Could it be that Chinese consumers will ultimately still not escape Jia's big scythe?

After successfully delivering 12 Faraday Future vehicles on June 13th, Jia Yueting officially announced plans to launch a second brand.

For a new carmaker that has been established for ten years, released its first model eight years ago, only sold 12 cars, and owes billions of yuan in domestic debts, claiming to create a second brand is unprecedented and unparalleled in the entire history of human carmaking.

Could it be that this time Jia the accountant is really turning over a new leaf, being pragmatic and seeking survival, or is it yet another "suffocating for dreams" drama?

Is it fake carmaking or real harvesting?

Jia Yueting's original statement was: "FF is considering launching a second brand under the 'Sino-US Automotive Industry Bridge Strategy'. This brand will empower FF's high-value solutions and technology to future mass production models, allowing more ordinary individual investors and ordinary users to enjoy our 'extreme smart technology luxury'."

In response, netizens commented: "Sino-US Automotive Industry Strategic Bridge, high-value solutions, technology empowerment, mass production for the future, extreme smart technology," with only a hundred or so words, every part is ecologically opposed. "Why bother making cars, it's better to go into marketing wordplay."

In fact, what Jia the boss said in plain language is that Faraday Future is no longer content with only harvesting those large investors, but is extending its sharp scythe to the wallets of middle-class consumers.

The "Sino-US Automotive Industry Bridge Strategy" mentioned by Jia the accountant is a brand-new concept he recently proposed.

According to Jia the accountant's official statement, this strategy provides a complete solution for Chinese enterprises aspiring to conquer the US market, empowering them across the entire value chain.

This includes four major empowerment points:

Empowerment of products, technology, research and development, and vehicle engineering systems based on the "FF aiHyper 6X4 architecture2.0," bringing the core technology used in the $300,000 FF91 to mass production models.

Empowerment of FF's complete US-based vehicle manufacturing capabilities at its California factory, including a mature manufacturing team, quality control, product compliance certification, and access systems.

Unique empowerment of user ecosystem construction, including brand, marketing, sales, after-sales, and user acquisition and operation.

Creating global profits for partners while empowering capital value.

In simple terms, FF can provide Chinese automakers with full-chain support from research and development to manufacturing, sales, and even financing. At first glance, the grand blueprint sounds impressive, and onlookers may think FF is a powerful multinational group. However, who would have thought that the one who said this is the originator of PPT carmaking, known as a "scammer" by the Chinese people.

And when Jia the accountant says "launch a second brand under the 'Sino-US Automotive Industry Bridge Strategy,'" it means that this brand is not independently created by FF, nor is it one of the domestic new forces that have already gained some scale. Instead, it is most likely created jointly by those domestic automakers who have no way to build cars but still have "unquenched ambition" and want to go overseas to harvest some profits.

It seems that Wang Sailin from the runaway Sailin Motors in the US and Shen Hui from WM Motor on a business trip to Europe would be Jia the accountant's precise target users.

It has to be said that Jia the accountant's ability to market (or con) is truly top-notch in the industry; every time he strikes right at the core of capital. Seven years ago, it was Sun Hongbin, and now he is aiming at those peers who also "harvest investors." Jia the accountant's vision and thinking are always ahead of the industry.

Can Jia the accountant harvest middle-class investors?

However, let's put aside whether there are any willing partners for the time being. It's hard to believe that FF itself truly has this ability to empower across the entire value chain.

First, in terms of technology research and development, the so-called "FF aiHyper 6X4 architecture2.0" architecture, placed in the highly competitive Chinese market in 2024, can be described as a complete "mess." There's no supercharging when you need it, no intelligent cockpit when you want it, and no road data for intelligent driving...

In the FF91 demonstration videos released by Jia the accountant in the past, either the car was accelerating rapidly or showing off the ability to control the car door with a phone. The so-called AI space was actually watching financial news live... Not a word was mentioned about intelligent voice assistants, intelligent driving algorithms, or supercharging technology. Therefore, what kind of technical level "FF aiHyper 6X4 architecture2.0" actually is, industry insiders can tell just by looking at Jia the accountant's face.

Second, in terms of production, the so-called "complete US-based vehicle manufacturing capabilities and mature manufacturing team" at the California factory is self-defeating.

Can you expect a factory that only produces 12 cars a year to have a mature manufacturing capability?

Even more ironic, in mid-October last year, FF announced that it would upgrade its California factory, expecting it to have an annual production capacity of about 10,000 units after the upgrade. However, when the Daily Economic News visited the factory in November, there were no workers in sight, no logistics vehicles entering or leaving, only an empty factory area and scattered trash left unchecked for a long time.

Even more embarrassingly, in order to dispel rumors, in February this year, Jia the boss invited several unknown self-media outlets to visit the California factory. However, on the seemingly complete assembly line, there was only a lonely car frame, and not a single assembly line worker was visible.

As for the so-called complete supply chain, it is still unknown for FF, which has failed to deliver its promised annual production capacity of 10,000 units. However, Jia the accountant has said that in order to save costs, he plans to gradually transfer part of the supply chain to China. But given Jia's reputation, will there really be domestic suppliers willing to provide products to FF?

Regarding funding issues, even though Jia the accountant's silver tongue is extraordinary, having tricked Sun Hongbin and then 12 suspected "car shills," Jia's mouth is no longer working wonders in the US capital market.

At the end of May, FF just released its long-delayed 2023 financial report. The data shows that in 2023, FF had revenue of $784,000, and Faraday Future had a net loss of $432 million for the full year. But even more shocking than that, the financial report showed that the cash balance as of December 31, 2023 was only $5 million, including $2 million in restricted cash.

Nowadays, Jia the accountant is clearly "crossing the river on a clay figure" in terms of funding. Forget about "creating global profits for partners and empowering capital value." If Jia the accountant had this ability, he would have saved himself a long time ago.

It has to be said that Jia the accountant is truly "gone for half a lifetime and returned still as Jia the accountant." After more than a decade of carmaking, there has been no significant improvement in carmaking technology, but his ability to create concepts and deceive is truly becoming more refined and effortless.

Unfortunately, the current Chinese new energy vehicle market is no longer what it was when Jia the accountant shouted "suffocating for dreams." Therefore, it is unlikely that he will be able to harvest Chinese investors again.

This second brand, like a dream bubble, is more like another money-making scam rather than the beginning of Jia the accountant truly turning over a new leaf and being pragmatic about carmaking. Unfortunately, whether anyone is willing to enter this game is another question.