As Faraday's stock price continues to plummet to $1 in the future,”distraught” Jia Yueting came out and publicly “shouted” again.

Since August,Faraday's stock price will continue to “decline” in the future.As of the latest,FF has fallen to $1.05, with a market capitalization of $224.8 billion. There has been a cumulative decline of more than 96% during this period.

Regarding this, Jia Yueting recently stated,FF experienced its darkest hour, and the “collapse” of its stock price and market value left him extremely disappointed and saddened. But other than funding, FF is at its best.

6 major initiativesSafeguarding shareholder interests

On October 16, Jia Yueting issued an open letter to all shareholders and investors. He stated that FF's six major initiatives resolutely defend shareholders' interests, and announced the company's top 30 developments since the end of 2022.

In the public video, Jia Yueting said that although the company has successfully reached one major milestone after another, it has provided a solid foundation for business development,However, stock prices and market capitalization have experienced the darkest hour. The company's market value has dropped to less than 1% of the total cash investment of more than 3 billion US dollars.He is extremely saddened and disappointed by this, and I believe all shareholders who love the company, including public investors, are also extremely saddened and disappointed.

Currently, FF is formulating a series of measures.Identify and combat potential abuses and illegal short selling. On the other hand,FF is making every effort to bring in institutional investors and strategic investorsResolve capital issues as soon as possible, vigorously push production to rise, and at the same time make every effort to improve the company's supply chain management capabilities and overall cost control capabilities, and a series of efforts to enhance the company's value.

Jia Yueting said that FF is making efforts to restore market confidence and accelerate the achievement of strategic goals, including taking the following actions to restore market confidence as quickly as possible:

1. FF has officially partnered with Shareholder Intelligence Services LLC to launch an investigation into potential illegal short selling.
2. Company leaders plan to increase their holdings, demonstrating their confidence in the company's development.
3. The company continues to actively engage with potential strategic investors.
4. The company is undergoing an organizational upgrade to meet the opportunities and challenges of the company entering a new stage of development.
5. The company is continuing to take steps to reduce operating and supply chain costs to support its strategic goals, including increasing production capacity.
6. The company plans to invite professional media to visit, interview, and experience products and technology in depth at FF, so that the general public can better understand the development status of FF and its true value.

Jia Yueting also revealed,He is actually most anxious about the serious divergence between the real value of FF and the value of the capital market. He is deeply ashamed that it has not brought due value and return to all shareholders and investors. He also wants to make every effort to maximize the value of FF.

“Nine years ago, I traveled thousands of miles across the ocean to Los Angeles, California, and founded FF, ALL IN everything. You can imagine how difficult it is for Chinese people to start a business in the US, especially in the “Extreme Intelligence Technology Top Luxury” AI tram industry, which is known as the jewel in the crown, and it is extremely difficult. I have experienced all the worst things you can imagine and can't imagine. The company and I have experienced and overcome so many difficulties and life and death challenges over the years. Our setbacks and our successes are all obvious to all.”

Finally, in an open letter, he revealed his feelings and stated:

“Thank you to those who care about FF and have always supported me. In fact, many people have sent me private messages through various channels. I have watched them, reflected and tortured myself, absorbed, listened to, and implemented good suggestions. Many entrepreneurs say that my entrepreneurial experience has always inspired them to never give up and persevere. Actually, I want to say that the many words of encouragement you have sent me have also silently infected and inspired me, making me and FF work tirelessly to maximize value for all shareholders and stakeholders. ”

The latest video letter also said this

Jia Yueting:Dear FFIE shareholders and investors, hello everyone.

Since August, as FF has entered the delivery revenue stage, the company has formed a complete closed loop of operation from user acquisition to delivery to user operation. More and more US industry leaders and top celebrities such as Chris Brown, Derek Bell, and Jason Oppenheim have successively become co-founders of FF car owners and developers.

FF's business fundamentals have fundamentally changed, and the new management team is also the strongest team in FF history. In addition to being limited by capital conditions, the company is in the best stage of development since it was founded 9 years ago, and it is a critical period for business to take off.

