Photo Source: Photograph Network
Reporter: Li Xing
On October 31, 2018, FF issued a statement to the public that because of Hengda's health default, FF is facing temporary cash flow difficulties, resulting in it having to take temporary measures immediately. After May 1, 2018, most of the employees who joined FF America stopped working in November and December. After adjustment, FF American company chose to retain about 500 employees, but the wages need to be temporarily reduced.
On November 29, 2018, FF failed in the second emergency arbitration with Evergrande Health, and FF funds turned red again. Five days later, FF issued its second statement on recent business operations adjustments, including further measures to suspend salaries and retain jobs, extending its scope to the world. FF American Company has reduced more than 100 employees on the basis of more than 500 employees previously retained. After two staff adjustments, FF retained more than 1000 employees worldwide to continue working.
FF insiders said that FF's ongoing financing work has made tremendous progress, equity financing and debt financing are in the process of synchronization. Among them, in equity financing, many investors have expressed their investment intention to FF and started negotiations; creditor's rights financing has made breakthroughs and is expected to be announced in the near future.
Payment of Chinese Employees'Wages as scheduled
The people close to FF China said in an interview with reporters that up to now, FF employees in China are estimated to have more than 300.
According to Tian Eye Check, on February 19, the legal representative of Lexin Automobile (Beijing) Co., Ltd.'s wholly-owned subsidiary Law Law Law (Beijing) Network Technology Co., Ltd. changed from Wu Meng, Jia Yueting's driver, to Wang Zhigang, Jia Yueting's hometown. Wang Zhigang is also the manager and executive director of the company.
The employees close to FF China told reporters that all FF China's business belonged to the future smart car (China) group of Evergrande Faraday after previous cooperation with Evergrande. After breaking up with Evergrande, FF China will return to FF and start its normal operation.