This new signing extends the existing collaboration between the two companies. In January 2016, LeEco and Aston Martin revealed the first results of their partnership—an Aston Martin Rapide S incorporating the latest Letv Internet of the Vehicle (IOV) system.

The second area of the partnership—the development of low-emission vehicle technologies—has been accelerated as they have developed their respective plans for launching a range of new electric vehicles during the second half of the decade.

The Aston Martin RapidE concept was created to explore how the company can take an existing production vehicle and create an all-electric sports sedan. Since the creation of this concept vehicle, Aston Martin and Letv have been advancing the work on production feasibility including the identification of technology solutions for battery systems and powertrain.

Both companies are now focused on bringing the RapidE to market in 2018 utilizing the best technologies from the companies’ portfolios.

“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 socialized cars. We have been targeting the highest standard in the auto industry in terms of design, R&D and manufacturing of our electric cars.

—Ding Lei, co-founder and global vice chairman of SEE Plan