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Faraday FF, which has not been listed for 5 years due to limited funds for many times, has been frequently reported recently. Not only did it come out that a new company would be built in China, but it would cooperate with Geely, and there was even news that it had passed the listing plan. Recently, foreign media reported that Geely Automobile will invest 770 million US dollars to help FF backdoor listing.

Faraday Future, an electric car company founded by Jia Yueting, will merge with a special purpose acquisition company (SPAC) to go public, Reuters reported. Geely is scheduled to provide $775 million in financing for the deal in the form of a private equity investment in shares in publicly traded companies (PIPE), valuing Faraday at about $2.7 billion in the future. At the same time, foreign media also mentioned that the deal will be announced on Friday (January 29) US time.

Faraday Future and Geely did not comment on the above claims. However, this has a certain connection with the news previously exposed.

On January 25, Reuters reported that Faraday FF had found a new contract manufacturer, namely Geely Automobile, a Chinese company. According to the plan, FF will build a new factory in a major city in China with an initial capacity of 100,000 units, and plans to build a domestic R & D center locally at the same time. Among them, Geely will provide manufacturing services as FF's domestic partner, while FF mainly provides intelligent technologies such as autonomous driving.

If this cooperation is successful, it can benefit both parties and achieve mutual benefit and win-win results. After all, this will be a plan of "strong cooperation". Although Faraday FF has not seen a new car on the market for a long time, it is a leader in the field of intelligent automobiles, and Geely Automobile, as the largest independent brand in China, has strong capital and strength.

FF and Geely also did not comment on the rumor. FF China has been contacted by some media, and relevant people said they would not comment. Geely Holdings officials also responded by saying that they "do not comment on market rumors."

Earlier, Faraday FF had established a new company in Zhuhai with a registered capital of US $250 million. According to the enterprise information, French-French Automobile (Zhuhai) Co., Ltd. was officially established on December 14,2020 with a registered capital of USD 250 million. It is fully owned by FF Hong Kong Holding Limited. The legal person is Jia Chentao, who is also the supervisor of Letv Ecological Automobile (Zhejiang) Co., Ltd.

The business scope includes: sales of new energy vehicles; sales of new energy vehicle production and testing equipment; R & D of automobile parts; car rental; sales of new cars; manufacturing of automobile decoration products; manufacturing of automobile parts and accessories; sales of electric accessories for new energy vehicles; operation of electric vehicle charging infrastructure, etc.

On January 27, some people familiar with the matter said that in FF's latest round of financing, Zhuhai City state-owned assets also participated in the investment of 2 billion yuan, among which Zhuhai two leading state-owned enterprises Gree Group and Huafa Group also participated in the investment, but the investment amount was less than 2 billion yuan.

In addition, Zhuhai Hengqin New District insiders revealed to the media that relevant departments of Zhuhai City are negotiating FF financing and landing cooperation with Faraday in the future. The person said,"The plan is in early contact, the specific details are being discussed, SASAC co-ordinates the capital injection, according to the early contact, the converted capital injection amount is about 2 billion yuan, Faraday has registered in Hengqin New District in the future to establish a new company, the future will be in the form of a joint venture company landing."

Some industry believes that many regional governments want to become pillar enterprises by establishing new energy automobile enterprises, for example, Tesla is welcomed in Shanghai, Xiaopeng Automobile is available in Zhaoqing City, and Hefei City gambles on NIO Automobile. However, there are also some areas that fail to bet, such as Nanjing's Baiteng Automobile, Bojun Automobile and Nantong's Sailin Automobile. Therefore, the introduction of Faraday FF in Zhuhai City is just like the above situation. However, whether or not to bet on the market also depends on the early return.

Therefore, from the above situation, Faraday FF will cooperate with Geely Automobile to produce new models in China. After all, Geely's operation management capability, supply chain system and vehicle manufacturing capability will be able to promote Faraday FF products to land. For Geely, it will also help Geely accelerate its technological transformation.

According to the data, FF (Faraday Future, Faraday Future) was founded in 2016 and officially launched its first mass-production electric vehicle FF91 in Las Vegas in January of the following year. Subsequently, the company announced the completion of Series A financing of US $1 billion, and Le founder Jia Yueting served as global CEO and chief product officer. Jia Yueting is the founder and actual controller of FF. Subsequently, due to the outbreak of Jia Yueting's personal debt crisis, FF fell into fund problem. Although FF once joined hands with Evergrande Group to introduce funds in 2018, due to the disagreement between both parties on the control right issue, FF car building project also continued to stagnate.

With the increasing strength of new energy vehicles, many new forces have realized a sharp rise in stock prices, whether it is BYD of traditional automobile enterprises, NIO, Ideal and Xiaopeng automobiles of new force automobile enterprises, and even Evergrande Automobile, whose models have not been listed, has been evaluated as "successful transformation" by industry insiders, and its market value has soared to twice that of Evergrande. It can be seen that the current new energy automobile market is favored by many capitals, and Jia Yueting's Faraday FF, which has experienced several twists and turns, may really usher in opportunities.

However, for the development of the new energy automobile industry, Xinhua Daily Telegraph, a subsidiary of Xinhua Agency, previously published an article saying that with the continuous development and growth of the new energy automobile industry in recent years, we should also be alert to the industry's "excessive propaganda, speculation and some bad trends."

Benefiting from the market recovery after the epidemic situation, the implementation of subsidy policies and relevant policy support, the wholesale sales volume of new energy vehicles in China in 2020 will be 1.170 million vehicles, with a year-on-year growth of 12.0%, showing the strong growth characteristics of tenacious reversal in the second half of the year, which is obviously superior to the passenger car market. This also reflects that the demand for new energy vehicles in China is constantly improving, which will assist the development of more new energy vehicle enterprises.

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