On April 1, the Financial Associated Press reported that the Us Securities Commission (SEC) documents on March 31 revealed that a number of executives of electric vehicle company Faraday Future were subpoenaed by the SEC for allegedly issuing false information to investors.
Separately, Faraday Future said it was not expected to be able to file its annual report for December 2021 within the deadline due to delays caused by internal investigations.
Seeing jia Yueting's kind of news, Xiao Lei was already strange. In October last year, J Capital Research, a short-selling agency in the United States, released a short report on Faraday's future, which began by stating that Faraday Future would never sell a production car. The report is divided into three parts, which elaborate on nine major problems such as factory failure, predetermined quantity fraud, insufficient funds, and immature mass production technology in the next seven years since Faraday's establishment.
The report of the short-selling agency may directly affect Faraday Future's stock price, or it may be a special release of some fake news to assist short-selling, the credibility is not so high, but the US Securities Commission summoned Faraday Future executives to inquire, it is likely to receive some relatively credible news. However, the final facts will be subject to the results of the investigation.
If Jia Yueting is found by the U.S. Securities Commission to spread false information to investors, the reputation of Chinese entrepreneurs in the U.S. securities market may further decline. Previously, the Luckin incident caused an uproar in the United States, and frequent such incidents will make it more difficult for Chinese companies to go public in the United States.
One of Faraday's most recent big moves was the release of a quasi-production vehicle for the FF 91 that had just rolled off the production line at its California plant at the end of February. It is worth noting that since FF's factory in California is still in the construction stage, the FF quasi-production vehicles displayed at the press conference are only painted at the factory. This means that the assembly of this quasi-production car and the previously released pre-production car are manually assembled.
Even if FF 91 is really built, it has missed the golden period of development. The FF 91 is a luxury electric car, and in terms of acceleration performance and assisted driving level, it is likely to be inferior to tesla Model X Plaid. On the level of intelligence, it is difficult to compete with the upcoming Apple car, and the market space is further narrowed.