AutoBeta(AutoBeta.net)03/02 Report--

After leaving Evergrande Xu Jiayin, falling into the predicament of the capital chain and the slow progress of the factory, Jia Yueting seldom has other latest topics in front of us, but recently, foreign media have once again revealed that FF (Faraday Future Electric car Company) controlled by Jia Yueting is facing litigation claims.

According to foreign media sources, suppliers and contractors have filed 11 new lawsuits against FF, requiring it to pay nearly $80 million (about 536 million yuan) in arrears, compensation and other related costs, accusing FF of breach of contract.

FF, which has always been short of money, has also been asked to fulfill the contract claims by suppliers many times earlier, and it was not until Evergrande's capital injection that it slowly improved, and the mass production plan of FF 91 was also put on the agenda. But in the end, the cooperation between the two sides did not bear fruit, and FF and Evergrande were officially split at the end of last year. Jia Yueting still sticks to his FF road, while Xu Jiayin continues to build his car by acquiring other electric car companies.

As for domestic property, Guangzhou Nansha Land is acquired by Evergrande, while other Chinese assets, such as Mogan Mountain project, technology, patents, original team, management rights, and related interests, are still vested in FF and Jia Yueting. Jia Yueting can buy back Evergrande's stake in 32%FF within five years, meaning the money injected by Evergrande can be repaid within five years.

The problem is, Jia Yueting is short of money!

Jia Yueting said before the Spring Festival: "as the first achievement of FF innovation, FF 91 is only a foot in the door before mass production, and it is time to be ready to be tested by the market and users." But discerning people all know that FF still has a long way to go to achieve mass production. At present, FF is still in the pre-production stage, and many projects are shelved or delayed by funds.

In February, FF executives also revealed to the media that there are now more than 400 people at FF headquarters in North America, more than 10 employees at the Hanford plant and more than 20 employees in Silicon Valley. FF employs about 1000 people worldwide. Mass production of FF 91 cannot be achieved at present, and we still have to wait for capital injection, but the pre-production car will continue to go offline. Because FF has bought a lot of parts before, which can be used in production. With regard to Letv's debt, people familiar with the matter said Jia Yueting has been trying to repay it. If he sells FF, he can actually live a good life, but Jia Yueting is not willing to give up the car project.

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