BAIC and LeTV sign official strategic cooperation partnership agreement

Gasgoo.com (Shanghai March 25) - On the heels of their investment in US electric vehicle design company Atieva, BAIC and LeTV have officially signed a strategic cooperation partnership agreement. The agreement was signed in Hong Kong earlier this week. BAIC is working with its partner on a new Internet car, which is scheduled to premiere at next month’s Auto Shanghai 2015 expo.

According to the terms of the agreement (pictured), LeTV will work with BAIC to supply intelligent, EUI operations and automobile Internet systems for the new vehicle. LeTV has earned the full support of the Beijing municipal government for its projects.

LeTV has already formed a top-of-the-line R&D team in the US’ Silicon Valley, with some of its experts having experience working at leading automobile enterprises like Tesla, Mercedes-Benz, BMW, VW and Ford.

Following the new, LeTV’s listed company LeTV.com saw its stock price rise 0.8 percent, totaling 90.72 RMB ($14.83).