By Zhang Fei
Edited by Li Xin
The 'boy who cried wolf' story about FF told by Jia Yueting has recently seen a new twist.
The trigger occurred last month, less than three months after Faraday Future (hereinafter referred to as “FF”) went public. The automaker founded by Jia Yueting was targeted by a short-selling firm. On October 7, J Capital Research (“JCAP”), a U.S.-based short-seller, released a 28-page report on FF, expressing doubts based on field visits and research across multiple financial data points such as production capacity, capital operation performance, and R&D investment status. It stated that “the company would need an additional $1.4 billion in cash by 2024 to achieve its financial goals,” ultimately concluding that “FF cannot sell even one car.”
This made Jia Yueting restless. The day after the incident, he responded on his personal media account, calling the report “rehashing old news, nonsense,” and mentioned that JCAP had been proven wrong before.
However, this “rehashed cold rice” did not cool down. A month later, on November 15, FF submitted a report to the U.S. Securities and Exchange Commission (SEC), stating that it would delay the release of its third-quarter financial report because the internal investigation regarding the allegations in the short-selling report was not yet completed.
Despite being shorted, FF’s stock price rose instead of falling. By the close of trading on the 15th, FF's stock price surged over 7%.
However, in the past...