Aston Martin Signs MOU With Chinese Technology Firm LETV

Commenting on the partnership, Dr. Andy Palmer, CEO of Aston Martin stated, "We see the connected vehicles as a vital part of our future product portfolio and welcome LETV as a research partner in this exciting venture. Both the Chinese and British Governments have taken meaningful steps to encourage the widespread adoption of zero emission technologies, and we look forward to utilizing our expertise not only for our Rapid E car, but also in providing manufacturing assistance through our consulting capability, to LETV."

LETV, a company known for its expertise in engineering and product development capabilities, will provide Aston Martin with advanced connected car solutions for its Rapid E concept electric-car. The partnership will also be beneficial to LETV. Aston Martin's prowess in the field of high quality manufacturing will be studied in order to improve and support the production of future LETV made EVs.

"It is a win-win venture which symbolizes the deepening collaboration and reformation between IT and automobile industries. This project will be a major milestone for LETV in implementing its SEE Plan and proving again the unique charm of the company's strategy of building an open ecosystem. In the future, it possible that the two parties will not only work together on IOV (Internet of Vehicle) technologies, but also leverage their respective resources to carry out long-term, all-around cooperation into building connected electric vehicles with disruptive values, aiming at providing the next-generation transportation tools and traffic solutions for both China and the UK, and indeed for the world," said Mr. Yueting Jia, Board Chairman and CEO of LETV Holding Group.