Founder of LeEco's Ex-Second-Largest Shareholder Stands By LeEco Supercar
Jiang Xuan
/SOURCE : Yicai
Founder of LeEco's Ex-Second-Largest Shareholder Stands By LeEco Supercar

(Yicai Global) July 31 -- LeEco founder Jia Yueting has imploded financially, but Zeng Qiang, Founder of China Bridge Capital, once LeEco's second-largest shareholder, still voices support for LeEco's supercar.

Jia invited Zeng to the Los Angeles headquarters of Faraday Future (FF) on July 26 and the car's performance astonished the latter during a test drive of the FF 91 to meet senior executives, Zeng told his circle of friends on the WeChat messaging app.

China Bridge Capital later called on all parties to establish a relief fund of CNY10 billion to help LeEco-family companies facing financial difficulties. 

"It is time for all entrepreneurs, management teams and investors in LeEco to work together to get through the difficulties. Jia Yueting is a key figure for LeEco. LeEco cannot live without Jia, no matter whether in the past, now or in the future," Zeng told Yicai Global.

Jia had also earlier invited Liu Gang, Shenzhen Capital Group's executive general manager, to FF's research and development headquarters where Liu took the supercar out for a spin and was also amazed.

LeEco supercar seems to be frequently inviting Chinese investors to visit in a bid to enlist their aid.

Jia Yueting resigned all LeEco-related positions on July 6. He has been working on FF-related affairs in Los Angeles ever since. No timetable is yet available for when he will return to China.

China Bridge Capital has dumped its LeEco shares since 2016. It still held a 5.39% stake in LeEco early last year, but this dropped to 3.53% by year's end.

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Keywords: LEECO , China Bridge Capital , Investment Fund , LETV , LeEco Supercar