Aston Martin will set up a joint venture with its Chinese partner leeco to help Aston Martin launch its first electric vehicle in 2018. The move created an informal relationship between Aston Martin and Faraday future Inc., a Los Angeles electric vehicle startup.

   LETV is a major sponsor of Faraday. Faraday, with about 500 employees, plans to build a factory in the United States and sell electric vehicles in 2017. Although the legendary British brands Aston Martin and Faraday have LETV as a co sponsor, the company stressed that it has not cooperated with Faraday at present. However, Aston Martin said in a statement that the three companies may work together in the future.

   At a joint press conference in Frankfurt, Germany, when talking about the partnership with LETV, Andy Palmer, CEO of Aston Martin, said that the two companies would establish a joint venture. Aston Martin said it would help bring the electric car to the market faster than he expected.