Jia Yueting Allegedly Comes Out of the Shadow, Takes Control of Faraday Future

Faraday Future prototype 1 photo
Photo: YouTube screenshot
OK, so you're probably sick of Faraday Future news, but at least this one does not include a teaser. Plus, it's kind of important since it reports a desperate measure made to save what's left of the company.
Right now, Faraday Future looks like a building that has a nice exterior, but it's crumbling down on the inside. People are leaving - influential people - which is usually a sign that things aren't going wonderfully. If we didn't have any other doubts concerning the situation at FF, maybe we'd say they had found a better job, but since the financial troubles of its main backer have been confirmed, it's hard not to read more into it.

The latest two executives who added their names to the list of those who left ship are Marco Mattiacci and Joerg Sommer. Both of them joined Faraday Future this year and came in as big names poached from other car companies - Ferrari for Mattiacci and Volkswagen for Sommer. They were among the top eight executives who occupied the highest positions in the company's hierarchy.

But the real big news is the formal arrival of Jia Yueting at Faraday Future. Quoting unnamed sources from inside the company, Electrek says the Chinese billionaire who - was officially only an investor in FF so far - has taken over and is now calling the shots together with a team he brought from LeEco.

Whether that'll help Faraday Future or not remains to be seen, but at least it shows somebody is finally taking responsibility. With its first product scheduled to be released on January 3 at CES 2017, these are important moments for the EV startup.

The company hopes the reveal early next year will bring a cash infusion that will relaunch work on the $1 billion factory in Nevada which is now halted due to unpaid bills. It definitely looks like a lot - if not everything - is hanging on the success of this first vehicle, which explains the very aggressive teasing campaign. By the end of next month, we will probably know whether Faraday Future goes on, or the whole project is called off. Let's hope for the former.
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About the author: Vlad Mitrache
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"Boy meets car, boy loves car, boy gets journalism degree and starts job writing and editing at a car magazine" - 5/5. (Vlad Mitrache if he was a movie)
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