"There are too many times you don't count, so you'll buy your phone, your TV, your car, but there's still a possibility, unless you're Elon Musk, the world's richest car man at the moment."
Regarding Jia Yueting and his FF91 mass production car off the production line, watching the time start from 7:59:50 seconds later into the countdown of 10 numbers, the performance of the conference is much more stable than the corporate process, and did not start in the ticket jump or delay. At 8:00 a.m. Beijing time on February 24, 2022, the first time the FF91 quasi-mass production version completed the offline, the title given by foreign media was very direct, and there was a waiting period of 5 years and 1 day. From the release of CES in 2017 to the completion of quasi-mass production in 2022, there have been too many new stories, such as returning to China next week, executive replacement, Evergrande takeover, Evergrande dispute, LeTV debt repayment, personal bankruptcy, 301 Bill, NASDAQ completed listing, order rumors and fraud, etc.
Under this string of variables, Jia Yueting and FF's new promises have basically lost credibility in most fields.
FF91 quasi-production version, return to China next week - 1 day, 6 days left
To draw conclusions about something, we must revolve around the reality of what is happening in front of us. The new reality belonging to Jia Yueting and FF is that after the NASDAQ listing on July 22, 2021 Beijing time and obtaining $1 billion in new financing, Jia Yueting finally has new funds to promote the global mass production and delivery of FF91.
Just after the FF listing rang the bell, Jia Yueting expressed his intention to return to China, and also hinted at the idea of "fulfilling his responsibilities and repaying debts in the end". Of course, the future expectations given by Jia Yueting naturally do not have much credibility at the moment, unless they are truly realized. The disclosure of illegal facts of financial fraud for 10 consecutive years shows China's unbelief, and after the listing, FF has begun to have a large number of distrust from the US regulatory authorities and capital markets.
The U.S. Securities Exchange Issued a Warning Letter requiring disclosure of the financial situation, while short-selling institutions gave conclusions about fraudulent order quantities and repayment of Chinese bonds with U.S. money.
In any case, Jia Yueting and FF need to give market confidence, the previous gradual accumulation of distrust coupled with the key node jump after the IPO, will mean that he can only exist in the future almost 100% of the label of hi, but if the successful development of the enterprise is completed, the debt repayment returns and the real technology leadership, it will be the "founder of the invention of smart cars". That sentence returns to China next week, after completing the pre-production version of the off-line, at least in 7 days, minus 1 day.
One in hell and one in heaven.
In front of you, heaven or hell, is still blurred. Because the confidence given by the quasi-production version of FF91 is not enough. The form of global release is recording, FF91 quasi-mass production version, Jia Yueting, Bi Fukang three, and there is no photographic treatment. The opening screen is Jia Yueting sitting in the position of the co-pilot, an engineer introduces what the vehicle has done in intelligence (central control control lights, media, windows, etc.), Bi Fukang read the appearance, got on the car and drove to the established position, and then Bi and Jia respectively held the microphone to talk about the significance of the quasi-production car off the line, the future rhythm and planning. After that, the picture turned, Jia Yueting and FF91 appeared in the open space next to the parking lot of the factory area, and the engineer of FF drove the car on the small pile bucket placed.
THANKS FOR WATCHING, end of screen. This is worse than most of the conferences you and I see, there is no Flag about the future, there is no display of intelligent advantages, there is no benchmarking business, and people who do not know FF well are almost 100% full of question marks after reading.
Based on the information revealed in the global press conference, the positive is supplemented by the negative, which is evident from the feedback in the live comment area.
The negative news is that the FF91, which is a self-positioning intelligent technology level higher than Tesla's, has only been recognized by Musk on Twitter, but it has not been shown to the market. The time is not 2017, when many of the concepts proposed by FF91 have been almost fully realized by car companies.
The negative news is also that the foreigners in the live interactive area are not at all satisfied with the content of the press conference, "bad content speech, almost the same as 7 years ago." Yes, the product/content spoken has not changed, or to challenge Maybach, or very smart, but because of the lack of results and years of ticket jumping, the results are self-evident.
Everything is two-sided, and there is also positive news about FF91 in this conference. Looking at the posture of the passengers in the car and the posture of the body outside the car during the road test, combined with the relevant professionalism of our automotive media, we can basically give it a conclusion that the movement/handling performance is good. With a length of 5250mm, a wheelbase of 3200mm and a maximum power of 1050 horsepower, the sporty posture is like a small car and not bulky. Of course, this is only the passing level, referring to its current limited edition price of more than 2 million yuan, to do these are passing lines.
