LeEco CEO Jia Yueting took aim at traditional car manufacturers and U.S. tech companies, claiming they were “outdated.”

The company is currently seeking to condense five years of car development into three to release an Aston Martin electric supercar by 2018.

In the meantime LeEco launched the ‘LeSEE’ electric car concept last week. The company aims to eventually sell vehicles that cost less than Tesla, generating revenue primarily through LeEco’s connected car ecosystem.

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Cate Cadell

Cate is a tech writer. She worked as a journalist in Australia, Mongolia and Myanmar. You can reach her (in Chinese or English) at: @catecadell or catecadell@technode.com