At the beginning of July of this year, Jia Yueting resigned from all positions in LeTV.com and flew to the United States, saying that he would solve the "most realistic problems facing him" - seeking a new round of financing for the future of Faraday Future (FF). Immediately after mass production went public, five months later, the FF financing situation that has received much attention seems to usher in new progress.
According to relevant media reports recently, Jia Yueting’s lawyer team is drafting the company’s A round of financing investment agreement. The investment is currently at the stage where the "intention has been set but the word has not been signed and the funds have not arrived."
Regarding this, some analysts who declined to be named told the "Securities Daily" reporter that although the investment intention has already existed, everything is still not a definite number before the funds have arrived.
At the same time, FF founders and core management teams have re-emerged when the financing results have not yet been determined. According to sources, Richard Kim, a member of Faraday's future founding team and vice president of design, has already submitted his resignation.
As the main model designer of Faraday's first mass production model FF91, if Richard Kim left the news, it means that the FF executive team will have only three remaining members.
In response, the above analysts believe that FF is rapidly emptied, and the current test is "huge."
Funding funds have not yet been paid
On December 4, media reports said that Jia Yueting’s lawyer team is currently drafting a company A round of financing investment agreement in Hong Kong, but did not disclose the identity of investors and the valuation of this round of financing.
As of this writing, neither Jia Yueting nor FF has responded to this news. In fact, the reporter noticed that after the FF91 electric vehicle road test video was reposted on Weibo on November 14, Jia Yueting had no public development.
What is worth noting is that in September of this year, news of FF financing was frequently reported to newspapers. Jia Yueting has repeatedly approached investors in the United States and Hong Kong, including many world-renowned companies and institutions.
In November, it was reported that FF had received $900 million in financing from India’s Tata Group, which accounted for 10% of the shares. Although later confirmed that the investment does not exist, but the relevant person in charge of Faraday future said that the company's A round of financing is ongoing, some news will be announced for the first time.
Faraday's future financing results will obviously have a direct bearing on whether its first production model, the FF91, can be delivered in volume. A number of investors told reporters that FF's financing should have entered the financing adjustment and finalization phase, "I believe it will be very soon."
Regarding this financing situation, some FF insiders stated that “this round of financing progress has been kept strictly confidential and there are only a handful of insiders in the company.” In his opinion, “the possibility of this negotiation is very high”. However, some analysts who declined to be named said in an interview with reporters that everything is still not definitive before the funds have been paid.
FF91 designer resigned
In addition to financing issues, the situation of FF's senior management team is not optimistic.
It was reported this week that Richard Kim, the main designer of Faraday's first mass production model FF91, has submitted his resignation. Up to now, Faraday has not yet responded to this news in the future. Richard Kim is still on the list of executives on his official website.
According to public information, before joining Faraday's future, Richard Kim led Audi, Bentley, and Porsche Special Design Team at the California Volkswagen Group Design Center. In 2008, Richard Kim was one of the chief designers of the BMW i team. He designed the BMW i3 and conducted conceptual design for the BMW i8 and i8 Spyder.
If the resignation is true, it means that FF's senior management team will have only three people remaining, namely Nick Sampson, senior vice president of R&D and engineering, Dag Reckhorn, senior vice president of global manufacturing, and Peter Savagian, vice president of power systems.
In the list of senior executives listed on the FF official website before, CFO Stefan Krause and CTO Ulrich Kranz were “dismissed” in November; in addition, in August, Flanyi’s future vice president of human resources, Alan Cherry, left; In October, Tom Wessner, senior vice president of global supply chain, left.
Therefore, some media claimed that "Faraday is becoming a shell company in the future." The above-mentioned analyst told reporters that Faraday is facing tremendous pressure in the future.

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