Jia Yueting challenges Xu Jiayin, FF China employees suffer

On the evening of October 15, more than 60 FF China employees formed a wage-demanding group because they had not received their wages from August 21 to September 20, and stated that Evergrande was "clearing out FF China employees on a large scale."

These employees who have not been paid have signed contracts with Beijing Ruiyu, Shanghai FaRan, FaFa Automobile and other companies, and have not signed new labor contracts with companies with the word Evergrande in their name.

Some of these 60 employees have been with Jia Yueting since the LeEco era. Evergrande's attack on these people before the arbitration result was announced is likely intended to put pressure on Jia Yueting. These 60 employees are planning to file a collective labor arbitration against Evergrande.

In June this year, Evergrande Group indirectly acquired 45% of FF's shares for HK$6.746 billion, becoming the company's largest shareholder.

In October, Evergrande and FF went to arbitration over a dispute. On October 3, Jia Yueting initiated a public arbitration with the Hong Kong International Arbitration Center in the name of Smart King, demanding that Evergrande be deprived of its right to consent to financing as a shareholder and that all agreements be terminated. As a result, Evergrande Health's stock price plummeted.

On October 7, Evergrande Health released an announcement, making the conflict between the two parties public. The announcement stated that the $800 million that Evergrande paid to FF had been basically used up in advance, and the other party required another $700 million to be paid in advance without meeting the payment conditions of the contract.

What Jia Yueting could not accept more than the lack of money was the loss of control over FF. Jia Yueting went to the arbitration court regardless of his feelings just to fight for this. The focus of the conflict between Xu Jiayin and Jia Yueting was precisely the control over FF.

On August 14, Evergrande held an impromptu "Evergrande Faraday Future Intelligent Automobile (China) Group Unveiling Ceremony". Almost all the executives who appeared at the ceremony were from Evergrande, and Jia Yueting did not show up.

This press conference was interpreted by the outside world as an important sign of "getting rid of Jia Yueting".

A few hours after the first pre-production car of FF91 was unveiled at the "919 Futurist Day", it was reported that it had caught fire. FF officials later responded that the news was untrue.

Even if the final arbitration result is in Jia Yueting's favor, he still has to face the problem of mass production and delivery of FF91, and Jia Yueting's situation is still very difficult.

As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity.