Jia Yueting suddenly announced.
FF has formally entered into a strategic partnership with the Abu Dhabi Investment Office in the United Arab Emirates to establish a regional headquarters, manufacturing plant and R&D center in Abu Dhabi, including the expansion of the UAE capital market.
It seems that FF Company is ready to take advantage of the strong strength of the Middle East tyrant to try to fight again.
The Abu Dhabi Investment Office is a global investment agency focused on attracting investment and driving economic growth and diversification in Abu Dhabi.
On the surface, Jia Yueting's cooperation with Middle Eastern tyrants feels like a big deal. Including on November 28, FF received more than 300 orders within 72 hours after the Middle East strategy conference, but you must know that these orders are 0 yuan pre-order, that is to say, verbal agreement, no deposit is required, and can be canceled at any time.
This kind of behavior doesn't seem to be in line with his usual style, and I'm afraid only Boss Jia himself knows how much water there is.
It is not easy for FF to get to where it is today, and the funding problem of the 10-year road to building a car has always been a fatal injury.
Jia Yueting's FF is either financing or on the way to financing, just like Boss Jia's return to China next week, it always gives people an illusion of hope and despair, and the delivery time of the vehicle is repeatedly postponed, and finally it is gone.
In October, Mr. Jia also issued an open letter to shareholders and investors, in which he said that the company's stock price and market value had encountered a dark moment.
Not long after, Jia Yueting leased Faraday Future's only car-making factory, the Hanford ** factory, which was built with a huge amount of money at that time, for $12 million, and then leased back for use at an annual rent of $1 million.
Boss Jia said that the purpose of selling the factory was to solve the problem of tight funds.
In fact, Boss Jia not only sold Faraday Future's factory, but also sold Faraday Future's Los Angeles headquarters building, and finally leased it back for use again.
As we all know, in order to solve the problem of funds, Boss Jia also used various methods.
Initially, it was to find Evergrande to hold hands and cooperate, and later because of the dominance issue, Evergrande Automobile announced its withdrawal, in order to solve the debt crisis, Jia Yueting also mortgaged all his equity to all creditors in the form of personal bankruptcy.
Now he has sold the headquarters building and the factory, although he can solve the urgent need for a period of time, but if FF wants to survive, it needs a steady stream of financial support.
That is, at the end of the road, Jia Yueting threw his hope on the Middle East tyrants, and he was the richest in the world with a piece of cloth on his head!
In recent years, Middle Eastern tycoons have also had a special interest in building cars, and many car companies have already received investment from them.
However, although Jia Yueting's FF has also reached a cooperation to deploy its AI tram in Abu Dhabi, the capital of the United Arab Emirates, Jia Yueting has many opponents in the Middle East.
The blue ocean of the Middle East has long been targeted by more new energy vehicle companies.
Just one day before the FF Middle East strategy conference, BYD opened a new flagship showroom in Dubai, UAE, and officially launched the pure electric model Han to the UAE market.
As early as June 20 this year, NIO also received a strategic investment of about US$1.1 billion from Abu Dhabi**.
In addition, the Kingdom's Ministry of Investment has invested US$5.6 billion in Human Horizons, the parent company of Gaohe Automobile.
Many car companies, including Xpeng, Zeekr, Aiways and Nezha, have already entered the Middle East market, although these brands are not direct opponents of FF, but it is certain that those Middle Eastern investors and consumers are choosing more and more.
To say that this time Faraday Future bravely entered the Middle East, can the local tyrants of the UAE give full play to their banknote ability to bring more orders to Boss Jia?
Or can Boss Jia rely on the Middle East market to come back to life?
It's really hard to say, because one of the important reasons is that the FF is so slow to build cars.