Reuters reports that LeEco, a Chinese tech conglomerate with ambitions to enter the electric car market, is trying to sell a 49-acre plot of land in Silicon Valley that was to be the site of its U.S. headquarters. The planned buyer is reportedly a Chinese developer called Genzon Group, who would buy the property for $260 million.

The potential sale is the latest in a string of indicators that LeEco is struggling after a period of rapid expansion. CEO Jia Yeuting acknowledged cash flow issues, and announced he would not take his annual salary, last November. ...