Wei Xiaoli, the three major companies to make cars, should be the earliest among the new forces in China, about 10 years ago, belonging to the predecessor level.
In the past 10 years, Wei Xiaoli's cars have sold hundreds of thousands, and they have also been successfully listed in the United States and Hong Kong.
But in fact, at the same time as Wei Xiaoli made cars, there was also a new power car company in China, which was also established 10 years ago.
It is Jia Yueting's LeTV car, which was later renamed FF Faraday Future, and it also has a history of about 10 years.
However, FF Faraday has a history of 10 years, and it has burned a lot of money, with a cumulative investment of more than 3 billion US dollars, that is, more than 20 billion yuan, and here Jia Yueting personally has less than 2 billion US dollars, but now only 11 cars have been delivered, one of which is Jia Yueting's own.
You said that FF Faraday went out of business, he didn't go out of business, he is still alive strong, Jia Yueting comes out from time to time to brush up on his sense of existence, you say that FF has not gone bankrupt, but it seems that it is difficult to survive again, because there is no money to continue.
The more disastrous consequence is that FF Faraday Future recently received a letter from the Nasdaq exchange that it would be delisted from the Nasdaq because it did not comply with the Nasdaq listing rules.
At present, the market value of FF Faraday is less than 2 million US dollars (1.78 million US dollars), which is more than 99.9% lower than the billions of US dollars in the past, and the stock price has closed at $0.10 or lower for ten consecutive trading days, so it was removed from the NASDAQ.
And once it is removed, it is estimated that FF Faraday will be impossible to go public again, and at present, FF Faraday is riddled with debts and owes a lot of debts, and it is estimated that it is impossible to raise money from the outside, so it will not be able to continue, I don't know what Jia Yueting will take to return to China?
And the worst should be Jia Yueting's creditors, Jia Yueting went bankrupt personally and turned all the $2.96 billion debt he approved into FF Faraday stocks, with a ratio of 17.2%.
Only when the market value of FF Faraday rose to more than $17.2 billion, these creditors did not lose money after cashing out, but now that FF Faraday has been removed, the $2.96 billion has been directly zeroed, and these creditors have no way to collect their debts.
A few days earlier, Jia Yueting also said that according to American law, he no longer owes debts, referring to the fact that he personally filed for bankruptcy and then converted the debts into FF shares, and the debts of the creditors were transferred, so he personally did not owe debts, and realized the golden cicada shelling.
But this is only American law, unless he does not return to China, if he returns, Chinese law does not support him to do so, so Jia Yueting will basically not be able to return to China in a short period of time.
A few days ago, Jia Yueting said that "anything that can earn money to build a car, earn money to pay off debts, and return to the motherland as soon as possible, (he) is willing to do, and the day he succeeds in building a car and repays his debts is when he returns to China", but now it seems that it should be far away.