On October 27, Jia Yueting congratulated Tesla on Weibo on its market value of more than one trillion US dollars, while Tesla's total market value exceeded the total market value of 11 traditional car companies such as Toyota, Volkswagen, General Motors, and Ford.
He then mentioned his "insights." In 2014, when Tesla's market value was only $30 billion, he proposed the "SEE" plan, Faraday Future was officially established in California, USA, and the research and development of FF 91 began. He described FF 91 as a "new species" that positions the luxury of Jizhi Technology, which is not only an all-round car, a super car robot, but also a smart electric drive control system and a third Internet living space. I have to say that Jia Yueting's ability to make words and sentences is really extraordinary, and he can say simple concepts.
Tesla's stock price is rising steadily, while Faraday's future stock price is falling frequently. On July 22, Faraday Future listed on the NASDAQ in the United States for an issue price of $13.78, and today's stock price is only $8.56, showing a sharp downward trend, and the current market value is only $2.777 billion. Since 2014, Tesla's market value has risen more than thirty times, but Jia Yueting still can't get a mass-produced car, which has to make people doubt Jia Yueting's car-making story.
On October 8, J Capital Research, a short-selling agency in the United States, released a short report on Faraday's future, opening with a statement that Faraday Future would never sell a production car. The report is divided into three parts, which explain nine major problems such as factory failure, predetermined quantity fraud, insufficient funds, and immature mass production technology in the next 7 years of Faraday's establishment.
The report claims that the FF 91 may never be able to be mass-produced because the plant has never been built. Faraday Future has planned three depots in each of the United States and China, and as of now, none of them have been built. It is getting closer and closer to the delivery time of the FF 91 claimed by Jia Yueting in July next year, and there is still very little construction activity in the unbuilt depots.
Factory construction can also be accelerated with funds, and immature technology will cause FF 91 to lose competitiveness. The report quoted two former Faraday Future executives as saying that the FF 91 power battery could explode if the heat ran out of control. In addition, due to poor credit and reluctance of parts suppliers to cooperate, these will lead to the inability of FF 91 to be mass-produced.