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The investment dispute between Evergrande and FF was written into 301 investigation report by the United States
A few days ago, the United States Trade Representative Office (USTR) released the latest update of the 301 survey report, and the investment dispute between Faraday Future (FF) and Evergrande was also on the list.
In November last year, Evergrande Health invested in Faraday Future with a proportion of 45%, and the transaction was completed in June this year. "Faraday, headquartered in Southern California, is seeking to produce high-end electric vehicles to compete with Tesla in the future. Hengda's intention to focus on technology acquisition is obvious."
The report also cited Evergrande's latest semi annual report, which listed the situation of FF and its significance for Evergrande's diversified operation, and emphasized that FF operating in China and the United States had obtained 380 patents.
The report said, "At present, there is still a big gap between the domestic technology of China's electric vehicle technology and that of international leading enterprises. The acquisition of major players in industries such as FF will help Evergrande synchronize with the world's leading technology research and development, thus helping China achieve the goal of becoming a powerful automobile manufacturer."
The report also specifically mentioned the recent disputes between Evergrande and Faraday in the future. After Evergrande made the first payment of 800 million dollars to Faraday in the future, the two sides fell into a struggle. Faraday believes that Evergrande's refusal to pay has caused the company's financial dilemma, and its real purpose is to control the ownership of FF.
As for the contents stated in the report, according to the people close to Evergrande, Evergrande's investment FF is a purely commercial act, which is reported for approval in accordance with the relevant legal procedures in the United States. On March 9, 2018, Evergrande Health submitted an application to the U.S. Foreign Investment Commission (CFIUS) and was officially approved by CFIUS on June 18.
As of press release, Faraday Future has not responded to the reporter of China Business News. However, some industry insiders said to the reporter of China Business News News: "It was investigated by 301 and named by the US government. It is hard to say whether Faraday's future will be good or bad. After all, Jia Yueting is a Chinese, and the US government uses FF to talk about things, which makes boss Jia" not a man inside or outside " (Reporter Zhang Xinchen also contributed to this article)
Editor in charge: Liu Wanli SF014
