Science Technology

Jia Yueting, return to FF power center

With mass production coming soon, Jia Yueting has once again achieved “turning the table against the wind”.
On March 2, Faraday Future announced that the board of directors had approved Jia Yueting to report directly to the board of directors together with the company’s global CEO Chen Xuefeng. It is also determined that Jia Yueting is the “executive officer” of the company referred to in Article 16 of the Securities Exchange Act of 1934 (Revised) and the “executive officer” of the company referred to in Article 3b-7 of the Exchange Act.
This means that Jia Yueting has restored his status as “executive officer” and returned to the center of Faraday’s future power after more than a year. For Jia Yueting, this is a turning point of fate, and also a turning point of future re-emergence.
According to the data, at present, Jia Yueting’s internal position has not changed, but his control over the future of Faraday is increasing.
According to the decision of the Board of Directors, the company’s products, mobile ecosystem, I.A.I and advanced R&D technology departments directly reported to Jia Yueting. From this decision, Jia Yueting returned to the center of Faraday’s future power.
Not only that, Faraday’s future user ecosystem, capital market, human resources and administration, corporate strategy department and all departments of FF China report to Jia Yueting and global CEO Chen Xuefeng, while other departments, including finance and legal affairs, continue to report to Chen Xuefeng.
In fact, it is not difficult to see that Jia Yueting has actually “crushed” Chen Xuefeng.
It is not difficult to infer from all the signs that there is a small possibility of mistakes in FF91’s mass production, and Faraday cannot afford to delay in the future. From a global perspective, the entire new energy vehicle industry has begun to undergo a major reshuffle this year, and the auto companies that have already mass production have been very difficult under Tesla’s price reduction strategy, while the auto companies that have not mass production are in a more dangerous situation.
Therefore, if mass production cannot be achieved this year, it will become unbearable for Faraday in the future, and the future financing expectation will be further compressed. At that time, what is waiting for Jia Yueting is a complete failure.
It is obvious that after years of efforts and constant internal fighting in the future of Faraday, Jia Yueting can finally go into battle lightly after a round of “baptism”. For Jia Yueting himself, the future of Faraday is more “light” and better controlled, so it is absolutely divine to return to the center of Faraday’s future power at this time.
At present, all the problems are focused on the mass production of FF91. Before this mass production, Faraday has also determined domestic cooperation in the future, which paves the way for the future sales of Faraday after mass production.
It is well known that the price of luxury brands such as Ferrari, Maybach, Rolls-Royce and Bentley may be much higher than that of the previous two million. Therefore, reducing production costs by localization has become the core of Faraday’s future.
As a luxury electric car brand, it is almost a must to go from the high-end to the mid-end, because in the price range, there is no substitute for expanding the user scale at low prices, which is crucial for the future brand building and valuation remodeling of Faraday.
On March 1, Faraday announced that the future shareholders of Faraday approved the proposal to increase the authorized number of Class A ordinary shares of FFIE to 1.69 billion shares, as well as the proposal to allow the issuance of shares according to the equity credit line between the company and an affiliated company of Yorkville Advisors, which could issue more than 19.99% of the company’s Class A and Class B ordinary shares. This means that the funds available for mass production in the future of Faraday have been solved. In the future, if we want to continue to obtain the recognition of the capital market, we need to obtain the market recognition of our products.
To sum up, the mass production of FF91 is ready for everything, but it is only a disadvantage. Jia Yueting has returned to the peak of Faraday’s future power, leaving the window for FF91’s mass production only more than one month. At that time, if FF91 fails to meet the market expectations or the time for mass production continues to delay, Faraday will be completely defeated in the future.
Jia Yueting and FF91 have let the market down too many times. Whether they can regain market confidence will have a clear answer in the next month or more.