Aston Martin, LETV Partnering on Development of Connected Electric Vehicles

Driving next generation innovation on connected vehicles, the iconic Aston Martin and China's Letv have signed a memorandum of understanding (MOU) on a research partnership for the development of connected electric vehicles.

This partnership will see the two companies working together on research projects ranging from connected car technologies through to manufacturing consultation on new electric vehicles.

It is envisaged that these technologies could feature in the future Rapid E, the first ever all-electric Aston Martin, which will be manufactured at the company’s UK headquarters in Gaydon, Warwickshire. The RapidE will draw on advanced technology solutions from leading global suppliers including those based in the UK and China.

Following the announcement of their collaboration with Aston Martin in April this year, leading Chinese technology company Letv will bring their engineering and product development capabilities to help provide advanced connected car solutions to the RapidE. The new research partnership will also begin a feasibility study focused on bringing Aston Martin consulting expertise in high quality manufacturing to support the production of future Letv electric vehicles.

Commenting on the significance of this new partnership, Dr. Andy Palmer, CEO of Aston Martin said, “We see the connected vehicles as a vital part of our future product portfolio and welcome Letv as a research partners 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 RapidE cars, but also in providing manufacturing assistance through our consulting capability, to Letv.”

Commenting on the significant partnership with Aston Martin, Yueting Jia, board chairman and CEO of Letv Holding Group said, "As the world's first IT company that announced a car manufacturing project, the young and innovative Letv has now entered a research partnership with Aston Martin, a global leader of high-end coupe design, research and manufacturing. 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.”

Founded in 2004, Letv employs more than 10,000 people and is the world’s first video company to go public with a market capitalization of more than $12 billion USD. Letv is a listed internet conglomerate company in China started by its two founders, Jia Yueting and Liu Hong, in a small office in Beijing, the company today is expanding its businesses globally providing global audiences a chance to experience disruptive technology at its best.