Jia Yueting, who is backing Faraday Future, has stated that LeEco’s fundraising plans are developing smoothly and there are no plans to give up on their all electric supercar dream.

Jai Yueting has been reassuring investors about the company’s capital position which had come under scrutiny after it halted trading in the shares of its Shenzhen-listed unit last week.

The company announced their plan in August to invested 12 billion (yuan) in an electric vehicle factory which would be capable of producing 400,000 vehicles a year by 2018.

LeEco also has a partnership with the electric car start-up company, Faraday Future, however construction on its Nevada factory has been halted.

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