Technology peripherals
It Industry
Jia Yueting's FF faces financial difficulties after delivering three cars
Jia Yueting's FF faces financial difficulties after delivering three cars
According to news on September 28, Faraday Weilai recently welcomed its new CEO Matthias Aydt. He announced in a letter to all shareholders that the company has made significant progress in the research and development of the flagship model FF91 over the past year and is now ready to expand production capacity
After nine years of unremitting investment, Faraday Future has invested approximately US$3 billion (approximately RMB 21.9 billion) in research and development. In the third quarter of this year, the company successfully delivered three FF91 2.0 Futurist Alliance vehicles, which marked that the company has entered the revenue stage and formed a complete closed-loop business.
However, although the company is moving towards the milestone since its establishment, A critical stage, but it is also clear that it faces a series of challenges, including financing issues. In order to cope with these challenges, Faraday Weilai has submitted a registration application for the ATM financing plan. It plans to raise the required funds in the market by working with the investment banking team to provide more financial flexibility and diverse options.
Matthias Edet also noted that the company’s valuation could fall significantly, with it currently valued at around 30% of the recently announced net asset value . In order to stabilize its financial position, Faraday Future announced that it has entered into an ATM equity issuance and sales agreement, allowing the company to issue Class A ordinary shares from time to time as needed, with a total value not exceeding US$90 million. These funds will be used for the company's general working capital, as well as product and technology development, global sales and service network construction, production capacity expansion, repayment or repurchase of outstanding debt, capital expenditures, potential joint ventures, acquisitions and other business opportunities, etc. Multiple uses
According to the editor’s understanding, Faraday NIO is actively responding to challenges while continuing to advance its short- and medium-term strategic goals to maintain competitiveness in the electric vehicle market.
The above is the detailed content of Jia Yueting's FF faces financial difficulties after delivering three cars. For more information, please follow other related articles on the PHP Chinese website!
Hot AI Tools
Undresser.AI Undress
AI-powered app for creating realistic nude photos
AI Clothes Remover
Online AI tool for removing clothes from photos.
Undress AI Tool
Undress images for free
Clothoff.io
AI clothes remover
AI Hentai Generator
Generate AI Hentai for free.
Hot Article
Hot Tools
Notepad++7.3.1
Easy-to-use and free code editor
SublimeText3 Chinese version
Chinese version, very easy to use
Zend Studio 13.0.1
Powerful PHP integrated development environment
Dreamweaver CS6
Visual web development tools
SublimeText3 Mac version
God-level code editing software (SublimeText3)
Hot Topics
Nezha Automobile's spring conference opens, Zhou Hongyi comments on new car-making forces and analyzes the reasons for Jia Yueting's failure
Apr 23, 2024 pm 02:04 PM
According to news on April 23, recently, Nezha Automobile grandly launched its first SUV based on the Shanhai platform - Nezha L at the spring new product launch conference. The event attracted much attention, attracting the attention of many industry insiders and consumers. As the first SUV of the Nezha Automobile brand, Nezha L has attracted the attention of many industry insiders and consumers with its outstanding design and advanced technology. At the press conference, Zhou Hongyi, founder of 360 Group, also delivered a wonderful speech. He expressed his appreciation for the rapid development of emerging automakers such as Xiaomi, and especially thanked China for the improvement and comprehensiveness of its supply chain. He pointed out that it is the integrity of China's supply chain that provides strong support for the development of China's new energy vehicle industry. Regarding the development of the new energy automobile industry, Zhou Hongyi said that Jia Yueting
Jia Yueting's FF faces financial difficulties after delivering three cars
Sep 28, 2023 pm 07:57 PM
According to news on September 28, Faraday Weilai recently welcomed its new CEO Matthias Aydt. He announced in a letter to all shareholders that the company has made significant progress in the research and development of the flagship model FF91 over the past year and is now ready to expand production capacity. After nine years of unremitting investment, Faraday Future has invested Approximately US$3 billion (approximately RMB 21.9 billion) will be spent on R&D and development. In the third quarter of this year, the company successfully delivered three FF912.0 Futurist Alliance vehicles, which marked that the company has entered the revenue stage and formed a complete closed-loop operation. However, although the company is moving towards a critical stage since its establishment, it is also clear that Faced with a series of challenges, including financing issues
Jia Yueting 'teared' Ding Lei, Faraday Future announced to sue Gaohe Automobile for 'infringement of trade secrets and unfair competition'
Mar 05, 2024 pm 01:00 PM
