The Chinese brand, LeEco, are reported to be suffering some issues according to Bloomberg. They have tried to hit the US market hard with smartphones, TVs and even autonomous car development with Faraday Future. Check out the video below if you don’t know who Faraday Future are, the video is from BBC Click:
The issues seem to be around payroll of the staff at the end of last March. Employees had to move from China to the US as part of the $2.2 billion cash injection from a property firm, as part of the move, there has been an impact on staff morale moving to a different culture of working. The executive committee is very much Chinese led as the US executives have reportedly left for other companies.
Jia Yueting, the Chairman of the Board, has encouraged the parent company Leshi to increase their shares up to 100 yuan as they try to balance the ship whilst they go through the transition to the US.