According to the Tianyancha app, recently, Jia Yueting, founder, Chief Product and User Ecology Officer (CPUO) of Faraday Future (FF), added a new equity freeze information. The enterprise whose equity is executed is Beijing Baile Culture Media Co., Ltd., and the amount of frozen equity is 1.485 billion yuan. The freezing period is from March 31, 2023 to March 30, 2026. The execution court is Beijing Financial Court.

　　Screenshot of Tianyancha APP

　　It is understood that Jia Yueting's equity in the company has been frozen multiple times before. At present, there are multiple frozen equity and executed person information under Jia Yueting's name, with a total of over 4.23 billion yuan executed. In addition, there are multiple consumption restriction orders and information on the final case under its name, with a total outstanding amount exceeding 9.24 billion yuan.

　　Just over a decade ago (March 30th), FF, founded by Jia Yueting, officially announced the start of production (SOP) of FF 91 Futurist Alliance. It is reported that the FF 91 Futurist is FF's first mass-produced flagship model and is expected to be sold in the US and Chinese markets. Jia Yueting said when attending the mass production ceremony, "After nine years of suffocation for dreams, FF will quickly restore its due market value.".

　　The "dream" referred to by Jia Yueting began in 2014. At that time, Jia Yueting established FF and headquartered it in California, USA. In January 2017, its first mass-produced model, the FF 91, made its global debut in Las Vegas, USA; In July of the same year, Jia Yueting, who was deeply in financial crisis, resigned from all his positions on LeTV and flew to the United States to seek a round of $1 billion financing to quickly put FF91 into production and go public. In the following years, Jia Yueting went from "returning to China next week" to never returning, eventually becoming a "veteran of the automotive industry"; FF91 underwent several ticket jumps and only announced its official mass production after six years.

　　Next, Jia Yueting also gave a clear plan for the future development direction of FF: "Our first stage goal is to deliver the revolutionary FF 91 Futurist Alliance, FF 91 Futurist, and FF 91 to global top users on time, with high quality, and unparalleled product strength, to achieve the subversion of traditional ultra luxury car brands and quickly achieve the goal of being the first in the global super top user market

　　Jia Yueting stated that the second stage goal is to launch subsequent models, achieve explosive sales growth as soon as possible, rapidly increase travel ecological income, and form a scale, becoming a leader in the top market; The third stage goal is to achieve sustained and rapid growth in intelligent terminal sales, and explosive growth in ecological (including software, internet apps, and sharing) revenue. FF's ecological revenue accounts for an increasingly high proportion of total profits, becoming one of the leading companies in the mainstream high-value user market and continuing to consolidate its leading position in the top tier market.

　　Indeed, FF 91 Futurist has successfully stepped out of the PPT stage, and Jia Yueting has a plan in mind. However, netizens seem not to buy it: "If you push out a car body, it's called mass production." "Your creditors are almost suffocated by you, please pay back the money you owe first." Some netizens even bluntly say, "Mass production can make money? China has already blossomed everywhere, and it is estimated that it will take another nine years to suffocate

　　In fact, whether in the current US market or the Chinese market, new car manufacturers are facing a brutal market "elimination race".

　　According to a recent report by American Automotive News, out of the 10 new car manufacturing forces it investigated, only 4 have enough cash on hand to cover operating expenses for a year or more; According to the latest documents provided by the US Securities and Exchange Commission (SEC), only a few companies can pay for cash consumption for more than two years. Compared to the high light period in 2020, the optimism in the electric vehicle startup market has significantly declined.

　　In the Chinese market, during the peak period, there were over 300 new power brands, including NIO, Xiaopeng, Ideal and other new car manufacturing forces. Later, traditional brands gradually gained strength, and in addition, electrical and logistics enterprises crossed the border. But with the waves sweeping through the sand, most brands have failed halfway, and even brands like Qiantu and Byton cannot escape the fate of being eliminated. Entering 2023, the "new and new" forces are still entering the market, and the knockout rounds have become increasingly brutal, with Weima and Tianji Motors hovering on the edge of the market.

　　In this context, can the delayed FF 91 Futurist be favored by the market? When can Jia Yueting stop suffocating his dreams? There is still time to provide an answer.