Chinese company’s expansion to U.S. market has never been easy and smooth. LeEco expanded its business to U.S. this year, and LeEco’s CEO Jia Yueting’s letter obtained by the Global Times on Monday showed that the company’s expansion to U.S. had gone too far, despite the limited capital and resources, resulting in “an apparent lack of momentum” in various businesses.

Management should be held responsible, Jia said in the internal letter, and he volunteered to receive an annual salary of only 1 yuan (15 cents) from the company forever.

Brian Hui, head of LeMall Global & SVP, overseas O2O and VP of Le Holdings Group Marketing has responded to TechCrunch reporter Jon Russell’s questions about the current status of the company at TechCrunch Beijing. Hui said that the company is moving to phase 2, to focus on building more healthy financial operation and that it will focus on the development of the self-driving car to launch it in the market by the end of this year.

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Eva Yoo

Eva Yoo is Shanghai-based tech writer. Reach her at evayoo@technode.com