LeEco to invest $3b in auto park

Huge facility part of internet major's broad plans to go into mass-produced electric vehicles

Chinese internet major LeEco said on Wednesday it will invest 20 billion yuan ($3.02 billion) to build an auto park in Zhejiang province, as part of the group's broad plan to mass-produce electric cars.

The park, to span 2.87 square kilometers, will include an electric-car plant with annual capacity of 400,000 units, the company said.