The luxury car FF91, which is worth nearly 3 million yuan, is sold out, claiming to look down on Tesla, can Jia Yueting really turn it over?

From “returning home next week” to filing for bankruptcy, Jia Yueting’s personal credit fell to the bottom, and FF 91 became his desperate last hope.

From “returning home next week” to filing for bankruptcy, Jia Yueting’s personal credit fell to the bottom, and FF 91 became his desperate last hope. Today, despite the successful listing of FF, whether this electric vehicle start-up company, which has been controversial since its inception, can win the market and gain the favor of investors is still the sword of Damocles hanging in everyone’s mind.

The luxury car FF91, which is worth nearly 3 million yuan, is sold out, claiming to look down on Tesla, can Jia Yueting really turn it over?

Unexpectedly, FF 91 is really coming!

On the evening of July 22, Faraday Future (FF) founded by Jia Yueting was officially listed on the Nasdaq in the United States. On July 23, Jia Yueting rarely promoted FF 91 on Weibo and said: “FF 91 is currently the only smart tram in the world that is one grade higher than Tesla Model X and S Plaid in terms of product and technology positioning. Product strength. FF 91 is not only a high-performance EV, but also an all-round car, super car robot, and the third Internet living space.”

The luxury car FF91, which is worth nearly 3 million yuan, is sold out, claiming to look down on Tesla, can Jia Yueting really turn it over?

According to the latest news from the Financial Associated Press, starting from the announcement of the reservation policy on July 22, the FF 91 Futurist Alliance Edition, which is limited to 300 units worldwide, has been sold out on the morning of July 25, with a priority booking amount of 50,000 yuan. In this regard, the relevant person in charge of FF said “no comment.”

It is rumored that the model is priced at 280,000 US dollars in the United States and about 2.8 million yuan in China. The priority booking amount is 50,000 yuan, and only selected invited users will be eligible for reservation. The first batch of invited car owners will receive three user privileges: Futurist Alliance members, spire club members, and exclusive privileges for the next-generation product upgrade plan. In addition, FF also launched the FF 91 futurist version with a priority booking amount of 20,000 RMB.

Previously, Faraday future global CEO Bi Fukang has said, FF 91 futurist Alliance version is expected to be delivered within 12 months.

Zero-gravity seat + intelligent rear Internet system =?

On July 25th, Jia Yueting shared an article titled “Famous Car Engineering Expert Sandy Munro: FF 91 Zero Gravity Feeling Unprecedented!” in his WeChat Moments. 》Video link with text: Zero-gravity seat + intelligent rear Internet system =? It can be seen from Jia Yueting that the two are the core black technologies of FF 91. So, how strong are these two technologies?

The luxury car FF91, which is worth nearly 3 million yuan, is sold out, claiming to look down on Tesla, can Jia Yueting really turn it over?

Since its release at CES in January 2017, FF 91 has become a “new species” in the industry with its sci-fi avant-garde design and performance bursting power. In 2019, Faraday Future officially introduced the way FF ​​will transform the future of travel at the Los Angeles Auto Show Future Travel Forum. At the same time, it officially released the concept of the third Internet living space and the vehicle interior drawing of its first production car FF 91.

According to reports, FF 91 is equipped with high-definition central control touch screen, smart privacy glass, modular intelligent visual voice interaction system and many other cutting-edge technologies. In addition, the “zero-gravity seat” inspired by NASA’s research has become a highlight.

The zero-gravity seat of FF 91 made its first appearance at CES 2017, creating a relaxed feeling of weightlessness for the audience. Compared with the passenger’s S-shaped bending of the spine of an ordinary seat, which causes excessive load-bearing on the hips and thighs, the zero-gravity seat fits the physiological curve of the human body more, so as to share the pressure and reduce the fatigue. Not only that, the zero-gravity seat can also provide functions such as ventilation, massage, and even tilt the seat back by 150 degrees to achieve a design similar to the first-class cabin of an airplane, bringing a better passenger experience. Since then, smart electric vehicles including Jihu have learned from the zero-gravity seat of FF 91 to create inspiration.

