TU-TESL

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With the departure and personal bankruptcy reorganization, Faraday's future (FF), which seems to enter a new stage, has become active. On November 20, on the eve of the opening of the 2019 Los Angeles International Auto Show, FF's Global CEO appeared with the first mass-produced model ff91. When talking about the company's financing situation and FF founder Jia Yueting at the future travel forum of the auto show, he said that there are two misunderstandings about FF, one is FF's execution and product delivery capacity, the other is about Jia Yueting. He stressed that the former karma automobile and Guanzhi automobile ctoobkruse who joined recently and benedikthartmann, vice president of global supply chain of BMW Brilliance who will join in early January next year, will greatly enhance FF's ability in product research and development, supply chain, etc. However, the outside world misunderstood Jia Yueting, "it is unfair to link his personal debt problem with FF." Shortly after taking over FF, on November 14, Bifukang adjusted its senior management. In addition to the new CFO already on its way, Bifukang also revealed FF's plans to speed up the next phase of financing. For FF who has been "born" for 5 years, mass production and financing are imminent. As early as August 2018, the first pre mass production vehicle of ff91 has been offline, but due to the dispute between capital and its control right, the mass production of FF's first model has always been delayed. In addition, from the perspective of the market, even if the mass production is successful, it is still unknown whether users can pay for ff91, which is positioned at the level of one million. According to the latest plan announced by FF, ff91 will start to be delivered within about 9 months after the successful completion of equity financing; the newly announced ff81 electric vehicle and future model, as well as the preparation for the development of the next generation core technology, will also be completed as soon as possible; and the target IPO will be conducted within 12 to 15 months after the completion of equity financing.