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.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58September 20 2018 22:08:56

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16September 20 2018 22:08:56

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18September 20 2018 22:08:56

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

China World Business Sports Showbiz Audio
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
China World Fun Travel Entertainment Sports
Beijing Shanghai Guangzhou
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords