Aston Martin has signed a Memorandum of Understanding with LeEco that paves the way for a production version of the RapidE concept. Set to arrive in 2018, the production model will be a high-performance electric vehicle that manages to combine luxury with efficiency. The companies declined to mention specifications but noted they have been working on identifying a powertrain and battery system for upcoming model.

Aston Martin has signed a Memorandum of Understanding with LeEco that paves the way for a production version of the RapidE concept.

Set to arrive in 2018, the production model will be a high-performance electric vehicle that combines luxury with eco-friendliness.  The companies declined to mention performance specifications but mentioned they are working on identifying a powertrain and battery system for the upcoming model.

Originally unveiled last year, the RapidE concept was jointly developed with Williams Advanced Engineering and was built to demonstrate Aston Martin's desire to build zero-emission sports cars.  At the time, the Aston Martin said if the production model was green-lighted it would be built in the United Kingdom and arrive in approximately two years.

Aston Martin and LeEco also announced the agreement could be expanded in the future to include a range of next-generation of electric vehicles from both companies as well as Faraday Future.

In a statement, Aston Martin CEO Dr Andy Palmer said "Aston Martin is dedicated to developing a range of cars with low emission technologies. We have been encouraged by the project speed and technical depth shown by Letv in the development of the RapidE concept towards full production."  He went on to say brining the RapidE to market will be an "important milestone for both companies.”

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Aston Martin RapidE confirmed for production