In response to the announcement of Evergrande Health released on the evening of October 7, Faraday will issue a response statement on its Twitter homepage on the 8th of October, giving a different statement from the Evergrande announcement.
In the future, Faraday said that after Evergrande's initial investment of 800 million U.S. dollars, it agreed in July 2018 to pay an additional $500 million out of the remaining $1.2 billion. The announcement also stated that the difference between the media and shareholders is that Evergrande told the media that It is not FF CEO Jia Yueting or others who have manipulated the board to make Evergrande reach these agreements. In order to advance the payment to 2018, Evergrande fully understands why and when FF needs funds, that is, the production of FF91 is completed in 2019. deliver.
'But unlike the report, Evergrande did not make any previous promised payment behavior except for the initial investment of 800 million US dollars, although FF and CEO completed all the required conditions. Evergrande also tried to obtain FF China and the whole FF. At the same time, Evergrande also tried to prevent FF from obtaining timely financial support from other sources.
The incident originated from an announcement issued by Evergrande Health on the evening of October 7. The announcement stated that the FF of its investment had been arbitrated at the Hong Kong International Arbitration Center on October 3, requesting that the consent of Evergrande as a shareholder to enjoy the financing be deprived. Right, and lift all agreements, depriving Evergrande of its rights under the relevant agreement.
According to the announcement, Shi Ying (Hengda Health Subsidiary) entered into a contract and subscription agreement with Faraday Future's original shareholder (FF Top Holding Ltd, the actual controller is Jia Yueting) on November 30, 2017. Shi Ying invested $2 billion in three years. , 45% of the joint venture company Smart King Ltd. (Smart King), according to the agreement to pay 800 million US dollars before the end of 2018, pay 600 million US dollars in 2019, pay 600 million US dollars in 2020. Shi Ying on May 25, 2018 The day has been paid in advance to pay $800 million to pay before the end of 2018.
In July 2018, Jia Yueting proposed to Evergrande that the latter’s payment of 800 million US dollars had been basically used up, and asked Ying Ying to pay 700 million US dollars in advance. Shi Ying in order to maximize the support of Smart King development, and Smart King Signed a supplementary agreement with the original shareholder, agreeing to pay 700 million US dollars in advance on the premise of meeting the payment terms. Evergrande said, 'The original shareholder used his rights in the majority seat of Smart King to control Smart King, did not reach the contract payment. Under the conditions, the payment is required, and as an excuse to arbitrate to the Hong Kong International Arbitration Center on October 3, 2018, requesting the deprivation of Shiying as the shareholder's right to consent to financing; lifting all agreements, deprivation of the time Rights under the relevant agreement. '
A future Faraday executive told the media earlier this year that Jia Yueting signed a gambling agreement. If he could not deliver the car at the appointed time, he would lose control of Faraday's future. 'And close to Evergrande. The source also believes that this arbitration request is because Jia Yueting could not deliver on time, worried about losing control, and thus took the initiative to fight against Evergrande in advance.
Some market analysts believe that FF and Evergrande apparently have differences in some aspects, whether or not FF effectively fulfills the terms of the agreement. This also casts a shadow over the FF91 mass production at the end of the year.
It is reported that Jia Yueting has verbally promised to achieve mass production of FF91 by the end of 2018, and put into production of 100,000 vehicles in 2019. Vice Chairman of Evergrande Health and Chairman of Evergrande Faraday Future Smart Vehicle (China) Co., Ltd. (Hengda FF China) Peng Jianjun It has also been said, 'Full efforts to ensure that FF91 achieves mass production targets on time in the first quarter of 2019.'
Today, Faraday's future crisis is not only caused by the complete tearing of the face with the investor Evergrande, but also itself once again caught in a financial crisis. According to the US media TheVerge, Faraday has once again experienced the problem of default, some suppliers and sellers call it The model has not been received for several weeks. Faraday has used various means to delay payment, including the company’s financial resignation, the need for the cheque to be signed, etc. This is exactly the same reason that Faraday will use in arrears in 2017. At least three of them are currently available. The merchant has applied to the California government for preservation of property.
At the same time, Faraday's first and only pre-production FF91, which was built in August this year, was destroyed by fire at the 'Future Day' event at the end of last month. After the fire, Faraday asked employees to sign a confidentiality agreement. Do not disclose specific fires and losses to the outside world.
In response to the arbitration request of FF, Evergrande stated that Shiying has hired an international team of lawyers and will take all necessary actions to defend the rights of Shiyingying under the relevant agreements to protect the interests of its company and its shareholders. Then, 'We continue to take firm actions, including pursuing financing opportunities from those who share our vision to ensure our dreams are fulfilled.'
Publicly, at the end of September, LeTV was auctioned for a number of core asset shares, and Sunac became the largest shareholder of Lerong Zhixin and LeTV Pictures. The only domestically controlled by Jia Yueting is left behind. At the edge of the city, LeTV. While being beaten by Jia Yueting, 'all the whole family and even life', the FF is running out, and the time limit for the gambling production is not enough.