There were also positive news that there were several comments in the interactive area that read," "Make it as soon as possible and sell it to an English-speaking country."
Outside of China, Musk has a precedent
English-speaking countries or European and American markets, from the perspective of the automobile industry and business, are precisely the few opportunities for FF.
From the perspective of the automobile industry, the European and American markets are currently in a blue ocean state, compared with more than 100 automobile companies registered in the Chinese market with intelligent electrification as the main line, tesla in the European and American markets is in a dominant state, dominated by the transformation of traditional car companies, and the competition is small.
If FF enters the Chinese market, it will face an environment that is not friendly enough in addition to more competition. On the one hand, the world's strong car companies have chosen to accelerate the intelligent electric business in China, and there are a series of Chinese car companies in rapid growth, in addition to Wei Xiaoli, Ding Lei, who previously led the FF91 plan, has successfully landed Gaohe.
In addition, the unfavorable factors for FF in the Chinese market also include the automotive technology part. At the press conference of the FF91 quasi-production version of the production line, the huge Born in California on the background board is the fundamental. Keywords like California-born, Silicon Valley-based, global DNA don't solve its compliance/regulatory problems.
The intelligent related systems developed according to the Internet software architecture and supervision in Europe and the United States need to be re-adapted to Enter China, and the ecology needs to be re-opened. These mean that even if FF's intelligent technology capabilities are really higher than Tesla's, it cannot complete the display of capabilities at the time of delivery, and may even be easily abused by Chinese car companies for a long time.
Without him, this is both a first-mover advantage in technology, the first mover enjoys the dividend for iteration, and the catcher has to pay tuition.
Taking Tesla as an example, its electronic and electrical architecture, algorithms, software and hardware capabilities are at the top level in the world, including but not limited to: around 2023, the head car companies in the department can achieve the same capabilities of today's Tesla E/E architecture under the SOA concept; it is more difficult to develop chips + hardware. However, Tesla, which has these, has not received high scores in the field of intelligent interaction in the Chinese market, which can identify dialect types, response speed, natural voice interaction, etc.; nor has it scored high scores in the field of intelligent driving, such as takeover rate, stability rate, success rate of entering and exiting ramps, parking lot memory parking and other small scenes.
Taking Tesla's reality as an example, FF cuts in at the price of ultra-luxury cars, and its opportunities are naturally in the European and American markets where competition is relatively insufficient + technical compliance matches natural advantages.
In addition, in the business field, the label of FF+ Jia Yueting is also a major obstacle in the Chinese market because of various past examples. Therefore, although Jia Yueting said at the press conference that it will be landed in Shanghai, Chengdu and other places in China, the actual expectation is limited in nature.
I believe that seeing this, the question in your heart may be, is the next step of FF a game of death?
As of now, not yet. When Tesla is in the first market capitalization of global car companies and Elon Musk is firmly in the position of the richest man in the car, FF has a future.
The richest man and market capitalization represent the capital market's judgment of the trend, which means that the trend remains unchanged when it is still in an unshakable position. Looking at the development trajectory of Musk and Tesla, it is clear that it can develop rapidly without following traditional laws.
The flags established, such as delivery rhythm, OTA capabilities, software and hardware versions, etc., were not as agreed;
Advertised technologies, such as autonomous driving, the safest, etc., are being investigated by more and more institutions, or self-modifying;
The above topics about performance and goodwill do not have a direct impact on the current development and sales of Tesla. In the under-competitive market, Tesla, which holds unique and innovative advantages in its hands, is standing on the cusp of the trend and reaping dividends.
Because, consumers don't have it to choose.
For FF, when it can do "no other optional", many of the previous problems will be solved. As for the future development trajectory, it is relatively clear at present, the official mass production time of FF91 is in the third quarter of this year, and in 2023, it will complete the mass production of smaller size FF81 with Korean car companies.
After the delivery volume gradually increases, the vitality of FF can really be revealed.
Write at the end:
As for the topic of making money to pay off debts and returning to China, it is still too early at this current time node, and the meal must be eaten bite by bite, and the car must be delivered one by one.
How long does $1 billion cost FF spend, where will the next money come from, how to further pre-research/iterate/optimize smart technology after delivery, how to solve compliance around the world, how to establish its own channels, and marketing innovation, technological innovation, etc.
Everything needs to burn money, Tesla, Weilai, Xiaopeng, Daimler, BMW, Volkswagen, Toyota, Honda are the same, FF can not avoid.