AutoBeta(AutoBeta.net)10/23 Report--

Jia Yueting, founder of Faraday Future (hereinafter referred to as "FF"), said on Weibo on October 23: "I will never lie flat, throw in the towel, let alone disappear. I also hope to encourage more entrepreneurs, as long as they don't give up, they won't lose."

In response to the problem that many people in the outside world think Jia Yueting is a liar, Jia Yueting himself said in an interview video: "if he is a liar, who has ever seen such a stubborn liar? if he really got the money, maybe the person would have disappeared a long time ago. Not only did I not lie flat, I didn't throw in the towel, and I didn't disappear. In fact, the state of my life is open to the public, every day, you can see about a state of my life. If you are a liar, you always have to cheat something. not only did I not get any money, but I became the person with the highest debt in the world because of guarantee, which may not be one of them, so this is completely illogical. The key is that no one thinks rationally. " In addition, Jia Yueting also explained that the definition of "failed entrepreneurs are liars" is disadvantageous to the whole development.

At present, Jia Yueting's Weibo account has 15.156 million followers, the account authentication information is displayed as "founder, partner, chief product and user ecological officer of France, founder of LeEco Letv," and IP dependency is displayed as the United States.

As we all know, the electric car company Faraday Future was founded by Jia Yueting. Jia Yueting founded FF in 2014 and completed a $1 billion round of financing the following year. After that, Jia Yueting left the United States because of Letv's financial crisis, and eventually FF funding was in crisis, and the car-building project came to a standstill. It was not until January 2017 that FF released its first flagship model, the FF91, and the production of its first production car, the FF91 Futurist, was completed in April 2023. What is even more surprising is that there is no market after the launch of the new car. So far, only 13 new cars have been delivered, of which 10 have been delivered in 2023, while the 13th new car was delivered on August 13 this year. In other words, FF has delivered only three new cars this year.

Now it has been 10 years since FF built the car, and FF has not been able to mass production, but also can not escape the fate of lack of money. A huge amount of money has been spent on building cars in the past 10 years. According to the latest news, Jia Yueting's current debt in China is about 2 billion US dollars (about 14.259 billion yuan). Jia Yueting pointed out that the biggest mission and task now is to quickly and truly complete the FF, and then pay off the debt as soon as possible and return home as soon as possible. It should be noted that with the strengthening of the transformation from traditional car enterprises to new energy vehicles and the accelerated rise of more new power car enterprises, the competition in the car market is also more intense. At present, FF mass production is still in a difficult mode, and it is difficult to open the market. In addition, from the positioning and price of FF91, FF91 positioning luxury car, the price of up to 2 million yuan is not suitable for the mass consumer market, and it is difficult for consumers to pay for it.

On Sept. 20, FF unveiled its second brand, named "Faraday X" (hereinafter referred to as "FX"), which aims to build a popular smart electric vehicle (AI EV). FX will be the first to launch two new cars with a price range of $20, 000 to $50, 000. On October 12, Jia Yueting posted on Weibo, "grow up!" Striver Company was established: paying off debts and returning to the country is something I must accomplish. Jia Yueting said that this is his second business after FF in the United States, and he is personally growing up. Striver, nearly 60%, or 10%, of the company's 17% stake, is given to FF. In addition, half of the income earned by the new company, including labor services, IP-related income and equity income, is injected into FF and the other half is used to continue to pay off domestic debt.

Jia Yueting said: "the commercialization of IP may not be enough to pay off my debts quickly, so I still have to go all out to make FF and the second brand FX to pay off my debts more quickly and thoroughly." he stressed: "paying off the debt and returning to the country is something I must do." As for when Jia Yueting will be able to pay off his debts and return home, Jia Yueting said in a recent interview: "I think it can be limited to two years."

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