Home > News content

The old Jia Xu family printed his face: one wants to be localized. One party must invest all the money in the United States.

via:博客园     time:2018/11/13 22:31:45     readed:172

澎湃News reporter Li Xiaoqing

Faraday Future founder and CEO Jia Yueting continues to accuse Evergrande of defaulting and causing Faraday Future to experience a cash flow crisis.

On November 13th, Faraday Future of Faraday issued a statement saying that it had filed an arbitration application with the Hong Kong Arbitration Center on the 12th, requesting the lifting of Evergrande Health (00708.HK)'s mortgage on FF assets.

On the day when FF sued Evergrande again, Jia Yueting said at the "Faraday Future Evolutionary" strategy meeting held in the United States that his heart has been very grateful to Evergrande and Xu Jiayin for their help to FF, but Jia Yueting said that his sincerity for Evergrande has not changed. Going back to the corresponding respect, Evergrande forced FF to move to a more difficult situation step by step, insisting that the short-term financial crisis encountered by FF was caused by the malicious default of Evergrande.

Jia Yueting accused Evergrande of FF's global control at the strategic meeting and said that Evergrande violated the agreement when the financing agreement was signed. Jia Yueting said that when Evergrande and Jia Yueting were engaged in financing negotiations, Jia Yueting’s only requirement was that he could not give up control of the company. & ldquo; This is the lifeline of FF. ” Jia Yueting said this.

Regarding the issue of control rights, people close to Evergrande said that Shi Ying paid a deposit of 30 million US dollars before signing the formal agreement, which solved the company's payment crisis, avoided the bankruptcy situation that triggered large-scale layoffs, and then did not bid for opponents. It still agrees to grant Jia Yueting the right to vote and the majority of the board of directors. Only the appointed company cashier and the two project evaluation nodes are retained. This is based on the trust of the management team.

When talking about the funds at the strategic meeting, Jia Yueting said, “Based on the sincerity and new appointment to Evergrande, we transferred all 45% of the equity to Evergrande in advance, while FF only received US$800 million, compared to US$2 billion. For the consideration of the transaction, Evergrande should also pay the remaining $1.2 billion in investment funds to FF. The budget for the production of FF 91 at the end of 17 is about US$1 billion and has been approved by Evergrande. The FF 81 and Nansha plant budgets are not included here. In fact, this $800 million destination, of which only more than 400 million US dollars for the FF 91 mass production delivery and next-generation product development, about 100 million US dollars to pay the supplier's upfront costs, more than 200 million US dollars should be Evergrande Requires land development projects and construction for the FF China business and Nansha. And they have repeatedly promised to return $200 million for mass production of the FF 91. ”

However, people close to Evergrande gave different opinions.

According to the above-mentioned person, the US$2 billion is determined based on the business plan proposed by FF and the funding requirements of China's business. The two parties agreed to invest in three years. The investors also agreed to repay the Pre-A claims and suppliers' arrears that Jia Yueting personally guarantees. The employees owe money and plan to support the development of China's business through resources such as guarantees and loans; during the shareholder dispute, the investors continue to provide loans to support the payment of wages and the normal operation of Chinese employees.

Regarding the use of US$800 million, the above-mentioned persons stated that the investor fulfilled its capital contribution obligations and paid an advance payment of US$800 million by the end of 2018 on May 25, 2018. The investment of 800 million U.S. dollars will be used for R&D and production in China and the United States. This is the consensus reached by both parties at the beginning of the cooperation. Among them, 200 million US dollars is used for the construction of China's Nansha R&D and production base, which is not mandatory for Evergrande as an investor.

In his speech, Jia Yueting repeatedly accused Evergrande of attempting to seize FF control and global intellectual property rights. It also pointed out that Evergrande intends to put FF into Evergrande Health listed company, and FF has become a vassal of Evergrande's overall strategy.

However, it is revealed that Evergrande invested in the US new energy vehicle FF to promote the transformation and upgrading of the Chinese auto industry. However, Jia Yueting has set up obstacles in the establishment of R&D supply chain system and data sharing in China. In management, he has adopted family management and asked for all investment funds to be invested in the United States, and the investment pressure and burden of China will be transferred to investors. In the current situation of Jia Yueting’s huge debts and debts, and many times he was listed as a believer, the foundation of cooperation between the two sides was shaken.

China IT News APP

Download China IT News APP

Please rate this news

The average score will be displayed after you score.

Post comment

Do not see clearly? Click for a new code.

User comments