Aston Martin and LeEco have agreed to co-develop a production version of the Aston Martin RapidE electric sedan.
Overnight Aston Martin confirmed that it had signed a memorandum of understanding of Chinese electronics firm LeEco, formerly known Letv. LeEco and Aston Martin hope to have the all-electric RapidE on the market by 2018.
LeEco is also working with startup car maker Faraday Future, which unveiled its 745kW FFZERO1 concept at the CES this January.
In statement, Andy Palmer, Aston Martin's CEO, 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."
Based on the existing Rapide sedan, the RapidE EV was unveiled last October during a visit by Chinese president Xi Jingping to the UK. That vehicle featured an electric drivetrain developed by Williams Engineering.
Unusually, the company gave no figures — not even ballpark numbers — for the RapidE's power and torque outputs, nor its projected driving range.
Early in 2015, Palmer stated that he wanted the British luxury sports car maker to build an electric car with around 600kW of power and 320 kilometres of range.