Faraday Future, September 26, US local time ($Faraday Future Intelligent Electric Inc. (FFIE.US)$(hereinafter referred to as "FF") announced that it had reached a comprehensive solution to its governance differences with FF Top, a major shareholder of the company, FF Global Partners, and implemented the final new financing agreement.

According to the agreement, Sue Swenson, the current executive chairman of FF, and Brian Krolicki, the former chairman (current director), will resign, and Adam He, a senior executive, will be appointed as the new independent director.

In addition, FF's board of directors will undergo a major restructuring after the annual general meeting, changing the original nine board seats to seven. FF Top will withdraw its lawsuit against FF and its board of directors.

It is reported that FF Top holds 36 per cent of the voting rights of FF and is believed to be linked to Jia Yueting, founder of FF.

This means that Jia Yueting and his partner team regained control of FF, ending the infighting in the year since FF went public.

As a result, FF shares rose 9.52% as of Sept. 26, but they are still only 84 cents a share, with a market capitalization of $276 million, down more than 90 percent from their first-day closing price.

"this is another major inflection point for FF." Jia Yueting said in personal Weibo Corp on September 27th.

"putting things right and getting back on track is another major inflection point for FF. I would like to express my heartfelt thanks to all the investors, partners, executives and employees who worked together to save FF.

In addition, FF announced that FF will receive new financing from investment agencies Daguan and ATW, totaling up to $100m. But FF did not disclose the specific purpose of the $100m financing.

The latest developments in the closely watched FF91 have also been disclosed.

At present, FF91's 381-mile mileage has been officially certified by EPA, the most important legal certification has been completed, and all the equipment at the Hanford manufacturing plant in California is in place and is under intensive testing.

FF said that the delivery of FF 91 electric vehicles will be delayed and FF 91 will not be delivered as expected in the third or fourth quarter of this year.

The delay is due to tight cash flow.

As of September 21, 2022, FF's cash position in the United States was $33.5 million, of which $2.1 million was restricted. It expects the company to consume $293 million in operating cash from September 1 to December 31 in 2022, compared with about $708 million for the whole of 2022.

FF also said that as part of its ongoing efforts to save cash and reduce expenses, the company has recently implemented a series of cost-cutting measures, including layoffs and delayed payments.

Depending on the company's financial and market conditions, it may take further cost-cutting measures, including layoffs. Given these efforts, it no longer expects delivery of the FF 91 to begin in the third or fourth quarter of 2022.

Jia Yueting said that next, we will make every effort to sprint the mass production delivery of FF91 Futurist.

Unlike in the past few years, the new trends of Jia Yueting and FF do not seem to attract the attention of the market and investment, and seem very lonely.

People no longer seem to believe that Jia Yueting can really build a mass production car, and they have already given up on him.

It has been five or six years since Jia Yueting announced the construction of the car and the launch of the FF91 concept model. During the continuous FF storm and the rapid development of the new energy market, Jia Yueting and this car are no longer the leaders in the trend.

Now FF's infighting is over and new financing has been obtained, which may speed up the mass production of FF91, while Jia Yueting needs to use real strength to regain people's attention.

I just don't know if the market will give him a chance.