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Jia Yueting's Faraday Future (Faraday Future) has been shelved because of a lack of funds and is trying to seek financing from new investors. FF, which has not had news for a long time, officially released a news today that FF 91 was unveiled at the Car and Coffee luxury car show, alongside Ferrari, Lamborghini and other sports cars.

On April 30th of this year, FF announced that it had received $225 million in debt and trust financing led by Birch Lake, an American commercial bank. Houlihan Lokey, an independent valuation consultant, valued FF at $1.25 billion, which laid the foundation for FF to complete equity financing. A month later, officials said FF 91 had completed long-distance testing and was getting closer to mass delivery. Not long ago, Hazza Alkaabi, Consul General of the United Arab Emirates, and his party visited FF's headquarters in the United States and hinted that FF would receive a new round of financing.

In early July, Jia Yueting forwarded on Weibo a video of a foreign car program visiting the Faraday Future factory, some of which showed that several trial-production cars were still under development in the factory. Some netizens said that the factory looks so shabby.

From the release of FF 91 in early 2017 to the secret investment of Evergrande Xu Jiayin at the end of 2017, Jia Yueting seemed to be out of a shortage of funds, and it was not until June 2018 that the two sides officially announced a cooperation, and Evergrande became the largest shareholder of FF. However, with the outbreak of conflicts between the two sides, the struggle for capital and control, from the initial pleasant cooperation to the arbitration tribunal, and finally in 2019, the two sides officially announced the end of all cooperation.

After jumping tickets for a year and a half, FF 91 has never been able to complete mass production delivery. except for the cooperation with Evergrande to the end, there have been persistent rumors of production suspension, default, layoffs and the sale of factory headquarters during the FF period. Jia Yueting has been working hard for FF financing.

The planned mass production goal of FF 91 is a mystery, but in China, Jia Yueting has won a new partner.

On March 25 this year, FF announced a strategic partnership with Ninth City, which will set up a joint venture to manufacture, market and operate electric vehicles in China, of which Ninth City will inject up to US $600 million (about 4 billion yuan), accounting for 50% of the joint venture company. The joint venture will produce and sell the new electric vehicle brand V9 in China, tailor-made for the Chinese consumer market. According to the plan, V9 will be off the production line and scheduled for sale by 2020.

On June 10, the ninth city announced that the joint venture company with FF landed in Shaerqin Industrial Zone, Hohhot Economic and technological Development Zone, and obtained no less than 5000 mu of land. Among them, Nine cities and its subordinate enterprises contributed not less than 500 million yuan, the government contributed not less than 1.5 billion yuan, Hohhot Shaerqin Industrial Zone coordinated financing loans for new energy projects of 4 billion yuan.

Jia Yueting can't wait to announce the styling design of the V9 model on Weibo. Jia Yueting said that the basic design concept of the V9 is "a luxury mobile smart space that integrates design, artificial intelligence and seamless interconnection between people and cars".

This is a model developed for Chinese consumers and it can be seen that it is still in the PPT stage.

Since the loss of the financier of Evergrande, FF continues to suffer from a shortage of funds, what should be reduced, what should be sold, and how far the so-called "upcoming mass production of FF 91" by Jia Yueting is still a mystery. What is certain, however, is that Jia Yueting, known as the "Lao Lai", has suffered a steady decline in credibility.

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