AutoBeta(AutoBeta.net)04/16 Report--

On April 15th, Faraday Future announced the completion of its first production car, the FF 91 Futurist, and the launch of the FF ieFactory production line in Hanford, California.

Six years have passed since Faraday's first model was unveiled, and we don't know how many times we've heard mass production news of the first model from Faraday Future and Jia Yueting, but it always ends with ticket skipping, but this time it seems to have come true. Jia Yueting also retweeted the message on the social media platform and said: nine years unyielding, finally ushered in FF91's first production car off the line. This takes us further from the dream of "the pioneer of the super-spire market of extremely intelligent technology and the subverter of the traditional super-luxury car civilization in the era of smart trams".

Nine years later, Faraday's future is finally in mass production. On the other side of the Atlantic, FF unveiled its first flagship model, the FF 91, which is called "the world's first Internet eco-electric vehicle". After that, the company announced the completion of a round of financing of $1 billion, with Leeco founder Jia Yueting serving as global CEO and chief product officer. Over the next few years, FF has held countless quasi-production conferences, but in the end, all of them were "just one foot in the door".

Since Jia Yueting abandoned Letv and went to the United States to pursue the car dream, it seems that the word "lack of money" has closely followed Jia Yueting, and in order to solve the financial problem, Jia Yueting also found Xu Jiayin of Evergrande, and even in order to solve the debt crisis, he finally sold all his equity to all creditors in the form of personal bankruptcy, but in fact, the outside world is not optimistic about whether the car can be built or not.

Some netizens said that Jia Yueting did not sell cars, but dreams, otherwise how could the outside world have been waiting for FF 91 for six years. Some netizens said that FF has been "drawing cakes", but investors are always willing to "eat cakes". Facts have proved that although the outside world is not optimistic about Jia Yueting's car, the car built by Jia Yueting is still quite expected.

Although it has been six years since the first release of FF 91, its product power has not stayed in the past. Earlier, FF announced that, through the PT Gen 2.0 project, Faraday is completing the final testing and verification of the FF 91 Futurist in the future, including 13 key upgrades such as powertrain, battery, charging, chassis, interior, and 13 key upgrades from computing, sensing, communications, and user interaction to the latest I.A.I technology. To put it simply, today's FF 91 is not the model it was six years ago, but a whole new generation of FF 91.

Mass production is so difficult, and delivery is even more difficult. A few days ago, Faraday postponed the first delivery of FF 91 Futurist again in the future, and the company expects the first phase of the delivery process to begin at the end of May, compared with April.

According to the plan, delivery of FF 91 is divided into three phases. The first phase is only for "industry expert FPO" (Future Product Officer futurist product officer). Industry expert FPO needs to pay FF 91 in full in order to book the vehicle and receive vehicle use training to obtain the vehicle in the second stage. In other words, FF's definition of "first-phase delivery" does not actually produce a real barter, but a small-scale booking.

The second phase is "Futurist Product Officer (FPO) Co-Creative delivery", which will be paid in full by FPO (s) and will be officially acquired by FF 91 FF. FF expects the second phase to begin at the end of the second quarter of 2023, but emphasizes that the second phase of delivery needs to meet one major condition.

The third stage is the "comprehensive co-creation of delivery". FF 91 officially enters our conventional understanding of delivery. FF will deliver FF 91 to all "high-end users" who pay the full fee, but FF emphasizes that the third stage also needs to meet an important condition.

So what are the important conditions that need to be met in the second and third stages? Money, of course. FF said it expected to need a lot of additional financing to begin the second and third phases of delivery and was in discussions with other potential investors. Data show that as of April 11, 2023, FF had cash reserves of approximately $29.8 million, including $1.5 million in restricted cash.

Therefore, mass production does not mean to rest easy, perhaps the beginning of a nightmare. In fact, for the outside world, FF can not care about mass production delivery, because whenever approaching mass production, always due to uncontrollable factors and delay production, the outside world seems to be accustomed to. Looking back over the past few years, FF has always been able to make waves in the capital markets by relying on quasi-production.

Does anyone support Jia Yueting and pay for FF 91?. The question is, how many people will there be? Faraday's future is a new energy brand with no product experience, no brand accumulation, and may even be on the verge of bankruptcy at any time, even if it grabs orders from ultra-luxury brands such as Ferrari, Maybach, Rolls-Royce and other ultra-luxury brands, it is simply not enough to support the future development of Faraday, and it is almost impossible to break even.

At present, the automobile market has already undergone earth-shaking changes. From the time of development, FF and Wei Xiaoli were basically born at the same time, when BYD was only a third-tier car company with monthly sales of 30, 000. Today, BYD has surpassed Tesla in annual sales to become the top seller of new energy vehicles in the world, and launched millions of electric vehicle brands, while Ulai and ideal are beginning to seize the market of traditional luxury brands. Of course, FF's opponent is not Wei Xiaoli, Tesla, let alone BYD, but ultra-luxury brands such as Ferrari, Maybach and Rolls-Royce, but how should FF 91 snatch food from the tiger, especially the invisible cracks in its corporate image.

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