AutoBeta(AutoBeta.net)03/25 Report--

Jia Yueting FF finally welcomed new investors to speed up the production of electric cars in China.

Recently, Zhu Jun, chairman of the ninth city, has had many contacts with Jia Yueting and visited the office of FF's US headquarters with a number of investment bankers. In the latest news today, Zhu Jun and Jia Yueting officially joined hands to confirm the formation of a joint venture company, with the ninth city planning to inject up to US $600 million (about 4 billion yuan).

On March 25, Internet company Ninth City announced that it had signed an agreement with Faraday Future through its subsidiaries to set up a joint venture to manufacture, market and operate electric cars in China.

Details of the cooperation between the two sides are also disclosed in the agreement. The primary goal of the joint venture is to exclusively produce and sell Faraday's future Internet intelligent ultra-luxury electric vehicle in China, which is a model aimed at the Chinese consumer market in accordance with FF 91 technology and design concepts, which is named "Faraday Future's new brand V9 model".

In the future, the ninth city and Faraday will each hold 50% of the shares of the joint venture company, and the ninth city will have control over the operation of the joint venture company, with a maximum injection of US $600 million and phased injection; Faraday will provide exclusive manufacturing licenses for technology and models in the future. marketing, sales, etc. The joint venture expects to produce 300000 smart electric vehicles a year in China, and plans to take off the production line and scheduled sales by 2020.

Through the establishment of the joint venture, we have been able to further promote the implementation of the Sino-US dual-brand dual-home strategy and achieve the landing of our luxury electric car brand in China, Mr Jia said.

In the United States, Jia Yueting also raises money in a variety of ways. Earlier, officials announced the decision to sell 900 acres (about 5463 acres) of land in North Las Vegas, Nevada, at a price of $40 million (about 268 million yuan). In addition, the FF headquarters was revealed to have been sold, and FF will continue to be used by lease in order to prepare funds to help the company maintain its operations.

After parting ways with Evergrande Xu Jiayin, Jia Yueting is teaming up with Zhu Jun, the ninth city. What big drama will be staged this time?

Data show that the ninth city was established in 1998, and in 2004 the company reached a cooperation with Blizzard Entertainment to obtain the exclusive agent operation right of World of Warcraft in Chinese mainland area. In 2005, the ninth city was listed on NASDAQ in the United States, which is the second Chinese online game company to be listed in the United States after Shanda Network.

FF has not disclosed when the FF 91 will be mass produced, but it attaches great importance to Jia Yueting, the Chinese market. In the future, there will be a FF electric car specially built for the Chinese market and produced in China.

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