Leshi seeks nod for electric vehicles

A Chinese video website operator is applying for a license to produce electric vehicles in the world's largest auto market, as the government prepares a policy to open auto manufacturing to non-carmakers.

Leshi Internet Information & Technology (Beijing) Co, which streams dramas including NBC's The Blacklist on its letv.com website, has spent the past year developing an EV with the ambition of helping China upend traditional auto industry leaders like the US, Europe, Japan and South Korea while cutting pollution, according to the Beijing-based company.

"This is our dream and passion," Chairman and President Jia Yueting, 41, said in an interview by e-mail, without elaborating on when the car will be available for sale.

"Look at China's skies, all responsible corporate citizens want to do something about it. This is the truth."

Leshi's announcement comes after Google Inc in May said that it plans to deploy at least 100 fully autonomous vehicles that it designed in tests starting this year.

China is proposing to grant auto manufacturing licenses to companies other than carmakers to encourage innovation and create local challengers to Tesla Motors Inc, as part of a broader goal to lead the global auto industry.

"Leshi has been trying to diversify and it's the CEO's wish to become bigger and enter new industries," Luke Xu, a Beijing-based analyst with iResearch, said by phone.