for $600 million to support its automotive and other high-tech businesses.

Even that wasn’t enough and the company continued looking for investment and now they have received another financial injection from property developer Sunac China. These new investments will help LeEco to get on their feet and concentrate on developing innovative products such as smartphones, driverless electric vehicles, and more.