AutoBeta(AutoBeta.net)08/30 Report--

On Aug. 30, BNP Paribas Energy Transformation Fund invested $40 million (about 250 million yuan) in FF on behalf of BNP Paribas Asset Management, according to Faraday Future filings with the Securities and Exchange Commission (SEC). It is understood that BNP Paribas Energy Transformation Fund is one of the investors in FF listed PIPE. At present, the assets under management of BNP Paribas Asset Management is 445 billion euros, which is the investment management business of BNP Paribas, a large international financial institution, and ranks among the top 30 fund companies in the world.

On July 22nd, it was officially listed on the NASDAQ Stock Exchange in the United States and held a bell-ringing ceremony. The official public trading began with the stock code "FFIE". The stock code was "FFIE". The listing also made it possible for Jia Yueting to return home, and there was also a great increase in confidence in Jia Yueting and FF. Jia Yueting said publicly: Faraday's future listing means a new starting point and brings an important capital flow to the company, and then it will go all out to achieve mass production and delivery in 12 months. I have great confidence in FF91's on-time production. At present, Faraday has planned three models of FF91, FF81 and FF71 in the future, of which the FF91 is the most high-end, with an expected starting price of $100000 and is expected to be launched a year after its launch. Aimed at the upmarket mass market, FF81 is expected to start mass production 18 months after the launch of the FF91, with a target starting price of $59000. The third model, the FF71, which is aimed at the mass market, is expected to be designed and developed in 2022, with a starting price of $45000. Jia Yueting said, "I hope to become the top of the top market and have the confidence to subvert Maybach, Ferrari and Bentley." 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 Faraday's future was founded in 2016, and the first mass-produced electric car, FF 91, was officially launched in Las Vegas in January the following year, after which 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. In 2019, due to the outbreak of Jia Yueting's personal debt crisis, Faraday fell into financial problems in the future. although he led Evergrande to introduce funds in 2018, the two sides broke up in discord because of differences over control issues. the car-building project also continues to stagnate. After entering 2021, the information about the mass production and listing of FF 91 will continue to spread. On June 25th, Faraday Future officially announced that the Securities and Exchange Commission (SEC) had approved the planned joint listing of Faraday Future and Property Solutions Acquisition Corp. (PSAC). On July 22, Faraday was officially listed on the NASDAQ Stock Exchange in the United States. On August 25th, China Business reported that French cars owned by FF are already working in the joint office space in Zhuhai. The head of FF Zhuhai said: FF has sufficient working capital after listing and financing, and the cooperation with local state assets is still going on, and FF will operate in many Chinese cities in the future.

There is no doubt that the listing of FF does bring greater opportunities to Jia Yueting, and the mass production of FF91 and Jia Yueting's debt problems may be solved. At the same time, the listing of FF has also brought greater challenges, the mass production of FF91 needs more funds, and the gap in the subsequent need for funds will continue to be enlarged. In other words, FF needs more capital investment after its listing. At present, with more than 250 million investment from BNP Paribas, it is good news for FF and will also promote the mass production of FF91.

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