•1 min read•from TechCrunch
EV startup Faraday Future paid $7.5M to company tied to founder Jia Yueting
Our take
Faraday Future, the electric vehicle startup led by founder Jia Yueting, has recently paid $7.5 million to a company linked to its founder. This financial move comes amid an ongoing investigation by the SEC, which scrutinized the company's operations over the past four years. The investigation concluded in March, but the payments raise questions about the company's financial practices and governance. As Faraday Future navigates these challenges, its commitment to innovation in the EV market remains a focal point for stakeholders and potential investors.
The perpetually struggling EV company made the payments while being investigated by the SEC. That four-year probe was ultimately closed in March.
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