Hohhot gives aid to Jia Yueting only for the ill-fated FF to keep silent about the cooperation in building cars.-Shanghai Metals Market

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Hohhot gives aid to Jia Yueting only for the ill-fated FF to keep silent about the cooperation in building cars.

Translation 09:00:02AM Jun 12, 2019 Source:Securities Daily

SMM News: so far, Jia Yueting's last Weibo is still in April 11 this year. "just as I am trying to learn English skills, the supercomputing platform of the new species FF91 is constantly learning and iterating to adapt itself to the needs of every user. We are witnessing the birth of this disruptive technology. " He wrote so.

Two months later, Jia Yueting's Faraday Future (hereinafter referred to as FF) has made new progress in its car-building project with the ninth city.

On June 10, the ninth city announced that it had signed a memorandum of understanding on strategic cooperation with the Office of the Development leading Group of the Shaerqin Industrial Zone of the Hohhot Economic and technological Development Zone (hereinafter referred to as the "Memorandum"). The two sides will carry out strategic cooperation on the settlement and development of the new energy vehicle joint venture company jointly established by FF and the ninth city in the Schalqin industrial zone. It is reported that the joint venture is expected to produce 300000 smart electric vehicles a year and will achieve mass production by 2020.

FF silent response to collaborative car building

According to the Memorandum, the Hohhot Schalqin Industrial Zone will reserve not less than 5000 mu of land supply for the joint venture project and support the joint venture company in obtaining the qualification for the production of new energy passenger vehicles. At the same time, the ninth city and the Schalqin Industrial Zone of Hohhot will jointly set up a new energy industry fund. The ninth city and its subordinate enterprises will contribute not less than 500 million yuan (including funds for the purchase of industrial land and commercial land). The government contribution is not less than 1.5 billion yuan (including financial subsidies, infrastructure, other commercial supporting construction, etc.).

To this end, the reporter immediately contacted FF sources, according to its said: "Nine cities as listed companies, all project details to listed companies, we are not convenient to disclose more."

It is worth mentioning that the reporter noted that the "memorandum" signed by the two sides is only the intention stage, has a great deal of uncertainty, and does not have the validity of the contract. Jiucheng also said that the introduction of mature FF technology into China can make a positive contribution to the development of China's new energy industry. The two sides will try their best to reach an agreement within the agreed period.

In response to the Shaerqin Industrial Zone, which may be responsible for coordinating 4 billion yuan in financing loans for new energy projects, local industrial funds and banks are recommended to give interest-free, discount or low-interest loan support, some analysts said. At least the above-mentioned scale of investment needs to be approved by the provincial SASAC. According to the different regulations of each province, it is also possible to invite third-party experts to comment, and the examination and approval process will be very rigorous.

As a Beijing-Tianjin-Hebei industrial transfer area, Hohhot will develop high-end equipment manufacturing, new energy vehicles and other fields as the direction of future development. The reporter noted that in the overall plan of the Shaerqin Industrial Zone of the Hohhot Economic Development Zone, the leading industries from 2013 to 2030 included the new energy and equipment manufacturing industry. Its most recent car project was in 2018.

According to public information, last year, Kaiwo New Energy vehicle Group signed strategic cooperation with the Hohhot Municipal people's Government on the new energy vehicle industry project, and plans to invest 5 billion yuan in the high-tech industrial development zone to build a series of new energy vehicle industrial projects, forming an annual production scale of 10, 000 large and medium-sized electric buses and 100000 electric logistics vehicles, and building high-end demonstration projects in western China and "Belt and Road Initiative."

Some industry insiders said that some local governments are eager to introduce manufacturing projects that can upgrade the local economy and industrial chain, which made Huatai, Chery and other car companies circle hundreds of millions of yuan worth of coal mines and large land resources from a local government in the early years. However, the previously promised post-completion income, local tax payment, and settlement of the employment population have rarely been fulfilled. Stop and look back, that year in the new energy investment tuyere of a major investment province, nearly half of the new energy vehicle projects have long been shut down.

FF is ill-fated

As the other side of the cooperation, Jia Yueting led by FF is ill-fated, in 2017 and 2018 respectively after receiving the domestic well-known real estate developers Rongchuang and Evergrande to help, there are still no mass production models.

It is reported that at present, there are more than 300 office staff in the Los Angeles office area of FF, and more than 400 people are on leave without pay. Since completing its global debut on January 4, 2017, FF91 is still in a state of testing. FF executives have said: "every day, FF91 test vehicles will be arranged to drive on the road for a while, which can also be displayed at the same time as the test task."

Until March this year, indomitable Jia Yueting on the other side of the ocean once again ushered in a new "white knight"-FF announced the formation of a joint venture in the ninth city of the Internet company, which will inject up to $600m into the joint venture in three phases. FF, on the other hand, provides the joint venture with the relevant property rights and resources, including land use rights in China as a production base, and will grant the joint venture an exclusive license to manufacture, market, distribute and sell the new FF brand V9 in China, including subsequent licensing of agreed models.

Subsequently, the ninth city in the domestic new energy field began to layout. On May 27, the ninth city announced the establishment of a joint venture between its subsidiary and Shenzhen Yipu Technology Co., Ltd., a provider of charging equipment and operating platforms for electric vehicles. According to the joint venture agreement signed between the two sides, Nine cities will take a cash stake of 80 per cent of the joint venture, while EN+ Technology will invest in the joint venture at the price of proprietary technology, accounting for 20 per cent of the joint venture.

