Some say that Jia Yueting should be the biggest liar in China's car manufacturing circle.

Starting from LeTV in those days, he was good at using PPTs and deceiving people, luring many celebrities to invest in him.

Later, when he started making cars, he relied even more on deception, duping Sun Hongbin and Xu Jiayin, such influential figures who believed in Jia Yueting, showing how skilled he truly is.

Later, not a single car was produced, but he still managed to list on Nasdaq and convinced creditors to convert 3 billion US dollars of debt into FF Faraday shares, wiping out his own debts. Isn't he amazing?

Of course, in the car manufacturing industry, Jia Yueting did spend some money. He spent more than 3 billion yuan on average over 10 years of car manufacturing, which translates to over 20 billion yuan burned through. After burning through over 20 billion yuan, only 12 FF91s have been delivered so far.

Currently, the biggest problem for Jia Yueting's FF is a lack of funds. In Jia Yueting's own words, he can't even afford the rent.

After more than 10 years of car manufacturing, one year of mass production, and delivering 12 cars, he spent over 20 billion yuan. As of May 23, 2024, FF's cash reserve is 5 million US dollars (approximately 36.278 million yuan).

Under such circumstances, I think most people would have given up long ago, but Jia Yueting didn't. He still wants to turn around with this 5 million US dollar cash reserve.

In Jia Yueting's plan, one is to launch cheaper models for large-scale delivery. After all, the FF91 is too expensive, costing 2 million yuan, which is not affordable for ordinary people. Therefore, they plan to build a car worth around 200,000 to 300,000 yuan and deliver it to ordinary people on a large scale to increase sales.

Another goal is to make money. Jia Yueting's plan is to save the company through methods such as commercializing his personal IP. That's why we've seen Jia Yueting being very active on some short video platforms recently, often filming videos of his daily life, presumably preparing to become an influencer.

But to be honest, as Jia Yueting himself said, the biggest problem FF currently faces is a lack of funds, and the root cause of the lack of funds is "issues of confidence and trust."

If people don't trust FF Faraday or Jia Yueting, how can they raise funds? And without funds, how can they manufacture cars? They still owe rent.

So it's basically impossible to turn around with this 5 million US dollar cash reserve. In the end, Jia Yueting will still have to find a way to deceive some wealthy figures and convince them to invest. Talking about commercializing his personal IP is just that, talk. He's not Luo Yonghao, who can't sell products.