AutoBeta(AutoBeta.net)09/02 Report--

Recently, there has been a lot of news about Jia Yueting's FF car. On September 1, Faraday officially announced personnel appointments in the future. Matt Tall, the new vice president of manufacturing, will be fully responsible for leading the production of Faraday Future, especially the mass production of FF 91. Liu Yuchao, the new senior vice president of China supply chain, will be in charge of FF China supply chain. As early as Aug. 30, according to Faraday Future's filing with the Securities and Exchange Commission (SEC), BNP Paribas's energy transformation fund invested $40 million (about 250 million yuan) in FF on behalf of BNP Paribas Asset Management.

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. The Futurist Alliance version of FF 91, which is limited to 300 units worldwide, has been sold out, according to Faraday'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.

The market news is good, but its share price has halved. On July 22nd, FF officially landed on Nasdaq and halved its share price to $8.70 in nearly 25 trading days after trading at a high of $17 a share. As of press time, FF was trading at $10.10 per share, with a total market capitalization of $3.276 billion.

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. Jia Yueting said that the listing of FF is a new starting point to solve the company's biggest funding problem, and then will go all out to achieve the goal of mass production and delivery within 12 months. "the goal at this stage is to deliver the car to top users around the world on time and of high quality, so as to subvert traditional super-luxury car brands such as Maybach, Ferrari and Bentley."

On August 24th, FF Faraday Future posted that Dr. Bifukang drove his smart technology luxury electric car FF 91 to complete a long-distance road test of 3653 kilometers across the historic US Highway 66 on August 23 local time, collecting data from real user scenarios, FF Global CEO Bi Fukang said "FF's overall testing and tuning strategy will ensure that it has the best performance, safety and user confidence on the market, as well as the performance of batteries, electric powertrain, chassis, suspension and other vehicle systems in these harsh conditions, while ensuring a smooth, comfortable and interconnected driving experience for drivers and passengers in FF 91." The official account of FF Wechat announced that it plans to significantly expand its workforce in the next 12 months after the completion of the merger, moving towards the goal of delivering FF91 in 2022.

In fact, it is not easy for FF and Jia Yueting to go public from founding FF to listing FF. Before Lafayette's biggest problem in the future is the problem of capital, now the successful listing of financing, for FF can be described as a shot in the arm, the rise and fall of the stock price is relatively not so big an impact on it. Some industry insiders said that the Faraday successful financing in the future, which will bring more abundant financial protection for the brand, so that it can successfully achieve mass production of FF91. In addition, it will also be the economic basis for Faraday's future follow-up operation, research and development.

Welcome to subscribe to the WeChat public account "Automotive Industry Focus" to get the first-hand insider information on the automotive industry and talk about things in the automotive circle. Welcome to break the news! WeChat ID autoWechat