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Aston Martin and LeEco make steps forward in the development of the Aston Martin RapidE

One step forward for the RapidE, one step forward for the luxury electric vehicle market.

Electric vehicle production takes a step forward in its expansion into the luxury automotive sector following the announcement from leading global technology company, LeEco and luxury sports car brand Aston Martin.

Both parties signed a Memorandum of Understanding (MOU) earlier this week, towards the creation of a partnership that will develop a production version of the Aston Martin RapidE electric vehicle concept.  It is anticipated that the partnership will see the two companies working together in developing and manufacturing RapidE, with potential for adding a range of next-generation connected electric vehicles on behalf of Aston Martin, LeEco and Faraday Future.

The first model developed by this partnership will be the Aston Martin RapidE. 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 utilising the best technologies from the companies’ portfolios.

Aston Martin CEO, Dr Andy Palmer, said: “Aston Martin are dedicated to developing a range of cars with low emission technologies.  We have been encouraged by the project speed and technical depth shown by Letv in the development of the RapidE concept towards full production. Bringing the RapidE to market by 2018 is an important milestone for both companies.”