According to news from this website on March 5, after the beginning of this year, the competition for new energy vehicles in my country has become more intense, and car companies have entered a brutal elimination round. On the first day of the resumption of work after the end of the year, Gaohe Automobile announced a suspension of production and personnel voluntarily resigned, which was equivalent to an official announcement that it was on the "brink of bankruptcy." Jia Yueting called the failure of Gaohe Automobile a disgrace to the industry in his WeChat Moments article, possibly implying that it copied Faraday Future. According to media reports, the conflict between Jia Yueting and Gaohe Automobile founder Ding Lei has been around for a long time. After Ding Lei left LeTV, he founded Chinese Express and launched the Gaohe Automobile brand. There are rumors that Ding Lei took away the core team and all the design data of FF91 when he left, which resulted in the appearance of Gaohe HiPhiX being very similar to Jia Yueting's FF91. Faraday Future announced today that it will
Jia Yueting sticks to high-end positioning: FF will never launch products below 500,000 yuan
Aug 16, 2023 pm 07:13 PM
FF announced at a grand press conference last weekend that it will officially deliver the first FF912.0 Futurist Alliance model this weekend. This news has attracted widespread attention in the industry. FF founder Jia Yueting emphasized at the press conference that the target audience of the FF brand Mainly for high-end users, the company has decided not to launch products below 500,000 yuan, including the 71 series that may be launched in the future, and its price will not be less than 500,000 yuan. This decision demonstrates the FF brand's firm positioning in the high-end market FF912.0FuturistAlliance,knownasthepinnacleofintelligenttechnology,comesw
Faraday Future loses $125 million in second quarter, but still sticks to profit target by 2025
Aug 23, 2023 pm 10:41 PM
According to news from this website on August 22, Faraday Future stated in its latest quarterly report that its losses have narrowed and that it has entered the revenue generation stage. The company's loss in the second quarter ended June 30 was $124.9 million (Note from this site: currently about 913 million yuan), or 10 cents per share, compared with a loss of $141.7 million in the same period last year, or $10 cents per share. Shares were trading at 44 cents. During the quarter, Faraday Future did not report any revenue. Total operating expenses fell to $49.4 million from $137.5 million, primarily due to reductions in research and development and administrative expenses. Faraday Future said in a letter to investors that the company plans to triple its manufacturing team in the coming months and A second shift was added to support increased production. Faraday Future said:
Jia Yueting firmly stated: FF brand will maintain a bottom line of 500,000 yuan
Aug 21, 2023 pm 06:13 PM
Faraday Future (FF) took a historic step on August 13, 2023 in Los Angeles, officially delivering the FF912.0 Futurist Alliance to the first batch of high-end users, which is known as the "all-round aiHypercar" Super luxury smart electric car. After nine years of hard work, FF has achieved a closed-loop operation and entered a profit stage for the first time, marking the company's entry into a new stage. This FF912.0 Futurist Alliance model, limited to 300 units worldwide, is priced at US$309,000, discounted The contract is RMB 2.256 million. The vehicle configuration is very luxurious and equipped with zero
The first-instance verdict of LeTV is released: 2.04 billion yuan in compensation is required, and Jia Yueting bears joint liability for compensation
Sep 23, 2023 am 11:01 AM
According to news from this site on September 22, according to the Securities Times, we learned from lawyers about the first-instance judgment of LeTV. According to the judgment of the Beijing Financial Court, the defendant LeTV Information Technology (Beijing) Co., Ltd. will file a lawsuit within ten days from the date of the effective date of this judgment. The plaintiff investors paid a total of nearly 2.040 billion yuan in compensation for investment loss, commissions, stamp duties, etc. According to the report, the defendant Jia Yueting is jointly and severally liable with the defendant LeTV for the losses suffered by the plaintiff investors. As for intermediaries, the defendant Ping An Securities and the defendant LeTV are jointly and severally liable for 10% of the losses suffered by the plaintiff investors. According to the Securities Times previously quoted by this site, after the LeTV financial fraud case, the Shenzhen Securities Regulatory Bureau issued a prior notice of administrative regulatory measures to Ping An Securities and planned to order Ping An Securities to make corrections.
Jia Yueting's open letter: Faraday Future's value has been seriously underestimated. He is very worried and takes six major measures to defend the interests of shareholders.
Oct 16, 2023 pm 12:37 PM
According to news from this site on October 16, Faraday Future (FF) Global CEO Matthias Aydt and FF Founder and Chief Product and Ecosystem Officer Jia Yueting issued an open letter stating that the company is taking six measures to protect the interests of shareholders. The open letter stated that FF is working hard to restore market confidence and accelerate the realization of strategic goals, including taking the following actions: 1. FF has formally cooperated with Shareholder Intelligence Services Co., Ltd. to initiate an investigation into potential illegal short selling. 2. The company leaders plan to increase their shareholding, which reflects their confidence in the company's development. 3. The company continues to actively contact potential strategic investors. 4. The company is undergoing organizational upgrading to meet the opportunities and challenges of the company entering a new stage of development. 5. The company is continuing to take steps to reduce operational and
