Since Evergrande officially announced its investment in Faraday Future, the new energy car company led by Jia Yueting has been enjoying good news. Although there are still many doubts, its external environment has been significantly improved. .
At the same time, Evergrande Health as the mainstay of investment, influenced by the FF news of Xu Jiayin, chairman of China Evergrande Board of Directors, went to the US to inspect FF news. The company's stock price has risen sharply and reached a record high. The market value has also exceeded HK$80 billion. More than doubled, far exceeding Evergrande's investment in FF.
Xu Jiayin went to the United States to inspect FF
Evergrande Health's stock price rose sharply
On July 13, Xu Jiayin arrived at the FF headquarters in Los Angeles, USA. Jia Yueting accompanied the inspection and reported the business progress of FF to Xu Jiayin.
According to the information given by Evergrande and FF, Xu Jiayin and his party carried out detailed research on the core R&D departments of FF headquarters, such as manufacturing, electrical laboratory, powertrain, battery electronic control, design studio, vehicle safety, vehicle networking, and autopilot. The research and experience of FF's first high-end model FF 91. Xu Jiayin highly praised FF's world-leading products and technologies, and highly praised the interior and exterior design and product performance of FF 91.
With Xu Jiayin's strong praise for FF, Evergrande Health's share price has soared again. On July 16th, Evergrande Health's share price rose more than 17%, reaching 9.43 Hong Kong dollars per share, and eventually rose 14.59 throughout the day. On the second day, Evergrande Health opened again higher, closing at 9.28 Hong Kong dollars per share, with a market capitalization of over HK$80 billion, which is close to 30% of China Evergrande.
In fact, since Evergrande invested FF parent company at HK$6.75 billion at the end of June and became the largest shareholder of FF, the company's share price has soared more than 100%. 'This also reflects the market's affirmation of Evergrande's investment in FF. With the advanced technology of FF and the financial strength of Evergrande, FF is very promising to become an important force in the future new energy vehicle market.
FF accelerates mass production planning
Xu Jiayin said that it will support all-round
In addition, on the same day that Xu Jiayin went to the United States to inspect FF, FF's Hanford factory in central California also received a temporary office permit (TCO) from the California government.
It is reported that after the acquisition of TCO, with the advancement of various aspects of the construction of the plant and the production of prototype vehicles, the Hanford factory is applying for and will continue to obtain conditional use permits (CCO) and final licenses (COO).
Jia Yueting told the media that the acquisition of the TCO at the Hanford factory was one of the major recent developments of the company, which made FF take another step towards delivering the first production car on time.
According to the previous investment agreement between Evergrande and FF, at the annual and special shareholders meeting of the new company, each share held by Evergrande has one vote, and Jia Yueting holds 10 votes per share. However, in the case of Jia Yueting’s breach of contract, the voting rights will reverse, and the special voting rights will be transferred to Evergrande.
Whether FF can deliver the first batch of electric vehicle mass production in the end of 2018 or the first quarter of 2019 will also become the key to determining the future fate of FF. If Jia Yueting fails to deliver on time, Evergrande will gain absolute control of FF. right.
However, from the information disclosed by the current parties, FF is accelerating the mass production of the first batch of electric vehicles. Xu Jiayin also said that investing in FF is definitely the right decision. Evergrande will be in terms of capital, production base construction, product sales, etc. Give FF all-round support.