Although the company has successfully reached one major milestone after another, providing a solid foundation for business development,However, stock prices and market capitalization have experienced the darkest hour. The company's market value has dropped to less than 1% of the total cash investment of more than 3 billion US dollars.We are extremely saddened and disappointed by this, and believe all shareholders who love the company, including public investors, are also extremely saddened and disappointed.

The company is developing a range of measures to identify and combat potential abuses and illegal short selling. On the other hand, we are making every effort to bring in institutional investors and strategic investors, resolve capital issues as soon as possible, vigorously promote a rise in production, and at the same time make every effort to improve the company's supply chain management capabilities and overall cost control capabilities, as well as a series of efforts to enhance the company's value.

Here is a series of actions we have taken to protect shareholders' interests, restore market confidence as quickly as possible and accelerate the achievement of strategic goals:

1. FF has officially signed Shareholder Intelligence Services LLC, a leading public company service provider, to obtain, aggregate, track, and analyze shareholder transaction information and investigate potential illegal short selling practices. We will consider all available recovery measures, including lawsuits.
2. The increase in the company's core level shows firm confidence in the company's development.
3. The company continues to make every effort to actively attract potential strategic investors.
4. FF is undergoing an organizational upgrade to meet the opportunities and challenges of the company entering a new stage of development.
5. The company is continuously reducing operating and supply chain costs to achieve all of its strategic goals, including rapidly increasing production capacity.
6. The company will invite a large number of professional media to visit and interview FF, experience products and technology in depth, so that outsiders and investors can better understand FF's development status and real value.

Compared to today's FF before August this year, there has been a qualitative change. The company has solved two of the most risky and uncertain issues since its inception, and achieved two of the most important milestones:

(1) Completed all compliance certifications prior to delivery of new vehicles in the US

(2) The complete parts supply system required for vehicle delivery has been completed, and delivery to users has begun. We believe FF has entered the best stage of development (limited by the availability of funding).

From the end of 2022,The partner company nominated the majority of directors to the board of directors. Over the past 9 months, FF has made 30 major advances.

We firmly believe that, apart from capital, FF already has almost all the foundations for value explosion. We have defeated Darkest Hour many times, and FF has now achieved 30 results. With unique genes and the support of all shareholders, we are convinced that an amazing burst of energy is imminent.

However, we are very disappointed and saddened that FF, as the only founder and leader of the “Extreme Technology Top Luxury” top market, has created and delivered the world's most transformative “All-Ability AIHypercar” and has made so many significant developments, yet the stock price, market value, and real value of the company have shown a complete divergence. This is unacceptable to all shareholders who love FF, and I have received many requests for the company to respond. I have personally received unfair accusations and even threats, but despite this, we are still persevering and wholeheartedly committed to making FF a great company.

I am actually most anxious about the serious divergence between the real value of FF and the value of the capital market. I am deeply ashamed that it has not brought due value and return to all shareholders and investors. I also most hope to make every effort to maximize the value of FF.

Nine years ago, I traveled thousands of miles across the ocean to Los Angeles, California, and founded FF, ALL IN everything. You can imagine how difficult it is for Chinese people to start a business in the US, especially in the “Extreme Intelligence Technology Top Luxury” AI tram industry known as the jewel in the crown. It is also extremely difficult. I have experienced all the worst things you can imagine and can't imagine. The company and I have experienced and overcome so many difficulties and life and death challenges over the years. The setbacks we have experienced and the successes we have achieved are all obvious to all.

Here, I would like to sincerely thank those who care about FF and have always supported me.In fact, many people send me private messages through various channels. I watch them, reflect and torture myself, absorb, listen to, and implement good suggestions.

Many entrepreneurs say that my entrepreneurial experience has always inspired them to never give up and persevere. Actually, I want to say that the many words of encouragement you have sent me are silently infecting and motivating me, making me and FF work tirelessly to maximize value for all shareholders and stakeholders.

