A few years ago, when the new energy vehicles has just started, many automobile manufacturers like mushroomed added to the manufacturing of new energy vehicles, these companies also referred to as the repairer repairer new force, but a few years time passed, and now some of these new forces to build cars already in production, and some are still struggling to pressure on the funding of this struggle, as well as business repairer because of personal reasons filed for bankruptcy reorganization.
Here, many friends have guessed this enterprise, which is created by the Jia Yueting Faraday Future, in fact, as early as a month ago, FF is officially announced Jia Yueting will resign as CEO by Bi Fukang took over, and Jia Yueting will be transferred to the company CPUO.
In October 14 of this year, Jia Yueting initiative to apply for personal bankruptcy and creditors’ trust founded rumor officially confirmed. Jia Yueting debt management team, said in the release of “statements about Mr. Jia Yueting personal bankruptcy and creditors’ trust established” in Jia Yueting was US local time on October 13 under the laws of the United States initiative to apply for Chapter 11 personal bankruptcy reorganization.
Jia Yueting will no longer hold any shares of FF
It is reported that as part of a personal bankruptcy reorganization plan by the creditors, the creditors asked the Board of Trustees and the trustees have control and management of will also be set up, the United States Court finds Jia Yueting all assets and related income will be transferred to the creditors in this way. This also means that, if the program is to confirm the completion, Jia Yueting does not hold any equity interest in the FF related.
At the same time, the debt management team stressed Jia Yueting has been based on the attitude and commitment in the end responsibility for all debts, in It had been gradually repaid over three billion US dollars. This time, apply for personal bankruptcy reorganization in order to better solve the remaining personal debt problems more quickly, so that every creditor debt equal opportunity can be obtained.
can see that for personal bankruptcy and creditors’ trust scheme Jia Yueting application, combined with the partner system FF company had earlier completed to analyze, personal bankruptcy reorganization Jia Yueting FF for future planning and future development It is a good, after all, the partyCase can completely solve the problem Jia Yueting remaining debt, at the same time, when Jia Yueting no longer holds shares of FF financing rate will accelerate, and FF can maximize the value of assets and equity interests of creditors eventually.
in order to survive FF still financing
can see that if the proposed restructuring plan Jia Yueting be approved, then the FF will be a great convenience in terms of follow-up financing, the reason that is, after rumors in the fall after a funding crisis, FF have been approached many times the financing, but do not want to transfer control from Jia Yueting FF, so so many companies want to invest and therefore gave up the financing of FF .
As for the rumors are not groundless, as early as the end of 2017, FF for the first time standing on the edge of bankruptcy. Hengda was at this time in front of External and FF. Over the same period, leading Hengda spend $ 300 million to help the FF out of bankruptcy. However, the honeymoon period Hengda lasted only six months, Jia Yueting choose to transfer ownership of third parties are not accepted as a rival, the two sides came to blows. By this time, FF once again in financial difficulties.
Since then, FF had to seek new financing channels. In March this year, the ninth city FF jointly set up a joint venture, and the introduction of institutional investors for the amount of FF 91 production to raise funds. FF, Ninetowns tripartite joint venture and licensing agreements, joint ventures FF will grant an exclusive license in China manufacture, marketing, distribution and sales of the new FF’s Internet smart luxury brand new electric car models V9, including the subsequent authorization agreed models but on this basis, FF is still not well improved, so that the production car has been postponed again and again.
preparing for?
and this time apply for the purpose of personal bankruptcy reorganization is to solve the debt problems of Jia Yueting. As long as the restructuring plan through, Jia Yueting personal debt responsibility will be lifted, Jia Yueting will naturally return home, after shrugging off the question of money, FF will achieve China and US has been synchronized, so for FF, the future is still much uncertainty row mass production to delivery, delivery to the domestic, there is still a long way before this period will not againExperiencing funding problems, who also said that bad.
Although the FF to return to the domestic aspect of confidence, but if you want domestic landing, there is still a lot of resistance FF the first is the problem of manufacturing plants. When reconciliation and Hengda early as the end of 2018, FF in Guangzhou Nansha plant that is delivered to the bigger, but after the break with Hengda, FF and domestic Internet companies have also entered the ninth city in the joint venture agreement, both sides have to actively promote settled Funchal Qin industrial area in Inner Mongolia. But by far, Shull Qin whether or Mogan, FF plant projects in the country seems to have stalled.
Furthermore, even Faraday can quickly get the money, and can be done to deliver volume production this year, but for FF 91, it does not produce qualified domestic production can not, however, wait for the FF only two programs, acquisitions and OEM, so, how to achieve localization off the assembly line in the year 2020, for the FF is still unknown.
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For Faraday, the assets were frozen several times in the experience, after the auction, Jia Yueting domestic assets has in fact been cleared, but this time in the United States filed for bankruptcy reorganization Jia Yueting also means giving up all US assets.
Although Jia Yueting bent on FF made, but the only option to maximize the value of assets and creditors FF trust is Jia Yueting remaining the same time, Jia Yueting has been handed over to the FF Bi Fukang, but still there is a big the question, after all, in the new energy all have launched their own products and delivery time node, FF still could not get a their own production models.