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FF U.S. headquarters test laboratory Source: FF official

The recently launched partnership program has also become a key part of the FF financing plan.

At the creditors’ meeting and after the hearing, Jia Yueting repeatedly emphasized with creditors that before submitting an application for personal bankruptcy and reorganization, he made a detailed calculation of the distribution of about 40% of his FF shares and his income rights: The FF equity that is about to be transferred to the creditor’s trust has a special share income right, and the total income of this part of equity far exceeds the income that FF global partners will receive, which is expected to account for about 70% to 80% of the original FF equity income.

Jia Yueting said that although the production process of FF91 has been slowed down due to funding problems in the past two years, the FF core team has continued to iterate and evolve the product technology of FF91, “to ensure that FF91 is still far ahead in the global smart car field.”

It is undeniable that FF91 has indeed been recognized by the industry. An investor who has visited FF91 in the United States commented that he believes that FF is still a relatively reliable project in general. Another investor who was close to Jia Yueting also judged: “If FF can achieve the first batch production and offline at the beginning of 2019, there should still be a good chance.” But the actual situation is that the FF will soon move towards 2020 Not on schedule for mass production.

Jia Yueting: FF 91 will be mass-produced in China and will return to China after bankruptcy and reorganization is completed

FF First Global Supplier Summit Source: FF Official

On November 26, the new CEO Bi Fukang gave a timetable. The latest mass production time is set to 2021, but which model is still unknown. He also said that FF does not rely on selling cars to make money, but as Jia Yueting planned for LeEco at that time, mainly based on the Internet ecology and making money by expanding services.

This doesn’t sound like a clear future. But for creditors sitting on the same boat as Jia Yueting at this time, there seems to be no choice but to believe him.

The following is an excerpt from Jia Yueting’s creditor hearing:

Trustee : What company is LeHolding? What assets are there?

Jia Yueting