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In 2017, Evergrande officially released a photo: Xu Jiayin suddenly appeared at the Faraday headquarters in Los Angeles, USA. The host Jia Yueting accompanied the visit. In the photo, the two people were smiling brightly, but they had their own agendas.
At that time, Xu Jiayin was still the richest man in the country and could easily mobilize hundreds of billions of funds; Jia Yueting was deeply involved in the vortex of false accounts, LeTV was hopeless, Faraday became the only life-saving straw.
The situation between the two of them is that one is in the sky and the other is underground. Xu Jiayin's intention to come to the United States is obvious. He directly proposed to acquire the entire Faraday and merge it into the Evergrande Empire.
Jia Yueting, who was in urgent need of money, used a delaying tactic. While he promised to give up his position as the major shareholder, he asked Xu Jiayin to pay a "deposit" as soon as possible.
With a stroke of his pen, Xu Jiayin gave Jia Yueting 800 million US dollars to buy a seat on Faraday's board of directors.
Facing reporters, Xu Jiayin supported Jia Yueting and said: "Seeing is believing! Faraday has very good technology, and it is absolutely right for us to invest in Faraday!"
The words "seeing is believing" and "absolutely correct" moved Jia Yueting to tears - —Boss Xu is so sincere! There will be days that make you cry.
With US$800 million, Jia Yueting held a partner conference in the United States and paid off the suppliers' debts on the spot. The suppliers praised Jia Yueting as a trustworthy partner. The remaining money from
was invested in building a factory, purchasing a production line for assembling electric vehicles, and built the first FF91 prototype the next year!
Xu Jiayin was full of praise for the prototype car. According to his agreement with Jia Yueting, Evergrande will pay another US$700 million for mass production after the prototype car leaves the factory. Just when Evergrande was about to send money, Jia Yueting, who had taken a breath, suddenly turned his back and refused to give up control of Faraday.
Xu Jiayin was confused. He didn't expect that there were companies in the world that would give money without asking. Jia Yueting smiled and said: You have to give me the money and continue to ask for it, but Evergrande cannot be a major shareholder, and Faraday still has to listen to me.
Xu Jiayin settled the accounts. Isn’t this nonsense? Is there any company that doesn’t have a majority shareholder? Jia Yueting shook his head and said: "The United States has it."
Xu Jiayin felt that he had been fooled. He gave Jia Yueting money to save his life when he was in the most difficult time. Now that he was relieved, Jia Yueting turned his back and refused to recognize others. There is no moral justice in the world. Even if we don’t talk about it, no wonder LeTV will go bankrupt.
In anger, Xu Jiayin announced that he would not give the remaining US$700 million! Evergrande wanted to build its own car, a car completely surnamed "Xu", and Hengchi was born. Jia Yueting didn't care. Anyway, Faraday had been revitalized. If he didn't give up the remaining money, he could borrow it from others if he didn't have any money.
In fact, if you think about it carefully, you will know that if Jia Yueting digs a hole for Xu Jiayin again, he owes his creditors a total of more than 20 billion, and Faraday is the only chance to turn around. The US$1.5 billion sent by Xu Jiayin is not even enough to repay the debt. How can Jia Yueting agree?
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In 2018, Xu Jiayin started building cars with great success. He took a private plane and frequently traveled to Europe to visit major auto parts suppliers in Germany, Italy, Sweden, and , setting off a "Xu's whirlwind" in Europe.
After returning to China, Evergrande acquired the automobile sales network of Guanghui Group, introduced Swedish assembly production lines, and took a large piece of land in Guangzhou to build Hengchi's factory. The four big red characters of "Hengda Automobile" were Hanging outside the factory building.
In Xu Jiayin’s words: “Big big, big big, good, good, good, good, good!” Building a car is too simple for the rich Evergrande. If you don’t have the skills, buy it! If there is no 4S store, buy it! There is no factory building, build it! From 2018 to 2019, Evergrande invested as much as 28.3 billion in car manufacturing a year.
Jia Yueting, who is on the other side of the ocean, is not idle either. With Evergrande withdrawing its capital, Faraday had to postpone the mass production of FF91.
Jia Yueting made a new PPT to attract investment in the United States, but he actually met a "backdoor listing" fund willing to help him list on Nasdaq !
This American fund has taken a fancy to Faraday's huge potential in the Chinese and American markets, and it only needs 1 billion US dollars to put Faraday on the market. Why not?
In 2021, Faraday officially landed on Nasdaq. The reporter asked Jia Yueting, who was hiding outside the venue, how he felt. Jia Yueting's face was full of joy: "That must be good!" The reporter asked again: "Are you planning to return to China?" Jia Yueting replied proudly: "That's a must!" Perhaps at that moment, he really saw the hope of returning to China.
