A big funder behind secretive car startup Faraday Future is in talks to buy Yahoo’s old land

LeEco, the company partnered with the startup electric-car maker Faraday Future, is apparently in talks to scoop up a giant piece real estate from Yahoo, the Silicon Valley Business Journal reported.

The land is about three miles from LeEco’s newly-opened US headquarters in San Jose. The lot is approved for up to 3 million square feet of research and development space

According to the Business Journal, Yahoo intended to use the lot as a second campus. The beleaguered internet giant originally bought the property for $106 million in 2006.

The deal, if it goes through, suggests that LeEco is serious about it’s expansion in the US. The company, formerly known LeTV, has already established itself as a massive media conglomerate in Beijing. The move to the US follows a number of Chinese tech giants who have taken up residence in Silicon Valley — ostensibly to tap the region’s wealth of tech talent.

NextEV, another Chinese electric-car startup, has an office just steps away from LeEco.

NOW WATCH: Only in San Francisco — inside the 232-square-foot micro apartment that sold for nearly $425,000