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Tesla wannabe LeEco to sell Silicon Valley site amid cash crunch: sources
Published Fri, Mar 17, 2017 · 09:50 PM
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Hong Kong
CHINESE technology conglomerate LeEco is looking to sell a 20-hectare US Silicon Valley property less than a year after buying it from Yahoo Inc, sources said, in what is the latest effort by the firm to ride out a cash crunch.
LeEco, one of China's most ambitious companies that grew from a Netflix-like video website to a business empire spanning consumer electronics to cars within 13 years, is struggling to support its goals that include beating Elon Musk's Tesla Motors in premium electric vehicle making.
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