Can FF still usher in life?

Editor’s note: This article is from “Future Car Daily” (WeChat public ID: auto-time), author: Terence Lee Nan.

Author | Li Yunan

Edit | Liang Chen

On September 3, Faraday Future (“FF”) released Announcement Teng CEO Bi Fukang succeeded Jia Yueting as the global CEO of FF. At the same time, Jia Yueting will resign as the chief product and operation officer of the FF CEO.

FF mentioned in the announcement, Bi Fukang said: “I am very happy to be the global CEO of FF, and look forward to leading the FF global team to the next stage of success. I decided to join FF mainly because of the following three aspects. Reasons: First, Mr. Jia Yueting; second, the leading products and technology of the FF industry; and finally the global partner system.”

In addition, FF announced that it will openly recruit a global chairmanship. According to the data, during this year’s Shanghai Auto Show, Bi Fukang announced that he would resign from the new car company and become the CEO of ICONIQ brand. At the beginning of the establishment of Bitten, Bi Fukang served as CEO and co-founder. Before the bidding, Bi Fukang worked for many years in BMW. He once dominated the i8 project of the BMW electric sports car and was called the “father of i8” by the industry.

FF official said that after taking over the global CEO of FF, Bi Fukang will lead the team to sprint the mass production preparation of the first ultra-luxury intelligent Internet “new species” FF 91 electric vehicle, and complete the next mass production luxury Development of the model FF 81 intelligent electric vehicle.

On August 28th, foreign media Pandaily had report Said FF is launching a restructuring plan, or it will involve the establishment of a joint venture company. The report said that FF said on August 26 that the company is advancing the establishment of a partner system. Under this new management structure, Jia Yueting will set up a trust fund to repay personal debt by pleasing some of the shares of Faraday’s future company that he has mastered.

In addition, Pandaily also quoted Jia Yueting in the report saying that in addition to setting up this personal debt service fund, he will also sell some of his existing shares in FF, but the specific amount has not yet been determined. Faraday future insiders thisIt was revealed that the company’s partner system began planning as early as the end of last year, and the top-level governance structure and management model are nearing completion.

For FF, this personnel change may be the last chance.

In fact, after the breakdown of the relationship with Evergrande, FF has been in the midst of a shortage of funds. In early March 2019, in order to obtain cash flow, FF sold its headquarters building in Los Angeles, purchased by New York real estate company Atlas Capital, and re-leased to Faraday’s future after the transaction was completed. At the same time, FF also publicly sold its land in the Nevada Industrial Park for $40 million.

Jia Yueting resigned as the future CEO of Faraday, and former founder Bi Fukang took over