The fate of Xu and Jia took a turn for the worse in 2021. At the beginning of 2021, the media continued to question the authenticity of Hengchi Automobile . A reporter discovered that Evergrande was quietly building a community near the Evergrande Automobile Factory.
People can’t help but suspect that Evergrande acquired land in the name of building cars, secretly changed the land use, and started real estate in disguise.
even some self-media sarcastically said: Evergrande Motors is short of cars. At the Guangzhou Auto Show that year, Hengchi Automobile prohibited car owners from watching it at close range. People questioned it as a model and empty shelf.
Xu Jiayin never responded to these questions because he had bigger troubles and an explosion of huge debts was imminent. How could he be in the mood to take care of Hengchi Automobile? After the RMB 2 trillion debt was exposed, Xu Jiayin became the country’s biggest “laogui”.
Jia Yueting was inexplicably attacked by a Wall Street short institution, saying that Faraday was a shell company and that Jia Yueting was using various methods to drain the company's cash to repay domestic debts.
Most listed companies will not respond to such short selling reports.
, such as and Tesla , are shorted at least 10 times a year. Musk never gives an official response except for a few curse words. Perhaps the Faraday board of directors felt that Jia Yueting did have a problem, so they actually announced the establishment of an "internal investigation committee" to thoroughly investigate Jia Yueting's problems.
Faraday’s share price also fell from US$10 to US$2. Shareholders posted online questions: Why does the company give people a handle and respond to short-selling institutions? Almost everyone does not believe that Jia Yueting can mass produce FF91 in the third quarter of 2022.
Jia Yueting has once again become a liar that everyone calls for beating in the United States.
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Taking advantage of the east wind of new energy, CATL and BYD were elevated to the altar by investors and were honored as "King Ning" and "King Di". How could Xu Jiayin and Jia Yueting not be moved after watching it? Now Hengchi and Faraday in their hands are the only trump cards that can make a comeback.
In March this year, Xu Jiayin, who had disappeared for a long time, released an internal meeting video, asking the group to work hard for three months to ensure that Hengchi would be mass-produced in May.
A month later, he appeared in the Hengchi offline showroom again, standing in front of the Hengchi car, smiling and giving a thumbs up, and shouted excitedly: "Beautiful! So beautiful!"
After the debt crisis, Xu Jiayin lived in seclusion. This year He has only appeared in public three times, two of which were for Hengchi. This shows the status of cars in his heart. Evergrande's turnaround depends entirely on new energy.
No, Hengchi 5 is finally going into mass production. A huge press conference was held. Liu Yongzhuo, president of Evergrande Automobile, said: "Hengchi 5 is the best SUV within 300,000 yuan." Actual performance Only consumers can judge, but at least Xu Jiayin sees hope.
Jia Yueting was also lucky. After Faraday's stock price hit bottom, it soared 130% for two consecutive days on June 30 and July 1!
It is said that an American company called Pioneer Group purchased a large amount of Faraday's shares to support Jia Yueting. Pioneer Group's background is not simple. It is the largest shareholder of Microsoft and Apple , and the second largest shareholder of Tesla. Major shareholder. Under the guarantee of Vanguard Group, investors followed the investment crazily, stimulating the stock price to skyrocket.
Shareholders in Tieba also swept away the gloom of the past half year and posted excitedly: "Faraday may be the next Tesla!"
From "Chinese liar" to "China's Tesla", in one year, Jia Yueting The image of the United States has undergone a 180-degree change.After receiving the support of Vanguard Group, Jia Yueting forcefully reorganized Faraday's board of directors and regained control.
It is said that the establishment of the "internal investigation committee" last year was a conspiracy by the minority on the board of directors. They wanted to destroy Faraday's stock price and force Jia Yueting to "abdicate."
God is not as good as man. Jia Yueting seems to have some kind of charm and can always get money. First there was Sun Hongbin , then Xu Jiayin, and now there is a pioneer group. It can only be said that Jia Yueting is not simple!
But I have to ask, who is more promising, Evergrande Automobile or Faraday? I think it's Faraday. After all, Jia Yueting only owes 20 billion and Xu Jiayin owes 2 trillion. Jia Yueting is more likely to make a comeback.
Author: Jiangzuo Youan
Reference:
"As Chinese founder reshuffles board, electric car startup Faraday Future surges 50% in two days" Financial world
"Evergrande launches new energy vehicle company with US$2 billion, Xu Jiayin is determined Build a car? "Yicai Finance
" Sun Hongbin was made to cry and he kicked Xu Jiayin. Where is Jia Yueting's Faraday Future headed? 》 Bowang Finance
"Xu Jiayin made three public appearances this year, both times for cars" Xiangcai Plus
"Faraday surges 100% in the next two days" Shenzhen Business News
