Among the many new power-making enterprises, FF is one of the few companies that have fallen into the dispute of discourse power. At present, the intervention of Evergrande is not just as simple as capital investment. FF should be an important chess piece for entering the automobile industry.
On October 29, Jia Yueting, who was deeply involved in public opinion, issued Weibo, saying that the King County High Court of Washington State issued a permanent ban to Gu Yingqiong, which would permanently prohibit Gu Yingqiong from publishing any false remarks against Jia Yueting and his family, and banned it. Contact includes, but is not limited to, employees and creditors of companies related to Jia Yueting, such as LeEco and FF.
Gu Yingqiong, who is in North America, has repeatedly posted information on the Internet against Jia Yueting and related companies, which led to the two sides being in court.
Among the founders of many new power-building companies, Jia Yueting has been the most criticized. It has always been the focus of outside attention. After FF initiated arbitration in Evergrande, the outside world even accused Jia Yueting, saying that he was betrayal, but there are also opinions. , yes and no black and white should not be limited to the surface.
There is a voice outside the world that Jia Yueting’s 'black history' has always been a victim of public opinion. After the incident broke out, Evergrande officials did not publicly respond, and Evergrande Health issued emergency arbitration results, but No comments were made, but FF issued a statement in succession explaining the reasons.
During the arbitration period, FF China’s dozens of Chinese employees initiated labor arbitration. Some commented that this is a means for Jia Yueting to guide public opinion. However, in any case, there is no denying the fact that Evergrande has been fighting for it since investing in FF. FF's control. A Evergrande insider told reporters: 'Without the financial support of Evergrande, Jia Yueting's car-making plan is likely to fail.'
Run-in after cross-border
In the field of new energy vehicles, which has been put to a strategic height by the state, under the slowdown of the automobile market, it has achieved relatively rapid development. In the face of huge business opportunities, real estate developers such as Baoneng and Evergrande have entered the automobile industry cross-border.
Compared with Internet companies, real estate developers with large amounts of capital and resources have certain advantages in entering the new energy automobile industry. However, management concepts and strategic development ideas are very different from those from Internet companies. The contradiction between Evergrande and FF is just the same. This is confirmed.
There is no absolute right or wrong in the dispute between Evergrande and FF. Both parties are considering for their own interests. The key lies in the outcome of the cooperation between Evergrande and FF, and how much confidence the automobile industry has.
Compared with the real estate industry, the automobile industry chain is longer, it is difficult to obtain income in a short period of time, and it is necessary to obtain a certain scale to gain something. At present, the state’s control policies for new energy have been subsidized, guided to market-oriented, and products have been improved. In the direction of competitiveness, the dual-point system will replace the subsidy as the management foundation for the long-term development of the industry. As the automobile industry gradually matures from the growth stage, the cross-border risk of real estate enterprises is increasing.
Take Baoneng as an example. At the beginning of this year, Baoneng acquired 51% of the shares of Qoros Auto for 6.63 billion yuan. In addition, in the layout of new energy vehicles planned by Baoneng Group, the acquisition is only part of its car-making plan, and the other is New energy production bases are deployed nationwide. Some people think that Baoneng will not only invest in new energy vehicles, but also involve real estate and investment in industrial parks.
Although Evergrande is one step slower than Baoneng, it also has its own thinking about the auto industry. Investing in the FF layout of the auto industry is more about the focus of a new round of technological revolution and industrial transformation. In fact, whether it is FF or Guanzhi, can not be said to be a good asset, from Evergrande's desire to control FF's control in China, it can be seen that Evergrande has made plans for long-term investment.
Real estate companies are accelerating their transformation. Investing in the auto industry is only one part of it. Compared with Baidu, Tencent and Ali, the promotion of auto intelligence, in addition to capital, how much real estate enterprises will contribute to the auto industry, is still not conclusive.
Final arbitration is difficult to have a short time
On October 25, Evergrande Health announced on the Hong Kong Stock Exchange that the time of the emergency arbitration was rejected by the arbitrator, and the arbitrator rejected Smart King's application to completely deprive Shiying of the financing consent, and earlier rejected Smart King’s sudden submission. A new application to lift the mortgage of the Season Smart asset.
As a temporary rescue measure, in order to support Smart King's business development and protect the common interests of shareholders, the arbitrators agree that Smart King will conduct strict financing, and the valuation of new share financing shall not be lower than the valuation of Shiying's investment. The right of first refusal of new shares; and the amount of external financing before the final arbitration shall not exceed 500 million US dollars.
On the same day, FF also issued an official statement saying that FF had a decisive victory in the application for emergency relief for Evergrande Health submitted by the Hong Kong International Arbitration Center. The arbitrator ruled that Evergrande could no longer prevent FF from obtaining funds from other financing sources. Previously, Evergrande Try to gain control of FF and global intellectual property through unreasonable and unequal means, including the 'cash famine' that does not hesitate to make FF.
At present, FF's request to the Hong Kong Arbitration Center to deprive Evergrande of its consent to the financing as a shareholder has not been successful, and the claim to lift all agreements is expected to release the final arbitration result in a few months.
In fact, as a start-up company, funds were once the biggest obstacle to the development of FF. The intervention of Evergrande has alleviated the financial pressure of FF in a certain degree. However, Jia Yueting, who has spent Evergrande of 800 million US dollars, how to deal with it A big relationship will be a huge challenge.
It is understood that the product development work of FF91, the first product of FF, has been completed, and the target of pre-production production is achieved ahead of schedule on August 28. The Hanford factory has also completed the planning work for mass production. The final production version is delivered only one step away.