The luxury car FF91, which is worth nearly 3 million yuan, is sold out, claiming to look down on Tesla, can Jia Yueting really turn it over?

In terms of intelligent rear Internet systems, Faraday Future believes that voice control and experience based on enhanced artificial intelligence will lead the future of Internet of Vehicles interaction. Therefore, Faraday Future has deeply integrated the voice assistant “FF AI” into the on-board operating system, enabling it to continuously work in the mode of as many user touch points as possible. At present, the rear passengers of the FF 91 can use simple voice commands to control the lifting of the 27-inch rear passenger display (RSD) in the car.

FF 91 is also equipped with a camera that supports video conferencing in the car. When the rear passenger display is turned on, users can use the online meeting application to enter the personal address book and conduct video conferences with friends, family or business partners during the journey to maintain communication. The application can not only run on the FF 91 on-board computer, but can also be mirrored to the user’s mobile device to meet the user’s remote control needs.

The luxury car FF91, which is worth nearly 3 million yuan, is sold out, claiming to look down on Tesla, can Jia Yueting really turn it over?

Of course, the original design concept of the FF 91 rear passenger experience is not only to simply meet users’ point-to-point travel needs, but also to connect users’ home scenes and office scenes, and establish a third Internet living space.

In fact, according to the latest roadshow data, FF 91 currently holds 880 patents, and is mainly focused on powertrain, battery management system, UI human-computer interaction and ADAS automatic driving assistance system. It is with such strong technical support that even if the price is nearly 3 million yuan, the FF 91 Futurist Alliance Edition is still quickly sold out.

Can FF 91 help Jia Yueting make a comeback?

On July 2 last year, Jia Yueting published an apology article “Working and Entrepreneurship, Restarting Life, with My Apologies, Thanksgiving and Commitment” on his personal public account. In the letter, Jia Yueting said: He is the first person responsible for the overnight collapse of the LeTV system. He must give everyone an explanation and will never be a deserter. In addition, Jia Yueting said that no more than 10% has been set aside in the creditor’s trust, which is mainly used for contingent compensation for LeTV stockholders, which can be implemented after completing the relevant legal procedures.

It is especially worth noting that Jia Yueting pointed out at the end of the article: “It gives me a chance to restart my life and fulfill my promises, and it also allows me to’set foot’ on the way home.”

Today, Ladi Future is officially listed on the Nasdaq in the United States. Jia Yueting was in a happy mood at the U.S. stock market listing, but he did not go to the stage to ring the bell. Outside the Nasdaq exchange, the media asked him if he had plans to return to China, and Jia Yueting replied, “That is necessary.”

The luxury car FF91, which is worth nearly 3 million yuan, is sold out, claiming to look down on Tesla, can Jia Yueting really turn it over?

In 2014, Jia Yueting founded FF in California, USA, and once became the most watched electric vehicle startup following Tesla. In the following years, FF attracted a lot of attention and shined at the CES show in early 2017. However, unfortunately, the domestic LeTV system collapsed in the same year. Jia Yueting fled the United States under the name of a “meeting” and began to fully dominate FF operations as the CEO. At the end of 2017, FF had burned out Jia Yueting’s US$900 million in capital injection, and the company was in trouble.

After that, Jia Yueting successfully asked Sun Hongbin to help him pay for his dream with 15 billion yuan. He turned around and took a huge sum of money to pay off his debt. Since then, he successfully “hooked up” Hengda Xu Jiayin, and staged a wonderful past of love and hatred.

In September 2019, due to Jia Yueting’s personal credit bankruptcy and the delay in financing, FF announced the appointment of the former BMW i8 project leader Bi Fukang as the new CEO, completely replacing Jia Yueting (Jia hung a false name as the chief product and user officer), and then Jia Yueting Filed for bankruptcy and reorganization.

