Jia Yueting is taking off again?
On May 17 local time, Faraday Future (FF)'s share price soared all the way up to US $3.87, up more than 130%. Since then, it began to decline straightly, down 37.58%, closing at $1.03, with a total market value of $43.95 million. When it opened on Monday (May 13), its share price was only $0.048, with a total market value of less than $3 million. in other words, Faraday Future Within five days, the stock price soared more than 20 times, and the highest increase was once more than 80 times.
Faraday Future (FF) shares closed at $1.03
According to the China Fund News, market analysis shows that the future stock price of Faraday will soar, which is related to Biden. On May 14, Biden's government announced that it will impose four times the tariff on China's imported electric vehicles, raising the tax rate from 25% to 100%. On the same day, Faraday's future share price soared by 367%. It is reported that, Faraday is the only Chinese background electric vehicle concept stock developed locally in the United States in the future, and may also be the only electric vehicle concept stock that will not be affected by the ban Therefore, it may generate huge M&A value imagination space and attract hot money speculation.
Jia Yueting said in his video that more and more people are aware of the uniqueness and many unique values of Faraday as a bridge between China and the United States in the future automobile industry. Jia Yueting said that on the premise of complying with relevant laws and regulations of the United States, Faraday could help auto companies and supply chains to quickly enter the U.S. market in the future, reduce trial and error and time costs, and hope to have the opportunity to cooperate with Chinese auto companies.
The United States announced Tariff on Chinese EV increased to 100%
Expert: controllable influence
According to the Xinhua News Agency, on May 14, the United States released the results of the four-year review of the additional 301 tariff imposed on China, announcing that on the basis of the original 301 tariff imposed on China, it would further raise the additional tariffs on electric vehicles, lithium batteries, photovoltaic cells, key minerals, semiconductors, as well as steel and aluminum, port cranes, personal protective equipment and other products imported from China.
Specifically, the United States increased the number of photovoltaic cells used to manufacture solar modules from 25% to 50%; Increase tariff on electric vehicles from 25% to 100% ； The tariff on lithium-ion electric vehicle batteries and other battery components was increased from 7.5% to 25%; Tariffs on "certain" key minerals were raised from zero to 25 per cent. The tariffs imposed by the United States on Chinese goods cover many fields, and the effective time varies from 2024 to 2026.
The Biden government announced the imposition of tariffs on China, and the picture shows Biden's information
The drastic action of imposing tariffs by the United States and Canada took place against the background of the substantial growth of China's automobile exports. In 2023, China's automobile export will surpass Japan and become the world's largest automobile export country. Since this year, China's automobile export has maintained a high growth rate. According to the data of the General Administration of Customs compiled by the China Automobile Industry Association, in the first quarter of this year, China exported 455000 new energy vehicles, an increase of 17.2% year on year.
According to the Xinhua News Agency, on May 14, a spokesman for the Ministry of Commerce said that the United States, out of domestic political considerations, abused the 301 tariff review procedure, further increased the 301 tariff imposed on some Chinese products, and politicized and instrumentalized economic and trade issues, which is a typical political manipulation. China is strongly dissatisfied with this. WTO has already ruled that 301 tariff violates WTO rules. Instead of correcting it, the United States is determined to make mistakes again and again. The increase of 301 tariff by the US side violates President Biden's commitment of "not seeking to suppress and contain China's development" and "not seeking to decouple from China", and also does not conform to the spirit of consensus reached by the two heads of state, which will seriously affect the atmosphere of bilateral cooperation. The US side should immediately correct its wrong practices and cancel the measures of levying tariffs on China. China will take resolute measures to safeguard its own rights and interests.
In this regard, Russian President Putin pointed out that the United States recently announced the imposition of tariffs on Chinese electric vehicles, "because Chinese cars are getting better and better, the United States can only engage in this unfair competition, and there is no other reason".
"The US policy of imposing tariffs on Chinese electric vehicles will undoubtedly increase the cost of export business of domestic automobile enterprises in the US market, which may lead to a decline in the competitiveness of some automobile enterprises in the US market. However, The export scale of domestic enterprises to the United States is limited, so the impact is controllable. ”Liu Chunsheng, an associate professor at the Central University of Finance and Economics, told the Daily Economic News.
In 2023, China's exports of new energy vehicles hit a new high, with Europe as the largest market and Asia as the second largest market. According to the data of China Automobile Association, the top two markets accounted for more than 70%, while the North American market accounted for only 13%. In addition, the top three export countries of domestic electric vehicles are Belgium, Brazil and the United Kingdom The United States is not a major market.
Some people believe that the tariff imposed by the United States this time is to force domestic enterprises to move production links out of China, and then force them to invest or transfer technology to the United States. "However, this US tariff adjustment may also prompt domestic auto companies to accelerate the pace of technology upgrading and cost optimization, and find more international markets to balance risks." Liu Chunsheng believes.
