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Faraday Future, which was founded in 2016, has not been on the market so far, but a number of companies have been set up one after another. A few days ago, it is reported that FF has set up a new company in Zhuhai with a registered capital of 250 million US dollars.

According to enterprise information, French Automobile (Zhuhai) Co., Ltd. was officially established on December 14, 2020, with a registered capital of 250 million US dollars, fully owned by FF Hong Kong Holding Limited and legal person Jia Chentao. He is also the supervisor of Letv Ecological Automobile (Zhejiang) Co., Ltd.

The scope of business includes: new energy vehicle sales; new energy vehicle production and test equipment sales; auto parts research and development; car leasing; new car sales; auto decoration products manufacturing; auto parts and accessories manufacturing; new energy vehicle electrical accessories sales; electric vehicle charging infrastructure operation and so on.

As we all know, FF is the American car company FaradayFuture (Faraday Future, or FF), which was founded in 2016. The FF 91, the first mass-produced electric car, was officially launched in Las Vegas in January the following year. Subsequently, the company announced the completion of $1 billion in round A financing, with Leeco founder Jia Yueting as the global CEO and chief product officer. Jia Yueting is the actual controller of FF. Subsequently, due to the outbreak of Jia Yueting's personal debt crisis, FF fell into financial problems, and the car-building project continued to shut down.

This time, the company is also a new development after FF announced this year that it had received up to $45 million in debt financing loans from two major financial institutions in the United States. Earlier, FF said that the completion of the financing meant that FF had obtained sufficient working capital before the formal IPO and basically survived the short-term cash flow crisis.

Because Bi Fukang, the global CEO of FF, arrived in Beijing from the United States at the end of last year, he said in an interview with the media that the company will speed up the mass production plan of FF 91 in China and is in cooperation with domestic car companies, while the bankruptcy restructuring being carried out by the company's founder Jia Yueting will not have any impact on the company.

As a matter of fact, the new company established in China this time is not the first time that FF has established a new company in China. French Automobile (China) Co., Ltd. was most established in March 2017, with a registered capital of 50 million yuan and the legal representative of Wang Zhigang. The company's business scope includes automobile retail, auto parts, machinery and equipment, Wujinjiaodian, electronic products and so on. The company's largest shareholder is FF Hong Kong Holding Limited, with a stake of 95 per cent, while the second largest shareholder is Letv Automotive Technology (Beijing) Co., Ltd., with a stake of 5 per cent, according to Tianyanchan data.

According to Tianyan survey data, in July, French Automobile (China) Co., Ltd. added two pieces of information about the person subject to execution. The enforcement court is the Beijing Chaoyang District people's Court, with targets of 27690 and 148691 respectively. Now the new company is re-established and has a new legal representative, which also means that French Automobile (Zhuhai) Co., Ltd. may become the focus of FF Automobile in the future.

In spite of this, Jia Yueting's FF has been established for many years, but it is still unable to complete mass production and listing due to financial problems. The word "pre-production car" is also the first time that they have put forward and used it for many years. Jia Yueting also defines FF 91 as a transformative new species and ultra-luxury smart Internet model.

According to the video of the pre-production car officially displayed by FF, it includes the process of the frame entering the workshop, the installation of the battery pack, the installation of the interior and the installation of the exterior parts. It can be seen that the degree of automation of the workshop and production station is not high, almost all have to be done by the engineer by hand, including the fastening of some bolts, but also need to be screwed up by the engineer himself.

The recent frequent revelations of FF91 also show that FF is constantly promoting new progress, including the establishment of a new company in Zhuhai, but people are concerned about when FF will actually be mass-produced and listed.

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