Evergrande formally sued Jia Yueting, saying that Jia Yueting forcibly drove out the cashier and refused financial review

On November 7, Evergrande Health stated that it had filed lawsuits against Jia Yueting in the Grand Court of the Cayman Islands and the Hong Kong International Arbitration Center for his breach of contract.

Evergrande Health stated that Jia Yueting forcibly drove away the cashier appointed by Evergrande and forcibly prevented Evergrande's financial personnel from entering to conduct financial audits.

According to the shareholders' agreement, Evergrande has the right to conduct a financial review and appoint a cashier to FF, and it is agreed that if the cashier does not sign within seven days, it will be deemed that he agrees to pay.

FF believes that Evergrande deliberately put FF into financial difficulties and hindered the mass production of FF91, forcing Jia Yueting to give up his equity in accordance with the equal agreement, so that Evergrande can truly take over FF.

A week ago, Jia Yueting revealed that he had found a new investor and signed a contract with the "top" investment bank Stifel. However, information shows that Stifel Financial is only a small and medium-sized investment bank in the United States, and its current main service targets are individual clients and small and medium-sized companies in the United States.

On October 3, Jia Yueting filed an application for emergency relief and emergency arbitration proceedings with the Hong Kong International Arbitration Centre, requesting that Evergrande be deprived of the right to consent to financing and that all cooperation agreements be terminated.

On October 7, Evergrande Health released an announcement stating that Jia Yueting had basically used up Evergrande's $800 million and proposed to pay another $700 million in advance. After failing to achieve his goal, Jia Yueting filed for arbitration, demanding that Evergrande be deprived of the right to consent to financing and all cooperation agreements be terminated.

On October 25, the Hong Kong International Arbitration Center issued an arbitration result, which showed that Evergrande was not out of the game and Faraday Future also got the opportunity to raise new funds. Both parties in the arbitration declared themselves the winners.

FF stated that Evergrande could no longer prevent FF from obtaining funds from other financing sources, and the court supported FF's application for US$500 million in financing rights.

Evergrande said that the arbitration center rejected Jia Yueting's application to completely deprive Evergrande of the right to consent to financing and to release Evergrande's asset mortgage rights, and only allowed FF, which was about to go bankrupt, to obtain financing under strict conditions.

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.