Jia Yueting Blames the United States
It is said that "it can help Chinese automobile enterprises enter the American market"
"The United States has imposed four times of tariffs on Chinese electric vehicles, which has affected the normal competition of the global EV (pure electric vehicles) industry. This kind of trade protectionism goes against the tide of economic globalization. Especially, it is a great attack on Chinese EV enterprises that have already had global competitiveness." FF founder, chief product and user ecology officer (CPUO) Jia Yueting said on his personal social platform.
Jia Yueting said FF played a prominent role as a "Sino US automobile bridge"
Jia Yueting said that Faraday could help Chinese auto companies and supply chains to quickly enter the US market in the future.
"More and more people are beginning to pay attention to the uniqueness and many unique values of FF as a bridge between China and the US auto industry. My personal IP and I are also making constant efforts to build a bridge between China and the US for friendship and economy." Jia Yueting said that on the premise of abiding by relevant US laws and regulations, FF can help Chinese car companies and supply chains to quickly enter the U.S. market, greatly reducing trial and error and time costs, and hopes to cooperate with Chinese car companies.
"In the past ten years, we have created an evolving, complete, mature and leading FF aiHyper 6X4 technology architecture 2.0, a leading AI platform, AI Internet application system, vehicle software system, user acquisition and user operation ecosystem that fully adapts to the U.S. automotive industry ecosystem, and completed a leap from zero to one in the U.S. market. Chinese enterprises and supply chain partners who are interested in building a bridge between China and the US auto industry can communicate with us. " Jia Yueting said so.
On the previous April 24, Faraday Future announced that it had received a letter from the NASDAQ Stock Exchange. Because it did not comply with the listing rules of NASDAQ, it would be delisted by NASDAQ, because the closing price of the company's securities was $0.10 or less for ten consecutive trading days. Faraday Future said that the company intended to appeal the delisting decision. Jia Yueting said that "the company is facing a very big risk of delisting, but it has not been delisted, as some media misread.". Jia Yueting said that as the future founder of Faraday, he would do his best with the management to restore compliance and maintain listing qualification.
According to the report of Shenzhen Business Daily on May 16, Faraday said in the future that the sharp rise of its share price this week marks the beginning of the "FF listing qualification defense war" being carried out by founder Jia Yueting, which has given the capital market and the company great confidence.
It is reported that Jia Yueting has built cars for 10 years, and Faraday has delivered a total of 11 cars in the future. According to the official data of Faraday Future, Faraday will only deliver 10 FF91 2.0 Futurist Alliance in 2023, including one owned by Jia Yueting. According to the official disclosure, among the 10 car owners, there are well-known American real estate developers and entertainment stars. On February 7, 2024, Faraday Future and Jia Yueting announced the delivery of a FF91 2.0 Futurist Alliance to the company of Hollywood movie star Morgan Freeman.
In the middle of March, Faraday will file a recall plan with the U.S. Highway Traffic Safety Administration, recalling 11 FF91 2.0 produced in 2023. The reason for the recall is that when the airbag control unit (ACU) detects a system fault, software errors may prevent the airbag fault warning lamp from lighting up, and the driver will not be warned that the ACU has lost communication, If the airbag is correctly ejected during collision, the risk of passenger injury may increase. For the above defects, Faraday will update the iHUB module software through OTA in the future.
In April this year, Jia Yueting said that he had paid more than 10 billion dollars (about 72 billion yuan) of debts in total over the years, and there was no debt under the American legal system. "Even so, I will try my best to settle the debt under the Chinese legal system as soon as possible," Jia said. He also said, "There is an artificial rumor that the accumulated repayment of more than 10 billion dollars by me and the company was paid by FF stock debt trust, which is completely wrong and rumor. In fact, almost all of the more than 10 billion dollars were repaid in cash. In order to raise funds quickly during the repayment process, many assets were sold at low prices and forced auctions. The auction price was less than half of the actual value. ".
"The day when I successfully built the car and paid off the debt is when I returned home," Jia Yueting said.
Enterprise investigation data shows that up to now, Jia Yueting has been executed for more than 1 billion yuan, and the outstanding amount of the final case exceeds 8 billion yuan. From this point of view, Jia Yueting may still have a long way to go home.
Jia Yueting was executed for more than 1 billion yuan
(This article does not constitute an investment proposal, so you should bear the operational risk accordingly)
edit | Duan Lian Du Hengfeng
Proofread| Sun Zhicheng
The daily economic news is integrated from China Fund News, Xinhua News Agency, www.everjing. com, CCTV International News, Jia Yueting's social media, public information, etc