In July 2020, Jia Yueting announced the completion of bankruptcy and reorganization. In order to repay approximately US$3.6 billion in debt, the court established a creditor trust (including holding FF equity) with the assets under Jia Yueting’s name. Creditors have the ownership of trust assets and the right to income. After the reorganization is completed, Jia Yueting no longer holds any FF equity. At the same time, FF carried out the reform of the partner system, and the company’s decision-making power was transferred from Jia Yueting to the partner committee.

The luxury car FF91, which is worth nearly 3 million yuan, is sold out, claiming to look down on Tesla, can Jia Yueting really turn it over?

It is understood that Jia Yueting’s personal creditor trust still owns 16% of FF. Although there is no accurate data on the total Jia Yueting debt, but according to US analysts estimated 5 billion of yuan terms , when a market capitalization of about $ 30 billion after the listing FF, Jia Yueting to pay off debt above creditors.

Can FF 91 be mass-produced as scheduled?

Jia Yueting stated that it is necessary to deliver its FF 91 Faraday Future to global spire users on time, with high quality, and high product strength within 12 months after its launch, and to realize the benefits of traditional ultra-luxury car brands such as Maybach, Ferrari, and Bentley. subversion. However, Jia Yueting, whose credit goes bankrupt, is obviously hard to convince the public.

It is understood that this FF listing will raise 1 billion US dollars, mainly for the delivery of FF 91 mass production. However, judging from the current situation, these funds may be difficult to support FF to accomplish this goal. From the perspective of financial status, as of March 31, 2021, the available cash on FF’s book is only 47.525 million US dollars. Although the US$1 billion after the listing has arrived, whether it is to make up for the previous operating losses, or to deploy the distribution system, purchase parts, and conduct FF 91 testing, it shows that there are places where money needs to be spent, which also means 10 Millions of dollars may be just a drop in the bucket.

From the perspective of employee composition, FF currently has 288 people worldwide, most of whom are engaged in research and development, manufacturing, and supply chain work. This number is only one- fourteenth of its 4,181 employees at the end of 2020 compared to an ideal car with only one model product . This may be difficult to support the landing of the model.

At the end of last year, FF Hong Kong established a company called “Farfa Automobile (Zhuhai) Co., Ltd.” in Zhuhai, Guangdong. This is also another company in China besides Fafa Automobile (Beijing). In March of this year, FF announced the appointment of Mr. Chen Xuefeng as the CEO of FF China. Chen Xuefeng has worked in Zongshen Automobile, Changan Ford Mazda , Ford , Chery Jaguar Land Rover . After joining, he will help FF91 mass production as soon as possible and promote the full implementation of FF’s Sino-US dual home strategy.

In addition, FF has recruited many executives from companies such as Huawei and Maserati , including Gao Mengxiong, who is the CMO of FF China, and Ye Qing, who is responsible for FF China’s regional business development.

Not only that, FF also announced in January this year with Geely that the two parties plan to cooperate in technology and factories, and explore the possibility of a joint venture between Geely and Foxconn to provide foundry services for FF.

It can be seen that FF has high hopes for China, whether it is for the future market landing or mass production needs. It’s no wonder that FF CEO Bi Fukang said at the FF investor briefing meeting that he was certain of the layout of the Chinese market: “We hope to sign a framework agreement with the Chinese local government to achieve true cooperation and technical and engineering support.”

Write at the end

From “returning home next week” to filing for bankruptcy, Jia Yueting’s personal credit fell to the bottom, and FF 91 became his desperate last hope. Today, despite the successful listing of FF, whether this electric vehicle start-up company, which has been controversial since its inception, can win the market and gain the favor of investors is still the sword of Damocles hanging in everyone’s mind.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/the-luxury-car-ff91-which-is-worth-nearly-3-million-yuan-is-sold-out-claiming-to-look-down-on-tesla-can-jia-yueting-really-turn-it-over/
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