The biggest swindler in China has once again shocked the world.

No one can stop Jia Yueting's crazy steps.

Touzizhe.com learned that recently, there came a bombshell news from across the ocean that shocked the world. Jia Yueting, the biggest swindler in China who fled to the United States with the promise of "returning next week forever", has raised funds again, shattering the "three views" of the global car - building history once more. According to foreign media reports, FF (Faraday Future) has signed a financing agreement of approximately $105 million (about 750 million RMB). Counting several rounds of financing in 2025, FF has secured over $5 billion in financing in its eleven - year history. American and global capital is "unhesitatingly" being suffocated for Jia Yueting's dream.

1

A "once - in - a - century" magical moment is unfolding in the global business history.

Jia Yueting, recognized by Chinese netizens as the biggest swindler, has single - handedly reversed the car - building crisis in the United States, a place lacking the fertile ground for new - energy vehicle manufacturing. Jia Yueting's "legendary" life is probably beyond the imagination of even the most popular short dramas on Douyin. Any logical reasoning seems pale and powerless when it comes to him. However, Jia Yueting is just so magical, and the key is that "someone always pays for his dreams".

This time, Jia Yueting's car - building business "seems to be on the right track". The new round of $105 million financing for FF is not groundless. At the end of June 2025, after half a year of complaining in live - streams, Jia Yueting suddenly announced the latest progress of FF to the world. He launched a new car called "FX Super One (hereinafter referred to as FX)" and released the "6x4 technical architecture" of embodied intelligence built around FX.

Jia Yueting was extremely excited. He found a new independent car dealer in the Las Vegas area of the United States and signed a deposit agreement for 100 units of FX. FX is the first "AI - MPV" model launched by FF's brand. Equipped with lidar and a high - level intelligent driving system, it claims to have achieved L4 - level autonomous driving capabilities. Jia Yueting said, "The total number of paid pre - orders for FX in the B2B market has exceeded 4,100 units."

Undoubtedly, Jia Yueting, who is building cars in the United States, has a new story. Shifting from selling cars to individual consumers globally to enterprise or individual - business consumers, to a certain extent, he has avoided the fierce competition in the global new - energy market, drawing a "new blueprint" for the capital. Not only does FF plan to expand its enterprise - level customers, but it also plans to hold an automobile industry exchange meeting at the Capitol Hill Club in Washington, D.C. on July 23.

What is this exchange meeting for? Jia Yueting wants to discuss the development of the new - energy industry in the United States and globally with American congressmen and officials, covering issues such as automobile tariffs and subsidies. Jia Yueting wants to "help the United States revitalize its domestic new - energy vehicle industry chain." In simple terms, Jia Yueting no longer wants to deceive ordinary people. He has taken deception to a higher level and aims to win over American enterprises and officials.

It is also because of this change that FF is shining in front of global capital. Of course, this is related to Jia Yueting's "foresight". After deceiving global capital for ten years, he found that the B2C story is really hard to tell. According to the analysis of the currently most popular AI large - model DeepSeek, "The global new - energy B2C market is highly competitive, forming a pattern where the leading players are concentrated and the laggards are being eliminated."

The concentration of leading players means that the global new - energy market is dominated by "two giants". BYD and Tesla together account for more than 35% of the global new - energy market share. China's leading and commercially mature car - making enterprises have a market share of over 50% in regions such as Southeast Asia and the Middle East. Besides the dominance of leading players, the competition among laggards is also fierce. In 2024, the penetration rate of new - energy vehicles exceeded 41.9%. Second - and third - tier brands launched price wars to compete for the remaining market share, accelerating the reshuffle of the industry. Against this background, FF has little chance of telling a perfect B2C story.

So, Jia Yueting had a sudden inspiration. He shifted from B2C to B2B, avoiding competitors and kindling the hope of capital to make money.

2

Probably only Jia Yueting in the world can tell a car - building story in multiple versions and reap repeatedly.

As one of the earlier new players in the new - energy vehicle - building industry, Jia Yueting has deceived global capital for ten years with FF's "original divine car". In these ten years, Jia Yueting has raised billions of dollars with a single PPT and his eloquence, and even got FF listed on the US stock market. Although he has only delivered 11 cars in the B2C market, and all 11 cars were recalled, and the data of these 11 cars is also suspected to be false, it still hasn't affected his success in the United States. In 2024, Jia Yueting also caught a wave of popularity as the "bridge between Chinese and American cars".

He made himself a global new - energy "internet celebrity" and then boosted FF's stock price, capturing a large number of "believers" in both China and the United States. With these "believers" in hand, Jia Yueting started the live - streaming mode to grasp the traffic. He opened his heart to the outside world and poured out the hardships of "original car - building", which almost made netizens cry. In fact, Jia Yueting wanted to stabilize the capital and supporters in the B2C business.

The purpose is to pave the way for the "new blueprint". This "new blueprint" is FX. Well, Jia Yueting is quite imaginative. He has depicted four types of user portraits for the B2B group of FX: partners, car - rental companies, live - streaming e - commerce MCN agencies, and real - estate brokerage companies.

Partners are the "buyers" of Jia Yueting's car - building business. They provide core components and software for FF and FX. Whether they can get their money back is a question mark, and now they have to pay for FX's "AI - MPV". FX believes that car - rental companies are very interested in the "AI - MPV". With such a car with L4 - level autonomous driving capabilities, the performance of American car - rental companies will be improved unprecedentedly.

