AutoBeta(AutoBeta.net)03/14 Report--

On the 14th, Faraday Future (FF), which is in deep financial difficulties, has no latest financing situation, but FF has sought to save itself in a variety of situations, including the sale of land. According to the official announcement of FF, the decision to sell 900 acres (about 5463 acres) of land in North Las Vegas, Nevada, for $40 million (about 268 million yuan).

FF officials said it was a "difficult decision" and that FF was adjusting its global layout while focusing on its strategy.

In 2015, FF bought land at the Apex Industrial Park in northern Las Vegas, where FF's production plan was to be completed, but the outbreak of funding chain problems led to the transfer of FF. FF subsequently decided to relocate the production site of FF 91 to its plant in Hanford, California, and began retrofitting the Hanford plant at the end of 2017.

Due to disputes with investors in Evergrande, funding problems broke out again, and the production plan of the Hanford plant was slow. Until the separation of FF and Evergrande, FF's funding has not been resolved.

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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