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According to the Faraday Future official account, FF Global Partners issued a letter to the creditors of the company's founder, Mr. Jia Yueting. FF said in the letter that it is hoped that all creditors will vote in favor of the bankruptcy restructuring of Jia Yueting, founder of FF. Only if FF is a great success, can Jia Yueting achieve full or even over-payment of debts, realize his desire to fulfill his duties to creditors, and FF's dream of building a shared intelligent travel ecosystem and transforming the automobile industry.

FF also stressed that FF91 is only one step away from mass production, and FF has filed nearly 1500 patent applications in the past six years, with a patent valuation of more than $1 billion. As the only company in the global automotive industry to implement the partnership system, FF will become a great company and an important cornerstone to maintain differentiated competitive advantage in the industry.

It is worth mentioning that Faraday Future Faraday Future, an electric vehicle start-up founded by Jia Yueting in the United States, received $9.16 million (64.83 million yuan) in cash assistance from Paycheck Protection Program, the US salary guarantee program. It is understood that the money is the US government's cash assistance to local enterprises, which is issued in the name of loans, and the special funds can only be used to pay employees' wages, office rent and other expenses. If the enterprise does not lay off staff for eight consecutive weeks, and the money is used to pay wages, rent, mortgage interest or public utilities, of which the salary portion is not less than 75% of the total loan, then the loan will not be repaid, and the loan company does not need any mortgage. and you don't have to pay for the loan.

On October 14, 2019, Jia Yueting filed for bankruptcy reorganization in Delaware. In April this year, the Jia Yueting debt Group held its second online meeting of creditors, which mainly discussed the details of the bankruptcy reorganization plan, such as the debt list, the net debt, the mode of operation of the creditor trust, the voting process and so on. If the bankruptcy reorganization vote is passed, the bankruptcy reorganization will be finally confirmed by the Central District Court of California at a hearing held on May 21.

The vote of the creditors is of great importance. If creditors refuse FF bankruptcy reorganization, then FF will have to carry out bankruptcy liquidation. Once it enters bankruptcy liquidation, Jia Yueting's equity will be auctioned directly, the funds will be repaid to creditors in order of priority, and FF will enter the period of life and death.

Bi Fukang, the current CEO of FF, has said that Jia Yueting, as the founder and CPUO of FF, the success of personal bankruptcy reorganization will not only affect the life and death of FF, but also the interests of all creditors. If Jia Yueting's bankruptcy and restructuring goes smoothly, FF will fully launch the landing plan in China, which is of great significance for FF to complete equity financing and IPO. It is understood that FF91, the first model of FF, will be delivered in September.

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