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On Thursday, local time, Faraday Futures, a US electric car company, acknowledged in a regulatory filing with the US Securities Commission (SEC) that some members of the company's management team and employees had received security notices and subpoenas from SEC staff in the United States. The reason for the investigation is that Faraday Future is suspected of releasing inaccurate information to investors. Faraday said in the future that he had previously taken the initiative to contact the US Securities and Exchange Commission on the special committee's investigation and is now fully cooperating with the US Securities and Exchange Commission's investigation.

In addition, Faraday said in the future that the annual financial report up to December 2021 is not expected to be submitted within the deadline due to delays caused by internal investigations. October 7, 2021, investment company and short seller J Capital Research Ltd. A 27-page Faraday short report was released, which expressed its doubts about Faraday's future company from the perspectives of Faraday's future production capacity, capital operation performance, R & D investment and Jia Yueting's own punishment in China. The sources included field research visits, company financial report data and public information, and questioned FFIE's car-building ability in various aspects. And listed a series of 10 items, including embezzlement, factory delays and fake orders, and said bluntly that "FF can't sell a car."

In early February, a special committee of Faraday's future independent board said there was no evidence to support the previous short-selling report by J Capital Research, but admitted that only a few hundred people had paid for Faraday's future 14000 orders, a statement that misled investors. To that end, Faraday in the future, at the request of the board, demoted or suspended a number of responsible people, cut the base salary of the company's CEO, Carsten Bradfield (Carsten Breitfield) and founder Jia Yueting, and asked them to report to the newly appointed executive chairman, Susan Susan Swenson.

As a domestic figure, Jia Yueting is also a veteran of the "new power of car building", who founded Faraday Future with two other founders in California as early as April 2014. At the same time, Jia Yueting also announced Letv's "SEE plan" in China. Letv car is regarded as Letv's ecological super terminal, and Letv supercar LeSEE, which locates D-class Internet unmanned electric vehicles, is called by Jia Yueting as the best Internet smart car in the world. However, with the collapse of Letv's system, Jia Yueting left the United States in July 2017 because he was mired in a debt crisis and worked hard to join the car-building industry, but has not yet returned home.

In January 2017, Faraday officially launched its first electric vehicle, the FF 91, after which the company announced the completion of a $1 billion round of financing, with Jia Yueting as the global CEO and chief product officer. However, due to the report of Jia Yueting's personal debt crisis, FF got into financial difficulties and the car-building project continued to shut down. In 2019, Jia Yueting declared personal bankruptcy and reorganization, transferred his personal assets to creditors by way of creditor trust, and became a shareholder of FF.

After all kinds of twists and turns, FF chose to go public in the United States through PSAC in order to solve the capital problem. On July 22nd, 2021, Faraday officially landed on NASDAQ with the stock symbol "FFIE". "the listing of FF is a new starting point, which solves the biggest funding problem, and then goes all out to achieve mass production in 12 months," Jia Yueting said in an interview at the listing.

On February 24th, the quasi-mass production version of FF 91, which was highly expected by Jia Yueting, was officially unveiled. Combined with the previous news from Jia Yueting, FF 91 will be delivered in July. It should be noted that this is not the final production car, it is still a quasi-production car. It is understood that as early as 2019, Jia Yueting announced on moments that FF 91 was only one foot away from mass production, but unexpectedly, the kick lasted three years, while the quasi-production version of the car was still released to the public. Of course, at least it proves that FF 91 is one step closer to real mass production, offline and delivery. According to the official website, FF 91 uses a front-to-back two-three motor layout, with a combined maximum power of 1050 horsepower, a peak torque of 1800N ·m, a 0-96km/h acceleration time of 2.39s, a 130kwh battery pack and a 700km mileage under NEDC conditions.

Isn't Jia Yueting the next "Xu Jiayin"? Leeco pinned its hopes on Jia Yueting, while Jia Yueting pinned his hopes on FF. Perhaps, only with the success of mass production of FF 91 can Jia Yueting be reborn and return to China "next week," but everything is full of uncertainties. Faraday's future operating loss will increase to about $186 million in the three months to September 30, 2021, compared with about $18 million in the same period in 2020, according to documents. In addition, the net loss for the three months ended September 30, 2021 will increase to approximately $304 million, compared with a net loss of approximately $33 million for the same period in 2020.

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