AutoBeta(AutoBeta.net)10/27 Report--

Jia Yueting, founder of FF, posted on Weibo on Oct. 27 that it has only been 21 months since he last congratulated Tesla on breaking through the market capitalization of 100 billion US dollars, and now Tesla has exceeded 1 trillion US dollars. This is a moment enough to write down the history of new energy vehicles. Tesla has become the fifth largest technology company in the world with a market capitalization of more than a trillion US dollars, and also exceeds the combined market capitalization of 11 traditional car companies, including Toyota, Volkswagen, General Motors and Ford. In addition, it also said that the social value that FF futurists eventually want to create will be constantly recognized by the majority of users and the capital market, and will eventually be reflected in the company's market capitalization. However, FF's share price has nearly halved less than three months after its listing. As of Oct. 27, FF shares fell 5.1% to $8.56, down 41.58% from FF's IPO price of $13.78, halving from a high of $17 a share on the first day of trading.

On October 7th, J Capital Research, an American short seller, released a 28-page short selling report on FF. It said that it did not think FF could sell a car through site visits, analysis of FF's financial data, technical capabilities, R & D investment, and a series of capital operations after listing. As for J Capital Research's short selling report, FF Jia Yueting responded: "Hot stir-fried cold rice, nonsense" and reminded J Capital Research that "this is not the first time I have been hit in the face." People related to FF also said that the report is full of misleading information, lack of logic and no factual basis. FF expressed disappointment and condemnation of the agency's irresponsible actions and reserved the right of legal prosecution for such false allegations.

According to relevant data, FF was founded in 2016, and FF's first mass production electric car, the FF 91, was officially launched in Las Vegas in January 2017. after that, 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. Two months later, Letv left Leeco to run away from the United States in order to help raise money for Faraday's Future (Faraday). He has not returned to the United States. In 2019, Jia Yueting declared personal bankruptcy reorganization, transferred his personal assets to creditors through creditor trust, became a shareholder of FF, and gave up his CEO position and was taken over by Bi Fukang. On July 22, 2021, Faraday Future officially listed on the NASDAQ Stock Exchange in the United States and held a bell-ringing ceremony to begin official public trading under the stock code "FFIE".

Faraday's future listing relieves FF's financial pressure to some extent for FF. Jia Yueting also said after the listing that "the listing of FF is a new starting point, solving the biggest funding problem, and then go all out to achieve 12-month mass production." It is understood that at present, Faraday has planned a total of three models of FF91, FF81 and FF71 in the future, of which FF91 is the most high-end, with an expected starting price of $100000 and is expected to be launched a year later. 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 once said, "I hope to become the top of the top market and have the confidence to subvert Maybach, Ferrari and Bentley." At present, it is unknown whether FF can be recognized by the majority of users and capital market, and whether the market value of FF can be reflected.

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