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As early as the end of April, FF received a comment letter from Nasdaq that it would be delisted from Nasdaq because the closing price of its stock was less than $0.1 for 10 consecutive trading days, which no longer met the NASDAQ listing requirements.
In order to "save the market", on May 7, Jia Yueting, founder and chief product and user ecology officer (CPUO) of FF, released a 6-minute video on his social platform, announcing that he would start the commercialization of personal IP. Jia Yueting said that he decided to stand up and seriously think about becoming a co-CEO with Matthias and sharing responsibilities. Through the commercialization of personal IP, we will try to make some money as soon as possible, part of which will be used to repay debts, and part of it will be used to subsidize car manufacturing. We will strive to support the basic operations of FF. Confidence for investors and shareholders.
On May 10, Jia Yueting released a video again saying that all the personal proceeds from the commercialization of personal IP will be used to repay debts and build cars. Jia Yueting said: "What I want to do is not simply live streaming, but on the basis of light operation, through model innovation, AI technology innovation, IP e-commerce globalization, Chinese brands going overseas and products going overseas and other dimensions to explore a new path in the era of IP e-commerce 2.0." ”
Jia Yueting's "personal IP commercialization" seems to have "worked" to make money. At the close of the U.S. stock market on May 14, local time, Faraday Future (FF) shares soared 367.54% to close at $0.285 per share; At one point, it rose nearly 490% during the session, setting the highest increase since FF went public. On May 15, Faraday Future's (FFIE) stock price soared more than 120% in pre-market trading in the U.S. stock market. As of 4:33 a.m. ET on May 15, the company's stock price was trading at $0.5 U.S. stocks, up 75.42%. Based on the closing price on May 10, the stock has risen more than 10 times in pre-market trading today, and its market value has rebounded to $30 million.
FF said that this marks that the founder Jia Yueting's ongoing "FF listing qualification defense battle" has won a good start, especially the stock price soared by nearly 370%, giving the capital market and the company's internal huge confidence.
In this regard, Jia Yueting said that the United States imposed 4 times tariffs on Chinese electric vehicles, and more and more people are aware of the uniqueness of FF as a bridge between the Chinese and American automobile industries, as well as many unique values, under the premise of complying with relevant US laws and regulations, FF can help Chinese car companies and supply chains, quickly enter the US market, reduce trial and error and time costs, and hope to have the opportunity to cooperate with Chinese car companies.
At the same time, Wall Street analysts said that in the context of the US government's increase in import tariffs on Chinese automobiles to 100%, FF's unique Sino-US dual gene and dual home model, coupled with the double stimulation of the company's founder Jia Yueting to build cars through personal IP, are the core factors of this round of skyrocketing.
Looking back at the development of the new energy vehicle industry in mainland China from the "FF stock price skyrocketing":
-- China's new energy vehicle market share ranks first in the world
In terms of market share, the global market share of new energy vehicles will reach 13.3% in 2022, of which China has the highest market share of new energy vehicles, reaching 24.4% in 2022, followed by Europe, with a market share of 17.3%. Compared with the average market share of 13.3% in the global new energy vehicle market, it can be seen that the market share of new energy vehicles in India and Japan is low, and the future market space is relatively broad.
-- The penetration rate of new energy vehicles has increased significantly
According to the data of the China Automobile Association, in 2014, the mainland began to see private purchases of new energy vehicles, which also opened the first year of new energy vehicles in the mainland. In November 2015, the production and sales of new energy vehicles in mainland China accounted for more than 1% in the overall automotive industry for the first time, and mainland China also became the world's largest new energy vehicle market in this year.
According to the latest data released by the China Association of Automobile Manufacturers, the market penetration rate of new energy vehicles in mainland China (the proportion of national new energy vehicle sales in the total national automobile sales) reached 35.7% in 2023, a significant increase from 2022.
-- The scale of export trade of the new energy vehicle industry
From the perspective of export value, the mainland new energy vehicle industry has developed rapidly from 2018 to 2022, and the export scale of new energy vehicles has increased rapidly, from 338 million US dollars in 2018 to 22.907 billion US dollars in 2022, with a compound annual growth rate of 186.92%. The rapid growth of China's new energy vehicle exports shows that China's new energy vehicle industry as a whole is developing rapidly, and has a great position and advantage in the global market.
According to the analysis of the Prospective Industry Research Institute, the technological innovation trend of China's new energy vehicle industry will pay more attention to the application of emerging technologies such as artificial intelligence, intelligent vehicles, Internet of Vehicles technology, autonomous driving technology, and cloud computing technology, and the development of these technologies will further promote the development of the entire industry.
Zhang Yongwei, vice chairman and secretary general of the China Electric Vehicle 100 Association, predicts that the production and sales scale of new energy vehicles is expected to reach 13 million in 2024, with a growth rate of about 40%, an overall penetration rate of more than 40%, and a monthly penetration rate of passenger cars is expected to exceed 50%, ushering in an important milestone in industrial development.
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For more research and analysis of this industry, please refer to the "Analysis Report on Market Prospect and Investment Strategic Planning of China's New Energy Vehicle Industry" by Qianzhan Industry Research Institute.
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