LeTV claims no equity or cooperation relation with Faraday Future

Shanghai (Gasgoo)- On August 15, Chinese online video service provider LeTV claimed in a statement that it is unaware of Faraday Future (FF)'s long-term strategic planning and the NEV maker's production and sales goal.

Apart from that, LeTV said it does not hold any equity in FF directly or indirectly and generates no equity or cooperation relation with FF. Meanwhile, the company is unable to verify that FF's funding sources have anything to do with the accounts receivable from affiliated parties or relevant load commitments that Jia Yueting fails to perform.

Evergrande Health Industry Group Limited (Evergrande Health) announced on August 14 that Faraday Future (FF) has set up its operating headquarters in China on the same day.

The newly-established headquarters, called Evergrande Faraday Future Intelligent Automotive (China) Co., Ltd, will take charge of the technology R&D, as well as FF's production, operation and management in China.

According to the announcement, FF plans to build five R&D and production bases in China over the next decade. Besides, the NEV maker aims to achieve a planned annual capacity of 5 million vehicles after 10 years and will roll out diverse models, such as the FF91 and the FF81, covering premium to entry-level segments for the global auto market, to build an internet-based intelligent mobility ecosystem.

Meanwhile, Evergrande Health said the first FF91 body-in-white has arrived FF's assembly facility in Hanford, California, where the complete vehicle assembly has officially started. Besides, the company is simultaneously conducting various tests, including the engineering test, to ensure the completion of its first batch of FF91 volume vehicles by first quarter next year.

It is noteworthy that Evergrande Health saw its stock price grow 7.72% at HK$ 13.96 per share on Tuesday, with its valuation exceeding HK$120 billion for the first time.