Jia Yuet­ing re­signs all Leshi roles

China Daily (Hong Kong) - - BUSINESS -

Fleet, Ford’s Asia-Pa­cific chief, said in an in­ter­view he was “pos­i­tive” and “op­ti­mistic” about the com­pany’s sales in China in the sec­ond half. Jia Yuet­ing, founder of Chi­nese in­ter­net com­pany LeEco, re­signed all his po­si­tions at the listed video-stream­ing arm Leshi In­ter­net In­for­ma­tion and Tech­nol­ogy Corp. The move came as LeEco con­tin­ues to strug­gle with a cash crunch and un­paid debt, which has prompted a lo­cal court to freeze al­most all of Jia’s shares in Leshi, the Shen­zhen-listed unit. Leshi said in a fil­ing on Thurs­day that Jia stepped down as the chair­man and ex­ited the board of direc­tors. He will fo­cus on LeEco’s au­to­mo­bile unit, which is not listed. Sun Hong­bin, chair­man of the real state de­vel­oper Sunac China Hold­ings, joined the board of Leshi. Sunac and other in­vestors poured 16.8 bil­lion yuan into LeEco at the be­gin­ning of this year. ve­hi­cles world­wide in the first quar­ter. It said the ma­jor fac­tor af­fect­ing its Q2 de­liv­er­ies was a se­vere pro­duc­tion short­fall of 100 kilo­watt-hour bat­tery packs, which are made on new pro­duc­tion lines us­ing ad­vanced tech­nolo­gies. Tesla pro­duced 25,708 ve­hi­cles in Q2, bring­ing pro­duc­tion for the first half of the year to 51,126, it said. For the sec­ond half of the year, Tesla said de­liv­er­ies are likely to ex­ceed those in the first half of the year.

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