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author: lu shiming

editor｜dafeng

it seems that for jia yueting, attracting investment has become a piece of cake. even though countless people call him "china's no. 1 liar" and even though countless capitals and institutions have seen the lessons of the past, it seems that as long as he wants, it is inexhaustible.

just recently, jia yueting, who had been silent for more than half a year, once again relied on his powerful brainwashing skills to obtain a financing commitment of us$30 million (approximately rmb 210 million) for ff, allowing ff to officially regain listing compliance and its stock price to soar.

standing at the forefront of the trend, jia yueting also issued a call to invite global technical talents to participate in the creation of ff's new sub-brand. the new "blueprint" with "ai" and "ev" as keywords has begun to be drawn, and jia yueting's deception has a new rhetoric.

looking back at jia yueting and ff over the years,it seems that hope and disappointment always coexist. when everyone thinks that nothing can go well, he always makes big news. when someone is full of hope for him, he can expose all kinds of major problems.

this comedy called "suffocating for dreams" is still on, and what will the plot of the next episode be like?

raise financing commitment

public information shows that the wealthy people who were successfully fooled by jia yueting this time came from the middle east, the united states and asia.

according to reports, ff's financing this time includes an initial injection of $7.5 million and an additional $22.5 million (financing), in the form of convertible notes (convertible notes) and warrants (warrants) to purchase additional common shares of the company in the future. the conversion price of the convertible notes is $5.24 per share, and the exercise price of the warrants is $6.29 per share, which can be adjusted according to relevant agreed terms.

among them, master investment group, one of the "leeks", an investment company in ras al khaimah, uae, participated in this financing.

the group's boss, sheikh abdullah al qasimi, said: "i am very happy to participate in this round of financing on behalf of ras al khaimah and the uae. as a strategic partner of ff, i am pleased to help ff expand its business in ras al khaimah and the middle east. i believe this will become an unprecedented growth opportunity for ff, which will not only inject important impetus into ff's strategic development, but also provide strong support in its rapid global expansion."

judging from the endings that left ff investors in tears in the past, it is obvious that the boss of master investment group is "happy" too early. he seems to be still in a highly excited state after being brainwashed by jia yueting, and has no idea about the tragedy that will happen in the future.

of course, from ff's perspective,whenever a thriving leek enters the market, it always causes a burst of excitement.

matthias aydt, ff's global ceo, said excitedly: "i am very encouraged that this new funding will bring more possibilities to ff, including supporting our ongoing ff91 2.0 production and strengthening product and software updates."

30 million us dollars is equivalent to more than 210 million rmb. although this amount is not much in terms of car manufacturing, it is indeed a huge sum for jia yueting. you should know that just half a year ago, ff was sued by the "landlord" for defaulting on rent of hundreds of thousands of yuan, and the landlord also sold ff's production plant and had to rent it.

photo: faraday future us headquarters

more than half a year passed in the blink of an eye. in mid-august, ff finally completed the delivery of the second ff 91 2.0 futurist alliance since the restart of sod2 in the "leased" production factory. this is also the 13th car delivered by ff after more than ten years of establishment and tens of billions of financing.

so the question is, can the $30 million raised this time support ff to build another car?

regaining listing qualifications

on the same day that it announced the financing commitment, ff shared another piece of good news with the general "audience".

ff issued an announcement stating that it had received written notification from nasdaq confirming that the company has re-met the stock price requirements and periodic reporting requirements in the nasdaq listing rules, and that the company now meets all nasdaq standards for continued listing.

according to previous reports, ff received a delisting opinion letter from nasdaq on april 24 this year. because the closing price of ff stock was lower than us$0.1 for ten consecutive trading days, it did not comply with nasdaq's listing regulations and gave the opinion that ff stock should withdraw from the nasdaq capital market.

in this regard, jia yueting frequently stated on social media platforms:he will start commercializing his personal ip to make money from building cars (preparing to sell products and reap profits), and will work with the company's management team to take all feasible measures to strive to keep the company's listing status in compliance with regulations.

as for ff's sluggish performance since its listing, which has brought it close to delisting, jia yueting believes that the direct reason is funding problems, and the fundamental reason is confidence and trust problems. he points the finger at the inaction of professional managers and the special committee, which caused ff to miss its golden development period.

after regaining the compliance qualification for listing, jia yueting released another video to talk about it, saying that the risk of delisting has always been like a sword hanging over our heads. after the new management took office, they have been dealing with historical issues left by the old management, which made it impossible to focus on business and operations. now that the shackles of listing compliance have been removed, it means that ff can finally move forward with all its strength and officially start the battle to realize its dream.

although it has regained its listing qualification,however, shortage of funds remains ff’s “old problem”.

according to its 2024 semi-annual performance report, ff achieved cumulative revenue of us$295,000 in the first half of this year; with a significant reduction in r&d and sales costs, the net loss dropped from us$270 million in the same period last year to us$157 million (approximately rmb 1.1 billion); as of june 30, the company's total book assets were approximately us$458 million, total liabilities were approximately us$309 million, and net assets were approximately us$149 million.

ff 2024 semi-annual performance report

such appalling financial data cannot attract the money of retail investors in the secondary market at all. for ff, if it wants to quickly solve the funding problem, it will ultimately depend on jia yueting's new concepts, new plans, and new ppts.

now, with the momentum of obtaining financing commitments and regaining listing qualifications, jia yueting is up to new tricks.

new sub-brand

on september 4, eastern time, ff's stock price soared, once rising by more than 80%. as of the close, ff's stock price rose 52.77% to us$5.24, with a total market value of us$64.87 million.

according to the news, jia yueting launched a global technical talent recruitment campaign on social media, and he sincerely invited technical talents from all over the world to participate in the creation of faraday future's new sub-brand.

jia yueting said that ff's global automotive industry bridge strategy and second brand plan will help the company use artificial intelligence and software technology to provide services to users in multiple market areas, and is expected to accelerate its entry into the mass market while continuing to maintain its ultra-luxury product positioning.

regarding the market positioning of the two brands, jia yueting explained that the ff brand focuses on the top of the tower market, and its most distinctive feature is that it is impossible to sell in large quantities. the second brand focuses on the base and middle of the tower market, pursuing scale.

source: jia yueting's sina weibo

according to the plan, ff will hold the "ff china-us automotive industry bridge strategy and second brand launch conference" on september 19, and will focus on creating mass products in the price range of us$20,000 to us$80,000 in the future.

according to jia yueting, ff's second brand focuses on ai and ev, and focuses on "extreme cost-effectiveness" to create ai and ev products with "twice the performance and half the price". however, the planning and layout of the new brand and new car are mainly aimed at the us market. they plan to conduct a large number of user surveys to allow consumers to participate in the co-creation process of the new brand and new car, and create a model that is more suitable for the local mass consumer group.

in fact, what jia yueting calls ai and ev, in layman's terms, is "smart electric cars," which are marketing themes that have been played out by domestic new forces.things like smart driving, smart cockpit, and ai big models are no longer new.

in addition to the backward concept, it is nonsense to create low-priced mass-produced products. mass-produced products are also very dependent on a systematic industrial ecosystem. how can ff, which has built 13 cars in more than ten years, mass-produce them?

in response, jia yueting called it the "china-us automotive bridge strategy". in short, it is to promote his second brand by cooperating with chinese oems and parts suppliers and leveraging the advantages of china's new energy industry chain. but with the title of "china's no. 1 liar", which supplier will cooperate with ff? which car company dares to cooperate with jia yueting?

it can be concluded that this is another plot of "the thunder is louder than the raindrops", or even no "raindrops", and boss jia's return to china is still a long way off.