Wednesday, 8 February 2017

Jia Yueting Says in Exclusive Interview Leshi’s Auto Arm’s Financing Can Be Fixed Within Months


Wu Ziye, Wang You

(YicaiGlobal) Jan. 17 — Jia Yueting, founder of Leshi Holdings Co. [SHE:300104], said that, its major eco-segments — its cars aside — received a total of CNY16.8 billion financing, but that financing for Leshi’s vehicles will also be in the pipeline within a few months.

In an exclusive interview with YicaiGlobal, Jia said, “Leshi’s genetic makeup is to constantly challenge the future.”

He firmly believes a car is no longer a mere travel tool, but an internet transport ecosystem. He said financing for Leshi’s auto business is on the way, and the result will be evident in a few months. “Prospective investors will choose us. I believe that people who see the Faraday Future (FF) car will pay for it.”

Jia candidly conceded that Leshi’s capital capacity is not strong, but it will not abandon any one of its eco-segments.

“We have already done a few types of funding, and we will start the Round-A financing (for the FF) as our next step,” Jia said. “The government has tightened policies on foreign investment, but this will have no great impact on FF funding. In terms of level of importance and urgency, we will get financing, preferably from North America and Europe, but will also consider funding from China,” he added.

Regarding FF’s goal to achieve mass-production in 2018, Jia said, “Everything is ready, and we are eyeing funding results now. Whether funding is in place or not will determine the progress of the entire plant and its construction.” Leshi is in partnership with Los Angeles-based Faraday Future Inc. to jointly develop the latter’s intelligent electronic concept cars.

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