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, left the company and joined a new energy vehicle startup. This marks another significant loss for LeTV, which has been facing numerous challenges this year. Hopefully, the company will bounce back soon.
Zhang Hailiang, a seasoned figure in the automotive industry, has now taken on the role of chairman and CEO at Beijing Electric Coffee Automobile Technology Co., Ltd. (referred to as "Electric Coffee Car"). His move came after he stepped down from his position at LeTV, though he still holds the title of vice chairman there.
Founded in June 2015, Electric Coffee Car initially saw investment from LeTV, which held a 35% stake. However, by December 31, 2016, LeTV had reduced its ownership to just 7.14%, and it is no longer listed as a shareholder. This indicates that LeTV has completely exited the company.
During its time with LeTV, Electric Coffee Car formed partnerships with two automakers. One of the most notable models was the Zotye Sesame E30, launched in 2015. Interestingly, this model later rebranded as “Zhongtai Sesame†and was eventually handed over to Zhongtai Auto for further development.
LeTV's exit from Electric Coffee Car seems to have been a strategic move, with new shareholders stepping in. According to insiders, these new investors are closely tied to Zhang Hailiang’s team, signaling a clean break from LeTV’s previous involvement. Additionally, the legal representative of Electric Coffee Car has changed, suggesting a shift in leadership and direction.
In addition to Zhang Hailiang, other industry veterans have also joined the Electric Coffee Car team. For example, Xiang Dongping, a former executive at Volvo China, now serves as the company’s CMO. Meanwhile, the original CEO, Li Chunlin, remains as a director and president.
Despite its low-key approach compared to LeTV, Electric Coffee Car has already made progress. The Sesame E30 was produced and sold under a partnership with Zotye, while an EV10 model was developed in collaboration with Southeast Auto. Although the EV10 faced delays, it is expected to be launched this year, with production still handled by Southeast Auto.
The company is also preparing to apply for its own electric vehicle manufacturing license. With 15 prototypes, a dedicated R&D center, and a production base, Electric Coffee Car is laying the groundwork for future growth. It appears that the company is positioning itself for long-term success, independent of its past ties to LeTV.
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