29 Dec '17, 2pm

Faraday Future, primary investor crushed by mounting debt, lawsuits

Faraday Future FF 91 Enlarge Photo Struggling Faraday Future and its founding investor Jia Yueting are facing financial and legal woes that threaten the company's existence. Jia specifically has been placed on an official list of debt defaulters on a website run by the Chinese government after the LeEco founder failed to follow a court order stipulating he pay a debt of more than 470 million yuan ($71 million) to a securities company. The China Securities Regulatory Commission has also issued an order for Jia to return to China to provide financing for one of his other struggling companies. DON'T MISS: Bowing to inevitable, Faraday Future scales back plant plans (Feb 2017) According to Reuters , Jia and his tech conglomerate LeEco have both been treading water financially since a rapid 2016 expansion left the company in a cash crunch. Leshi, the video-streaming unit of LeE...

Full article: https://www.greencarreports.com/news/1114505_faraday-futu...

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