On October 9, 2018, this was the 105th day after Evergrande officially announced that it would build a car with Jia Yueting. On this day, some workers were still working on site at the site of Evergrande Faraday's future Nansha. But the surrounding villagers have already I noticed that this previously hot work site, because 'Jia Yueting wants to kick Evergrande out', has undergone a slight change. Just half a month, Evergrande also spent 14.5 billion yuan on the Guanghui Group, ahead of schedule for the new The sale of energy vehicles has paved the way. Now, can FaradayFuture (hereinafter referred to as FF) be mass-produced in early 2019?
At 10:00 on October 9th, Nandu reporter arrived at the entrance of FF Nansha Factory. At this time, it was originally working time, but I saw that the remote pile driver did not start all work. I only heard some machine work sounds, and some workers still work. Construction site officials said that the factory is still under construction.
'From the first half of the year to the present, every day from 6 am to 9 pm, the pile driver roars every day, and there are many mud trucks around. But these two days, from yesterday (October 8) to today, It seems that the movement is a little smaller. 'The villager Feng, who lives next to the construction site, told the Southern Reporter. Later, another villager who was repairing the cement road also said that the news of the past two days has also been heard, but I don’t know if there is any work stoppage. The local Ping An Community Neighborhood Committee is close to the construction site, and the construction site can be directly seen from the office. According to the person in charge, the site of the construction site used to belong to the Zhujiang Overseas Chinese Farm. The neighborhood committee has been doing to collect village opinions and help the villagers and factories. Communication between them. According to reports, in June this year, a heavy rain, the construction site was flooded and soaked in the low-lying houses of the villagers. At that time, the construction site also subsidized several hundred yuan to several thousand yuan according to the degree of loss.
The reporter from Nandu learned that the plot had also stipulated in the previous transfer that the bidders had to start construction and construction within one month from the date of land transfer, and completed and put into operation within 24 months. Now the dispute between Evergrande and Jia Yueting, Also cast a shadow on whether the plot can be put into production on time.
In accordance with the previous ten-year strategic plan of Evergrande Faraday, it plans to build five R&D and production bases in East China, West China, South China, North China and Central China. After 10 years, the annual production capacity will reach 5 million units, FF91, FF81 and other series. Multi-model products for the global market.
Joining the car for a hundred days from honeymoon to rupture
A few days ago, this 'marriage' between Evergrande and Jia Yueting FFTop was still on the sidelines. On November 30, 2017, Hong Kong Shiying Company of Evergrande signed a merger with FFTop under the control of Jia Yueting. And the subscription agreement. Shiying Company invested 2 billion US dollars in 3 years, accounting for 45% of the joint venture company. On May 25, 2018, Evergrande has paid in advance the payment of 800 million US dollars before the end of 2018.
As early as July 5, 2017, after Jia Yueting’s eruption in LeTV, the 'returning to China next week’ became his personal label on the Internet. He was also included in the list of honours by the judicial department. After Evergrande paid 800 million US dollars, Jia Yueting seemed to put his dream into reality, and 'making a car' obviously accelerated. In April this year, when Nansha District sold the land in Wanchangsha Bonded Port Processing and Manufacturing Zone, Ruichi Smart Car (Guangzhou) Co., Ltd. The company won the right to use the land at a reserve price of 364.1 million yuan. The shareholder behind this company is FF.
'In that environment, Jia Yueting could not have funds to get land in Nansha, Guangzhou. It can be seen that the source of funds for the land acquisition was Evergrande. ' A person close to FF guessed. July 24, National Enterprise Credit Information Publicity The system shows that FF established in Guangzhou, Ruichi Smart Car (Guangzhou) Co., Ltd., officially changed its name to Evergrande Faraday Future Smart Car (Guangdong) Co., Ltd. This confirms the person's statement. The reporter learned that the plot was sold at that time. At the time, strict standards were set, which conformed to the FF format. Moreover, the land parcel also required that the bidders must introduce a pure electric vehicle assembly project with the world-class pure electric vehicle R&D and manufacturing level within one month of competing for the land.
On August 7, 2018, Evergrande Faraday Future Smart Car (China) Co., Ltd. was formally established. The registered address is also in Nansha District, Guangzhou, and is the same as Evergrande Faraday Future Guangdong Company. As the operational headquarters of Faraday in China, Evergrande Faraday Future Smart Vehicles (China) Group will be fully responsible for Faraday's future technology research and development and all production management in China.
Southern reporters learned that just before the National Day, Evergrande still had full confidence in this 'marriage' between Jia Yueting. Who knows that on October 7, Evergrande publicly opened a 'marriage' break news: Jia Yueting at 2018 On October 3, the Hong Kong International Arbitration Center filed an arbitration requesting the deprivation of Evergrande's consent to the financing as a shareholder, and lifting all agreements and depriving Evergrande of its rights under the relevant agreement.
If the relevant arbitration claims are supported, then 'deprivation of financing consent' means that Jia Yueting can sell the shares of the joint venture company, then the shares of Evergrande in the joint venture company will be diluted and diluted; and the agreement is more straightforward and equal. Jia Yueting can directly kick out Evergrande.
statement
Whether the dispute reached the 'payment conditions' Jia Yueting fight for 'special voting rights'
Nandu reporter learned that the current dispute between Evergrande and FF's original shareholder Jia Yueting mainly depends on whether the payment terms of the second payment have been reached. According to the previous agreement, Evergrande should pay 800 million US dollars before the end of 2018, 2019 Paying 600 million U.S. dollars and paying 600 million U.S. dollars in 2020. In July this year, Jia Yueting asked for the payment of the next 700 million U.S. dollars. Evergrande said that it had signed a supplementary agreement with Jia Yueting, agreeing to pay in advance if the payment terms are met. In the announcement, Faraday said in the announcement that Faraday's future and its CEO, Jia Yueting, abide by the responsibilities and all requirements stipulated in the July 2018 agreement, but did not receive funds.
Judging from the current public information, neither party disclosed the 'payment conditions' agreed at the time, and it is still pending arbitration by the Hong Kong International Arbitration Center.
It is understood that although Evergrande is the largest shareholder of FF, according to the previous agreement, its shares are 'one share, one vote', and the original shareholder represented by Jia Yueting is 'one share of ten votes', so Jia Yueting still has 88% of FF's voting rights.
However, Evergrande also proposed additional conditions: When the mass production target in the first quarter of 2019 could not be reached, Evergrande will withdraw Jia Yueting's special voting rights. Industry insiders said that if Jia Yueting and others could not deliver the first batch of electric vehicle mass production delivery The promise, that is, the default situation of Evergrande, the actual control of FF will also be transferred to the hands of the largest shareholder Evergrande. Therefore, Jia Yueting proposed arbitration on October 3, to kick out Evergrande, not to rule out In the context of the difficulty of fulfilling the promise of mass production as scheduled, it may lose control and take a step in the background.
Evergrande said that it has hired an international team of lawyers and will take all necessary actions to defend the rights that Evergrande continues to enjoy under the relevant agreements and protect the interests of the company and its shareholders.