EV startup Faraday Future paid $7.5M to company tied to founder Jia Yueting
Faraday Future paid approximately $7.5 million in 2025 to FF Global Partners LLC, a company tied to its founder Jia Yueting, amid ongoing financial struggles and a prior SEC investigation into related-party transactions. The payments occurred during a year in which the company delivered only four vehicles and reported nearly $400 million in losses. The SEC closed its four-year investigation in March without enforcement action, despite earlier indications of potential violations.
- ▪Faraday Future paid $7.5 million to FF Global Partners LLC in 2025 through consulting fees, a bonus, and loan repayments, with $2.6 million unexplained.
- ▪The SEC investigated whether Faraday Future misrepresented Jia Yueting’s control over the company and its early EV sales before closing the probe in March.
- ▪FF Global, controlled by Jia Yueting, holds significant influence over Faraday Future and is a major shareholder with control over its management and operations.
- ▪Jia Yueting was temporarily sidelined in 2022 after an internal investigation found misrepresentations about his control, but later regained influence through board changes.
- ▪Jerry Wang, Jia’s nephew and a Faraday Future executive, holds a leadership role at FF Global and receives a six-figure salary along with his wife.
Opening excerpt (first ~120 words) tap to expand
Faraday Future paid around $7.5 million to a company controlled by its founder Jia Yueting in 2025, according to a new regulatory filing. The long-struggling electric vehicle startup made the payments in a year when it delivered only four vehicles and lost nearly $400 million. The company has pivoted to selling cheaper vans and robots imported from China. The payments happened while Faraday Future was still under investigation by the Securities and Exchange Commission (SEC), which was probing what are known as “related party transactions” between the company and entities related to or controlled by Jia, Faraday’s own filings have shown.
…
Excerpt limited to ~120 words for fair-use compliance. The full article is at TechCrunch.
Discussion
0 commentsMore from TechCrunch
