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As the founder of LeTV and LeTV Auto, Jia Yueting was once a well-known figure in the domestic Internet field. As early as 2014, he founded LeEco Automobile. LeEco's mission is to continue to innovate and disrupt to create the most advanced super cars on the planet. Although LeEco failed, Faraday Future, founded by Jia Yueting, was successfully listed on the NASDAQ in July 2021. However, Faraday Future has recently faced the risk of delisting, and the news of the stock price ** has made Jia Yueting's plan to return to China slim again.
As early as 2014, Jia Yueting founded LeEco Automobile, which became an important milestone in his career. LeEco has always adhered to the concept of innovation and subversion, and is committed to building super cars. At that time, the development momentum of LeEco Auto was very good, and in 2015, it signed strategic cooperation agreements with well-known car brands such as BAIC Group and Aston Martin. However, due to various reasons, LeEco Auto has not been able to continue its development.
In order to make a comeback, Jia Yueting set his sights on Tesla, a world-renowned electric car manufacturer. He was appointed Global CEO and Chief Product Officer of Faraday Future at the end of 2017 and hopes to leverage the company's leadership in electric vehicles to return to the top of the automotive industry.
Faraday Future is a Los Angeles-based electric vehicle manufacturer with a similar product positioning to Tesla. Jia Yueting hopes to achieve his resurgence in the automotive industry through Faraday Future. However, with optimistic expectations, Faraday Future also faces many challenges.
The ceremony for the first model, the FF91, was held on April 15, 2023, and attracted a lot of attention. The price of this high-end electric SUV has reached 30$90,000 and is considered a contender in the high-end market. However, due to a variety of reasons, Faraday Future's deliveries are currently in the single digits, which is far below expectations. In addition, Faraday Future recently received a notice from Nasdaq about delisting or non-compliance with the listing rules, which made the company face a more serious situation.
Faced with the predicament of Faraday Future, Jia Yueting pinned his hopes on Faraday Future to make a comeback and realize his dream of returning to China. However, the continuation of the company's stock price and the existence of delisting risks have made Jia Yueting's plan to "return to China next week" once again slim.
* According to the report, Faraday Future's share price has been **99% since the beginning of this year, and the market value is only 0.$300 million. This was mainly due to the company's cash shortage. In this case, Jia Yueting issued a document on the last day of 2023 saying that in 2024, he will make every effort to accelerate the new chapter of the dual markets of China and the United States and the third pole of the Middle East. In reality, however, Faraday Future has delivered less than 10 new cars, and Jia Yueting himself is one of the owners.
Faraday Future's challenges cannot be ignored, but at the same time, its technological superiority and potential in the field of electric vehicles cannot be denied. As the leader of the company, Jia Yueting needs to solve the cash flow problem, improve the stock price and develop a more viable development strategy.
With the increasing demand for electric vehicles across the globe, the electric vehicle market has huge potential for growth. As a technologically advanced electric vehicle manufacturer, Faraday Future has the opportunity to become a leader in the industry. However, to achieve this goal, Jia Yueting and Faraday Future still face many difficulties and challenges.
Jia Yueting's entrepreneurial journey with LeEco and Faraday Future has been full of twists and turns. Despite the practical difficulties, Jia Yueting still hopes to realize his personal plan to return to China through Faraday Future. However, to achieve this goal, Jia Yueting needs to overcome many difficulties and challenges, including solving cash flow problems, improving stock prices, and developing a more viable development strategy. In the future, the development potential of the electric vehicle market is huge, and Faraday Future is expected to become an industry leader as a leading technology. Jia Yueting must actively respond to the challenges and bring a brighter future for Faraday.
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