Tesla wannabe LeEco to sell Silicon Valley site amid cash crunch: sources

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.