# Faraday Future Intelligent Electric

Faraday Future Intelligent Electric is an Asset Manager based in Los Angeles, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Los Angeles, United States
- **Region:** North America
- **Address:** Los Angeles, CA, United States
- **Founded:** 2014
- **Assets under management:** Undisclosed
- **Website:** ff.com

## Regulatory record

- **Reports private funds:** No

## About

Faraday Future was incorporated in 2014 by Chinese entrepreneur Jia Yueting, founder of Leshi Internet Information & Technology, as an attempt to create a vertically integrated luxury electric vehicle brand. The firm selected Hanford, California for its manufacturing site in 2017, after abandoning a planned $1 billion Nevada gigafactory following contractor payment disputes and cash crises. Its sole production-intent vehicle, the FF 91 2.0 Futurist Alliance, entered low-volume deliveries in August 2023 at a base price above $300,000. Faraday Future pursues a single-asset strategy: designing, engineering and hand-assembling a hyper-luxury EV crossover it calls an 'Ultimate Intelligent TechLuxury' product. The firm does not operate as a diversified asset manager or family office; its deployment has historically been channeled into payroll, R&D and survival rather than venture or fund commitments. The vehicle incorporates claimed artificial intelligence, biometric sensors, zero-gravity seating and a 142 kWh battery. No additional vehicle platforms, fund vehicles, SPVs or co-investment programs are deployed. Operations are concentrated entirely in the United States, with executive and engineering teams in Los Angeles and assembly in Hanford. Public filings place Faraday Future's cumulative losses above $4 billion through 2023, with headcount collapsing from over 1,000 to fewer than 500 employees during multiple near-death restructurings (per SEC filings, 2023). The firm secured a $1 billion SPAC merger in 2021, but liquidity remained precarious, forcing repeated share issuances and a reverse stock split in August 2023 to maintain Nasdaq listing. Jia Yueting's personal bankruptcy in 2020 separated his consumer debt from the entity, though SEC subpoenas into statements made around reservation numbers and deposits persisted into late 2023. Faraday Future's structural distinction is its extreme founder-control / public-market hybrid. The board appointed a new CEO in September 2023 after the prior CEO resigned amid governance investigations, yet Yueting retained sign-off authority over all key decisions through a 'Founder role' arrangement. No successive family office, venture arm, or philanthropic foundation has been formed, and the firm's ongoing viability depends entirely on continued dilutive capital raises from retail and institutional speculators in a vehicle that produces fewer than a handful of units per month.

## Sectors

- Mobility & Transportation
- Energy Transition & Renewables

## People

- Jia Yueting — Founder

## Questions

### Who controls Faraday Future, and what is Jia Yueting's current role?

Jia Yueting, who founded Faraday Future in 2014, retains control as 'Founder and Chief Product and User Ecosystem Officer.' He is the dominant shareholder and a board member. A CEO replacement in September 2023 pointedly did not diminish his sign-off authority over strategic decisions.

### What happened to Faraday Future's planned Nevada factory?

Faraday Future broke ground on a $1 billion facility in North Las Vegas in 2016 but halted construction in 2017 after contractors filed liens for unpaid work. The firm later shifted assembly to an existing facility in Hanford, California, which remains its sole manufacturing base.

### How does Faraday Future fund its operations?

The firm relies on public equity markets after a 2021 SPAC merger. It uses at-the-market share offerings, convertible notes, and a Palantir-linked shelf registration to raise cash, with no meaningful consumer revenue to offset burn as of mid-2024.

### Is Faraday Future currently producing vehicles at volume?

No. The FF 91 2.0 began limited deliveries in August 2023, but production has been described as low-single-digit monthly hand-builds. The firm has not demonstrated capacity for serial mass production as of the latest public updates.

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Last updated: 2026-06-03T20:00:00.000Z

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