I will shoulder all responsibility for LeEco's challenges: Jia Yueting

Updated 2017-07-06 16:51:32 Global Times

"I will shoulder all the responsibility for the challenges LeEco is facing now, and will stay accountable for the company's employees, users, clients and investors," Jia Yueting, chairman of LeEco, posted on his Weibo account on Thursday in response to recent public concern over LeEco's capital crunch and the accusations about his financing problems.

"I'm still the executive director and largest shareholder of LeEco. And resigning from the position of CEO of Leshi Internet Information & Technology Corp, listed arm of LeEco, as well as other important roles, all aims at devoting myself to the mass production and quick market appearance of FF91," Jia said in the statement, after apologizing for worrying the public.

LeEco is the main investor of U.S.-based Faraday Future's all-electric car FF91, which the U.S. startup claimed is the fastest in the world.

While the company will keep delivering the best products to consumers, Jai said that LeSEE, the group's vehicle unit, would still carry out its strategy as planned. "Even the loudest cynic voices cannot crush our dream of reforming the auto industry," Jia stressed.

Jia urged the public to the give LeEco and LeSEE some time, "and we will be able to pay back all the debts to financial institutions, suppliers and other entities."

He also thanked friends who supported him and his employees at LeEco who are also committed to the dream.

On Monday, LeEco confirmed that the court has ordered the freezing of the assets of Jia over alleged financing problems in the smartphone business. The frozen assets were valued at 15.9 billion yuan (.33 billion), according to media reports.

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