Leshi Internet Information & Technology founder Jia Yueting is planning to apply for a license to manufacture and sell electric vehicles (EV) in China.
Leshi Internet makes web-enabled televisions and has already made an electric car, which the company is planning to license in the country.
Previously, non auto makers were not allowed to enter the vehicle market in china but now the country is encouraging non auto maker to enter the vehicle market.
Bloomberg reported iResearch analyst Luke Xu as saying: "Leshi has been trying to diversify and it's the CEO's wish to become bigger and enter new industries.
"The government is encouraging the development of the electric-vehicle industry, and everybody sees an opportunity in the fast-developing market."
Auto-parts supplier Wanxiang Group is also planning to get a license to produce EVs in China, and battery maker BYD is also planning for EVs with production of battery-powered buses.
Presently to get EV production license in China, companies need to have more than three years of product research and development experience, and possess production capacity for the vehicles, Bloomberg cited a draft circulated for public comment until Dec. 2.
