Since various platforms began to display IP addresses, many overseas bloggers have begun to "swim naked".
In recent days, some people have found that Jia Yueting's Weibo IP address has become Beijing, and whether Jia Yueting returns to China has become a topic of market concern.
Subsequently, some media asked FF-related people for verification, and it is reported that the account and the official FF account are operated by a professional team, that is, Jia Yueting did not return to China.
In fact, not returning to China is secondary, and mass production is the only "antidote" for Jia Yueting. Because there are only two months left before the date of its mass production, if this FF cannot be successfully mass-produced, then what awaits Jia Yueting may never be able to turn over.
This is Jia Yueting's last "battle", he pressed not only his last credit, but also all the capital for his future turnaround.
On May 6, FF announced its 2021 Q3 results report as scheduled, and the financial report showed that the net loss for the third quarter ended September 30, 2021 was $304 million, compared with a net loss of $33 million in the same period last year. The earnings report also showed that FF's operating expenses for the third quarter were $186 million, compared to $17.55 million in the same period in 2020, up about 960% year-on-year.
For the large increase in losses, the explanation given by FF is that there is a large increase in operating expenses.
FF Global CEO Bi Fukang said he is still confident of delivering FF 91 in the third quarter of 2022.
According to its earnings report, Faraday Future's cash and cash equivalents were $666 million as of the end of the third quarter of 2021, and FF's cash balance as of the end of the first quarter of 2022 was $276 million, including the repayment of $97 million in notes and accrued interest on schedule.
In other words, if the mass production cannot be successfully completed, FF cash reserves will continue to be under pressure.
As early as February this year, FF announced the completion of the first FF 91 quasi-production car, and on the day of the announcement, Bi Fukang and Jia Yueting also drove the first FF 91 quasi-production car to conduct a dynamic acceleration, braking and pile winding test. After the test was completed, Jia Yueting also praised the FF 91 without hesitation, saying that the most important task of FF in the next step is to go all out to hand over FF91 to customers.
So, how far is it from mass production of the FF 91?
Last October, FF set seven milestones for FF91, and FF has now reached the fourth milestone. Next, FF will complete the fifth milestone of all mechanical, electrical equipment and plumbing systems, the sixth milestone of all infrastructure construction and equipment installation, and the seventh final milestone of achieving "SOP".
According to FF's third quarter 2021 report, most of its third quarter loss was due to an increase in operating expenses, including increased investment at the Hanford manufacturing plant in preparation for full commercial production. According to the seven milestones of FF at that time, then FF has a high probability of reaching the sixth milestone.
How to open up the last "kilometer" and achieve mass production is particularly important for FF, and according to the speed of FF's "burning money", the current FF book cash is probably very tight, because according to its third quarter of last year to the first quarter of this year, only two quarters of FF burned nearly 400 million US dollars.
On the whole, if FF cannot be successfully mass-produced in the third quarter of this year, then FF's funds may burn out in the third quarter, then it will become very difficult for FF to raise funds, and FF will be further abandoned by the market.
According to statistics, FF's stock price has fallen by 85% from the time of the merger and listing last year, and the total market value is less than 700 million US dollars, so the time left for Jia Yueting will not be too long.