TU-TESL

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Photo source: visual China on October 11, media reported that FF (Faraday future) chief product and user officer intended to take the initiative to apply for personal bankruptcy reorganization in the U.S. court. According to an application filed by Jia Yueting to the U.S. court, Jia Yueting will transfer all assets to creditors through the creditor trust, which is controlled and managed by the creditor Committee and the trust trustee. This means that the creditor will get all the assets and income right of Jia Yueting in advance, and Jia Yueting will no longer hold the FF equity. In response to this matter, the reporter of daily economic news asked FF China's relevant person in charge for confirmation. The other side said: "the above information is true, but there is no more information to be disclosed at present." In September this year, Jia Yueting resigned as FF CEO and became FF chief product and user officer. Subsequently, FF announced the latest financing, IPO and FF 91 product delivery strategic plan. According to the plan, FF 91 is expected to achieve mass production delivery within 9 months after the successful financing. Meanwhile, FF will achieve IPO within 12-15 months after the completion of financing. In addition, FF also reduced the amount of funds needed for its current stage to $850 million. It is worth noting that since last year's official "break-up" with Evergrande, FF capital has been in trouble and has been looking for financing. The FF 91 mass production delivery plan, which was scheduled to be completed in mid-2019, has also been put on hold. As for the specific time when FF 91 can be listed, the relevant head of FF once admitted to reporters: "when the financing is in place, it can be promoted, and the specific listing time is uncertain. If external financing goes well, FF will achieve IPO in the United States in 2020. "