Jia Yueting Revives Supercar Plan, Bids for Land in South China Amid Recruitment Drive

Jia Yueting Revives Supercar Plan, Bids for Land in South China Amid Recruitment Drive

Xu Wei

Date: Tue, 03/20/2018 - 22:22 / source:Yicai
Jia Yueting Revives Supercar Plan, Bids for Land in South China Amid Recruitment Drive
Jia Yueting Revives Supercar Plan, Bids for Land in South China Amid Recruitment Drive

(Yicai Global) March 20 -- Faraday & Future Inc., the US-based new energy vehicle maker led by embattled Chinese entrepreneur Jia Yueting, has kicked off an extensive recruitment initiative after founding a new subsidiary, Ruichi Smart Car Guangzhou Co. to bid for a 40-hectare land plot for manufacturing projects near the capital of South China’s Guangdong province, Tencent Finance reported today.

FF Motor China Co., an affiliate of Faraday Future, posted five job ads on its official Weibo account between Jan. 12 and March 16, looking for candidates to fill more than 210 vacancies in Beijing and Shanghai.

All the existing employees at Le Supercar have been transferred to FF Motor China, said a former employee of the Beijing-based firm. Production related jobs make up some 60 percent of the vacancies advertised by FF Motor China.

Ruichi Smart Car Guangzhou was incorporated with an initial registered capital of USD300 million in Nansha district of Guangzhou as a wholly-owned subsidiary of Smart Mobility (Hong Kong) Holdings Limited, a private company originally known as FF Hong Kong Holdings Ltd., business registration shows.

The Hong Kong holdings company is also the controlling shareholder of FF Motor China Co. with a shareholding of 95 percent. Ruichi plans to bid for an industrial plot located in the Wanqingsha bonded port area of Nansha district to build an electric car plant, the report suggested.

Guangzhou’s land resources and planning commission put a 50-year lease up for auction for a 40-hectare (401,000 square meters) plot designated for industrial development early this month.

The land was reportedly provided for American carmaker Tesla, but the company publicly denied the news. Ruichi Smart Car meets all of the government’s requirements for the land lease in terms of paid-up capital and business positioning, the report added.

Faraday Future has not commented on the report.

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Keywords: Jia Yueting, FARADAY FUTURE, Smart Mobility, NEV, Nansha