Key Words:  Car  battery  Jia Yueting  FF 

Hohhot gives aid to Jia Yueting only for the ill-fated FF to keep silent about the cooperation in building cars.

Translation 09:00:02AM Jun 12, 2019 Source:Securities Daily

SMM News: so far, Jia Yueting's last Weibo is still in April 11 this year. "just as I am trying to learn English skills, the supercomputing platform of the new species FF91 is constantly learning and iterating to adapt itself to the needs of every user. We are witnessing the birth of this disruptive technology. " He wrote so.

Two months later, Jia Yueting's Faraday Future (hereinafter referred to as FF) has made new progress in its car-building project with the ninth city.

On June 10, the ninth city announced that it had signed a memorandum of understanding on strategic cooperation with the Office of the Development leading Group of the Shaerqin Industrial Zone of the Hohhot Economic and technological Development Zone (hereinafter referred to as the "Memorandum"). The two sides will carry out strategic cooperation on the settlement and development of the new energy vehicle joint venture company jointly established by FF and the ninth city in the Schalqin industrial zone. It is reported that the joint venture is expected to produce 300000 smart electric vehicles a year and will achieve mass production by 2020.

FF silent response to collaborative car building

According to the Memorandum, the Hohhot Schalqin Industrial Zone will reserve not less than 5000 mu of land supply for the joint venture project and support the joint venture company in obtaining the qualification for the production of new energy passenger vehicles. At the same time, the ninth city and the Schalqin Industrial Zone of Hohhot will jointly set up a new energy industry fund. The ninth city and its subordinate enterprises will contribute not less than 500 million yuan (including funds for the purchase of industrial land and commercial land). The government contribution is not less than 1.5 billion yuan (including financial subsidies, infrastructure, other commercial supporting construction, etc.).

To this end, the reporter immediately contacted FF sources, according to its said: "Nine cities as listed companies, all project details to listed companies, we are not convenient to disclose more."

It is worth mentioning that the reporter noted that the "memorandum" signed by the two sides is only the intention stage, has a great deal of uncertainty, and does not have the validity of the contract. Jiucheng also said that the introduction of mature FF technology into China can make a positive contribution to the development of China's new energy industry. The two sides will try their best to reach an agreement within the agreed period.

In response to the Shaerqin Industrial Zone, which may be responsible for coordinating 4 billion yuan in financing loans for new energy projects, local industrial funds and banks are recommended to give interest-free, discount or low-interest loan support, some analysts said. At least the above-mentioned scale of investment needs to be approved by the provincial SASAC. According to the different regulations of each province, it is also possible to invite third-party experts to comment, and the examination and approval process will be very rigorous.

As a Beijing-Tianjin-Hebei industrial transfer area, Hohhot will develop high-end equipment manufacturing, new energy vehicles and other fields as the direction of future development. The reporter noted that in the overall plan of the Shaerqin Industrial Zone of the Hohhot Economic Development Zone, the leading industries from 2013 to 2030 included the new energy and equipment manufacturing industry. Its most recent car project was in 2018.

According to public information, last year, Kaiwo New Energy vehicle Group signed strategic cooperation with the Hohhot Municipal people's Government on the new energy vehicle industry project, and plans to invest 5 billion yuan in the high-tech industrial development zone to build a series of new energy vehicle industrial projects, forming an annual production scale of 10, 000 large and medium-sized electric buses and 100000 electric logistics vehicles, and building high-end demonstration projects in western China and "Belt and Road Initiative."

Some industry insiders said that some local governments are eager to introduce manufacturing projects that can upgrade the local economy and industrial chain, which made Huatai, Chery and other car companies circle hundreds of millions of yuan worth of coal mines and large land resources from a local government in the early years. However, the previously promised post-completion income, local tax payment, and settlement of the employment population have rarely been fulfilled. Stop and look back, that year in the new energy investment tuyere of a major investment province, nearly half of the new energy vehicle projects have long been shut down.

FF is ill-fated

As the other side of the cooperation, Jia Yueting led by FF is ill-fated, in 2017 and 2018 respectively after receiving the domestic well-known real estate developers Rongchuang and Evergrande to help, there are still no mass production models.

It is reported that at present, there are more than 300 office staff in the Los Angeles office area of FF, and more than 400 people are on leave without pay. Since completing its global debut on January 4, 2017, FF91 is still in a state of testing. FF executives have said: "every day, FF91 test vehicles will be arranged to drive on the road for a while, which can also be displayed at the same time as the test task."

Until March this year, indomitable Jia Yueting on the other side of the ocean once again ushered in a new "white knight"-FF announced the formation of a joint venture in the ninth city of the Internet company, which will inject up to $600m into the joint venture in three phases. FF, on the other hand, provides the joint venture with the relevant property rights and resources, including land use rights in China as a production base, and will grant the joint venture an exclusive license to manufacture, market, distribute and sell the new FF brand V9 in China, including subsequent licensing of agreed models.

Subsequently, the ninth city in the domestic new energy field began to layout. On May 27, the ninth city announced the establishment of a joint venture between its subsidiary and Shenzhen Yipu Technology Co., Ltd., a provider of charging equipment and operating platforms for electric vehicles. According to the joint venture agreement signed between the two sides, Nine cities will take a cash stake of 80 per cent of the joint venture, while EN+ Technology will invest in the joint venture at the price of proprietary technology, accounting for 20 per cent of the joint venture.

Key Words:  Car  battery  Jia Yueting  FF