Thanks again for having you along the way.

Here's a recap of the 30 major improvements:

End of 2022

Governance layer: The board of directors was replaced by a top level of governance that aims for legal compliance and best due diligence.

Strategy: Focus comprehensively on the company's core strategy as the founder of the “Extreme Technology Top Luxury” tower market.

Business: Complete end-to-end reorganization of the FF 91 2.0 Futurist Alliance delivery system.

January 2023

China and US Dual Gene Dual Home: Announced the signing of a non-binding cooperation framework agreement with the Huanggang government in China to advance the company's dual home strategy.

February 2023

Capital and finance: Secured a funding commitment of $135 million.

2023 March

Production: FF IEFactory California implements SOP.

April 2023

Production: FF 91 2.0 Futurist Alliance's first mass-produced car goes offline.

2023/5

Technology & Products: New breakthroughs have been made in the field of emerging GPT AI technology, and the world's first automotive generative artificial intelligence products and technologies have been released.

Officially launched and announced the “All-Ability AIHyperCar,” which successfully created the transformative “FF AIHyper 6x4 Architecture 2.0” technology architecture, based on the “All-AI, All-Hyper, All-Ability, and Co-Creation” trend of industrial transformation and transformation, and the “Extreme Intelligence Technology Top Luxury” technology architecture. FF 91 2.0 Futurist Alliance integrates Hyper performance and safety , the core characteristics of the three aspects of comfort.

Capital: Signing the final agreement on unsecured convertible bonds with 100 million US dollars of financing (capital injection is subject to certain settlement conditions; approximately 30 million US dollars of financing has been received, exempted from delivery conditions, demonstrating investors' confidence and support for the company), Faraday Future announced 100 million US dollars of financial capital with senior partners as the cornerstone investors.

June 2023

User Ecology: The first batch of 3 car owners and developers and co-creators participated in the “FF Track Co-Creation Day”

Product and technology: FF 91 2.0 Futurist Alliance debuted at Willow Springs and broke the record for the fastest lap speed in the electric vehicle class of 6,000 pounds or more in 1 minute and 35 seconds.

Capital: Funding of $105 million, including a new commitment of $90 million and early disbursement of an old commitment of $15 million; part of the $105 million has already been paid, and the rest still needs to meet certain settlement conditions.

July 2023

Delivery compliance: Completed US crash tests and certification requirements for all safety-related regulations.

Complete all US new vehicle sales delivery compliance work.

Complete internal approval to initiate the second phase of co-creation delivery.

The company formed a closed loop of operation and entered a new stage of development.

August 2023

Supply chain: Complete the supply of all parts for the first batch of deliveries.

User ecosystem: Complete the construction of a transformative user acquisition and user operation 1.0 system.

The FF 91 2.0 Futurist Alliance was delivered to the first tower spire user and developer co-creator in FF history.

Top race champions such as five-time Le Mans champion Derek Bell and Justin Bell became the developer's co-founder and the next car owner.

The first “FF Developers Co-Creation Festival” was held at the Pebble Beach Luxury Auto Show.

Capital: Additional funding of $16.5 million was obtained through unsecured notes to support the second phase delivery and sales and service preparations of the company's FF 91 2.0 Futurist Alliance; implemented a reverse stock split and submitted a registration statement to open up the company's financing channels to support the mass production rise of FF 91 2.0 Futurist Alliance and the development of the sales and service network.

Management: The strongest management in the nine years since the company was founded took office.

September 2023

User Ecology: FF delivers new cars to top users, including US real estate agent tycoon Jason Oppenheim.

Product: FF 91 2.0 Futurist Alliance sets new lap speed records for SUVs and crossovers at Button Willow.

Technology: Held the “FF 919 Developers AI Co-Creation Festival” to promote the progress of FF AiRacing technology

Capital: FF regains NASDAQ compliance.

Launch a core management stock purchase program.

October 2023

User Ecosystems: New cars will be delivered to four new tower spire users and developers, including global music superstar Chris Brown.