LeTV plots its foray into the auto world with electric car

Internet company developing cut-price 'supercar' to tackle nation's air pollution

When word spread last week that Infiniti's former senior manager was joining Chinese Internet company Leshi Holding to develop a car manufacturing business, the company's share price surged.

On Jan 6, Chinese media reported that Lyu Zhengyu was joining Leshi Holding (Beijing) Co as the China head of the electric "supercar" project and that he would report directly to Jia Yueting, the company's chairman and president.