Actually, the most interesting ones here are the live - streaming e - commerce MCN agencies and real - estate brokerage companies. According to FX's vision, the "AI - MPV" will bring traffic to live - streaming e - commerce MCN agencies. They can learn from Chinese Douyin creators on short - video platforms to "make money with traffic". As for real - estate brokerage companies, with the sluggish real - estate market, they can create an "ecosystem of cars and homes".

American enterprises and individual businesses quite agree with this vision. They have rushed to buy the "AI - MPV", sending more than 4,100 paid orders to FX, whose production capacity is already unclear. 4,100 cars are not a large number compared with the initial sales volume of new cars of leading domestic new - energy car - making enterprises. Any one of the leading domestic car - making enterprises can outperform FX. However, the purpose of creating the "AI - MPV" is to draw a "new B2B blueprint".

Global capital has listened, thus enabling FF to secure a $105 million financing. When this news came out, it first caused a stir on Chinese internet platforms. Chinese netizens were completely stunned, and investors from domestic VC/PE and industrial capital were also surprised. The B2B market for new - energy vehicles is not easy to operate. B2B sales need to face the multi - level decision - making chain of enterprises, involving links such as technical solution review and budget approval, which is much more difficult than the B2C market. It is easier to sell a car to an individual consumer than to an enterprise. Only a few leading car - making enterprises can support this business. In addition, the payment cycle in the B2B market is also long, which is beyond the reach of long - term loss - making enterprises like FF.

Domestic VC/PE and industrial capital rarely invest in B2B new - energy car - making enterprises. The direction that investors don't even look at has actually been revitalized by Jia Yueting in the United States. Even more amazingly, Jia Yueting not only focuses on B2B but also aims at B2G, targeting the US government. "FF wants to be the car - making enterprise that sets rules and standards for the new - energy industry in the United States" and "help the United States revitalize its domestic new - energy vehicle industry chain and build a bridge between Chinese and American cars."

The "bridge between Chinese and American cars" is a plan proposed by Jia Yueting in 2024. He wants to change the closed situation of the US new - energy industry.

3

The "blueprint" drawn in 2024 enabled FF to secure several rounds of financing in the first half of 2025.

For a long time, there have been disagreements in the United States regarding the new - energy industry. There are two capital forces behind this. One is the old - established consortia representing the traditional US forces. They control the global large - scale oil circulation and specifically oppose the general trend of new - energy. The other is the emerging US forces, which are optimistic about technological innovation and the evolution of global trends and recognize that new - energy is the future of energy.

The two forces are competing with each other, creating an opportunity for Tesla to build a factory in China. Jia Yueting's dream is suffocating. He wants to gradually change the US attitude towards the new - energy industry by leveraging the special advantage of internet celebrity traffic. Back then, Tesla's entry into China played a "catfish effect" and indirectly promoted the innovation of the new - energy industry chain. Jia Yueting is doing the opposite, using the Chinese industry chain to innovate the US new - energy industry.

The first step in innovating the US new - energy industry is to revitalize the domestic industry chain. He wants to work with US congressmen and officials to achieve this. If the US government joins FF's plan, it will be a "win - win". Firstly, FF's financing and dream - chasing path will become smoother; secondly, Jia Yueting can find "buyers" for the capital that has already invested, and the capital probably won't force him to build cars anymore.

Leave the dream to the US government and enterprise customers. Once successful, it will be a "closed - loop dream". Some entertainment media reported a few days ago that Jia Yueting's ex - wife, Gan Wei, took their children to the United States to send Chinese walnut cakes to her ex - husband, and the family was very happy. Jia Yueting is living a carefree life in the United States. After the LeEco crisis, he fled to the United States, originally carrying about $3 billion in debt. However, he played a trick that Xu Jiayin didn't have time to play. He divorced his wife before applying for personal bankruptcy reorganization and resolved the creditor's rights with FF's equity and US stock market listing.

The creditors who came to Jia Yueting for debt collection have become shareholders of FF. Jia Yueting has been living comfortably by taking advantage of loopholes in US laws. He once said, "I have no debt under the US legal system." Although Jia Yueting has no debt in the United States, he still has debt in China. As of the first half of 2025, Jia Yueting's remaining debt in China is about 14 billion RMB. When the LeEco crisis broke out, the total amount of debts to be executed against Jia Yueting in China was about 34 billion RMB, including personal guarantee debts and debts related to LeEco. In the past ten years, Jia Yueting, who fled, has quietly repaid tens of billions of RMB.

FF has no self - generating ability. How can he repay the debt? Most likely, he will use American and global capital to fill the debt hole. In his more than a decade of car - building, he has raised over $5 billion in financing by drawing big blueprints, trapping capital shareholders in the debt left by his flight. Currently, Jia Yueting's main pressure is how to help the capital get out of the trap. How to do it? Use the B2B and B2G "blueprints" to trap American enterprises and the government as well, and let them all be suffocated together.

Just recently, the US government may have realized that it might become the "buyer" and issued a "Wells Notice", "accusing Jia Yueting of violating multiple anti - fraud provisions in the US federal securities laws." However, the "Wells Notice" is an informal reminder issued by the SEC (US Securities and Exchange Commission) before initiating a civil lawsuit against a US - listed company. The listed company that receives the notice can communicate and negotiate with the SEC before the formal lawsuit. I believe these problems are minor for Jia Yueting, and he can always turn the situation around.

This article is from the WeChat official account "Touzizhe", author: Lao Gao. Republished by 36Kr with authorization.