AutoBeta(AutoBeta.net)07/28 Report--

According to the Tianyan check App, recently, Jia Yueting added a number of executive information, the case numbers are (2021) Jing03 Zhihui 264, (2021) Jing03 Zhihui 265, etc., with a total execution target of more than 4 billion yuan. The enforcement courts are all Beijing No. 3 Intermediate people's Court. Among them, the relevant person subject to execution also includes Letv Holdings (Beijing) Co., Ltd. At present, the total amount of execution of Jia Yueting has exceeded 9 billion yuan.

On the morning of July 22nd, Faraday Future officially listed on the NASDAQ Stock Exchange and held a bell-ringing ceremony to begin official public trading under the stock code "FFIE". Faraday's future listing for Jia Yueting, perhaps the greatest significance is to ease the financial pressure. Jia Yueting said in an interview with China Business after Faraday's future listing that Faraday's future listing means a new starting point, brings important capital flow to the company, and then will go all out to achieve mass production and delivery of cars in 12 months, and has great confidence in FF91's on-time production. When asked if he would return to China, Jia Yueting gave an accurate answer: "that's a must!" With regard to the debt problem that the public is most concerned about, Jia Yueting responded, "I will solve it completely." "at this stage, the goal is to deliver the car to top users around the world in a timely and high quality manner, subverting traditional ultra-luxury car brands such as Maybach, Ferrari and Bentley," Jia said.

The Futurist Alliance version of FF 91, which is limited to 300 units worldwide, has been sold out, according to Faraday Future's website. It is understood that FF 91 announced that it will start booking on July 22, with a priority reservation amount of 50,000 yuan. Although the exact price of the "futurist Alliance" version of FF 91 has not been officially announced, it is reported that the "futurist Alliance version" of FF 91 sells for $280000 in the United States and about 2.8 million yuan in China.

According to relevant data, as early as September 3, 2019, FF announced that its founder Jia Yueting would resign as CEO to become the chief product and user officer, and appointed Bi Fukang, former chairman of Baiteng, as FF global CEO. After leaving office, Jia Yueting said in a post on his Weibo that "the reason for giving up everything is to make the FF and repay the remaining secured debt in full as soon as possible." Then, in October 2019, Jia Yueting filed for bankruptcy restructuring in order to completely solve the debt problem. Jia Yueting's debt handling team officially said that as part of the personal bankruptcy reorganization plan, the creditor trust controlled and managed by the creditor committee and the trust trustee will also be established at the same time, and all Jia Yueting's assets and related income determined by the US court will also be transferred to the creditors in this way. After the completion of the plan, Jia Yueting will no longer hold any future stake in Faraday. The FF website also announced that in order to thoroughly solve the personal domestic debt problem, Mr. Jia Yueting, founder and CPUO of FF, has filed for personal bankruptcy reorganization in the United States and set up a creditor trust controlled and managed by the creditor committee and the trust trustee. Upon completion of the plan, Mr. Jia Yueting will transfer all his equity in Smart King Limited (Faraday Future Global Holdings) to the creditor trust fund to better protect the interests of creditors and repay the remaining debt. FF also said in the announcement that Jia Yueting's personal bankruptcy restructuring will not affect the normal operation of FF, and will produce multiple benefits to FF. In addition, Jia Yueting gave up all FF shares only to completely pay off the debt and to make the FF. Jia Yueting will continue to lead FF to achieve strategic goals to maximize the value of equity assets and creditor trust assets as the founder and CUPO of the company.

For Jia Yueting, the listing of FF may allow FF91 to mass production, and Jia Yueting's debt problem may also be solved. Earlier, before filing for bankruptcy restructuring, Jia Yueting said: "the only reason I give up everything is to make FF, repay the remaining secured debt as soon as possible, and realize the dream of changing the auto industry." It can be said that the passage of bankruptcy reorganization is the first step for Jia Yueting to make FF, and the listing of new cars brings new hope to it, but for Jia Yueting, the mass production of FF91 needs more funds, and the gap in the need for funds will continue to be enlarged. In other words, it is still unknown whether Jia Yueting will be able to solve the huge debt after FF goes public.

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