Chinese billionaire Jia Yueting has revealed his plans to launch a Tesla Motors rival dubbed Letv.

Currently, Letv acts as the Chinese version of Netflix but is also venturing into the automotive market. In fact, Letv has an ongoing collaboration with Aston Martin with the two firms set to be working together on connected technology. What’s more, Letv also had ties with sports car maker Lotus as the Chinese firm’s auto arm is led by Tony Nie who helped launch Lotus into the Chinese market.

As it stands, about 600 staff have been recruited to work with Letv’s car division with many of those workers believed to have been poached from the likes of Tesla, BMW and General Motors. The company has plans to launch a number of models with the first set to be an electric supercar appropriately dubbed ‘Le Supercar’.

A number of sketches of the vehicle have been released and they show that it will feature a very eye-catching and sleek design. When it launches in concept guise at the Beijing Auto Show 2016, it will feature battery, inverter and motor technology developed in house by Letv with its design also coming from the firm itself.


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