Zhang Hailiang LeTV left the company, low-key to join the electric coffee, LeTV car is also lost
Recently, it was reported that Zhang Hailiang, the former CEO of LeTV, has left the company and joined a new energy vehicle startup. This marks another significant setback for LeTV, which has been facing numerous challenges this year. I hope the company can recover and regain its footing soon.
Zhang Hailiang, a well-known figure in the automotive industry, recently took on the role of chairman and CEO at Beijing Electric Coffee Automobile Technology Co., Ltd. (referred to as "Electric Coffee Car"). His move has raised questions about the future direction of both his previous employer and the new company he's now leading.
On October 16, an official from Electric Coffee Car confirmed that Zhang Hailiang had taken over the company's operations. This means he is no longer the CEO of LeTV, although he still serves as vice chairman of the company. His transition highlights a major shift in leadership within the electric vehicle sector.
Founded in June 2015, Electric Coffee Car initially saw investment from LeTV, which acquired a 35% stake in August 2015. However, by the end of 2016, LeTV’s ownership dropped to just 7.14%, and it has since completely exited the company. Today, LeTV is no longer listed as a shareholder.
During its time with LeTV, Electric Coffee Car partnered with two vehicle manufacturers. The first model, the Zotye Sesame E30, launched in 2015. Looking at the progress made since then, Electric Coffee Car has moved ahead of its former investor, LeTV.
LeTV Has Fully Withdrawn
Zhang Hailiang had already been involved with Electric Coffee Car as early as 2016. Before joining LeTV, he held high-ranking positions at SAIC Group, including general manager of SAIC Volkswagen. In April 2016, he joined LeTV as president and COO of LeTV Supercar, and later became its global CEO in March 2017. During this time, he also served as the legal representative of Electric Coffee Car.
"At the time, LeTV had several 'pro-sons,' including Faraday Future and Lucid Motors. Electric Coffee Car wasn’t getting much attention," said a source close to the company. However, after Zhang Hailiang officially joined, the company's situation changed significantly.
According to industrial and commercial records, LeTV is no longer listed as a shareholder of Electric Coffee Car. The current shareholders include Beijing Jiecheng Technology and natural person Li Chunlin, along with new investors such as Rhein Wish Technology (HK) Limited, Ningbo Mingneng Investment Management Partnership, and Ningbo Haicheng Investment Management Partnership. Notably, the latter two were established in August this year, suggesting they may have been set up to absorb shares previously held by LeTV and others.
A source revealed that the new shareholders are actually part of Zhang Hailiang's team, and LeTV has completely withdrawn from the company. Additionally, the legal representative of Electric Coffee Car has changed to Jindi, the company's chief manpower officer, further indicating a separation from LeTV.
In addition to Zhang Hailiang, other executives like Xiang Dongping, former vice president of Volvo China, have joined the team as CMO. The original CEO, Li Chun, now serves as director and president. Xiang is currently the legal representative of Shaoxing Electric Coffee Automobile Sales Co., Ltd., a subsidiary of the company.
The First Model Has Been Quietly Mass-Produced
After leaving LeTV, many industry observers believe that Electric Coffee Car's development path will be smoother. Unlike LeTV, which often made bold announcements, Electric Coffee Car has remained relatively low-key in its efforts to build cars.
Since its founding, the company has partnered with Zotye Motor to launch the Sesame E30, a pure electric vehicle later rebranded as "Zhongtai Sesame." Although the collaboration faced challenges due to limited support from LeTV, the model eventually found a new home under Zhongtai Auto.
In July 2016, Electric Coffee Car also partnered with Southeast Auto to develop the EV10, a pure electric vehicle that entered the road motor vehicle manufacturing list. It is expected to be officially launched this year, though production has been delayed due to some unresolved issues.
According to insiders, the EV10 is being upgraded and will likely be released this year, still produced by Southeast Auto. However, the company is not relying solely on a foundry model. A company source mentioned that Electric Coffee Car is preparing to apply for its own production qualifications, having already met key requirements such as 15 prototypes, a production base, and a research and development center.
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