Faraday Future reportedly paid $7.5M to a firm linked to founder Jia Yueting

Faraday Future paid approximately $7.5 million in 2025 to a company controlled by its founder, Jia Yueting, according to a newly disclosed regulatory filing.

The payments came during a difficult year for the electric vehicle company, which delivered just 4 vehicles while reporting nearly $400 million in losses. At the same time, Faraday Future has been shifting its strategy toward selling lower-cost vans and robotics products imported from China.

These transactions occurred while the company was still under investigation by the U.S. Securities and Exchange Commission, which had been examining “related party transactions” involving entities connected to Jia. The regulator was also reviewing whether the company accurately disclosed Jia’s level of control when it went public in 2021 and whether it misrepresented early EV sales figures in 2023.

The SEC concluded its four-year investigation in March, even after issuing notices last year to Faraday Future, Jia, and other executives indicating that enforcement action was being considered. The investigation’s closure comes amid a broader decline in white-collar crime enforcement during the second Trump administration.

Details of the payments were outlined in Faraday Future’s annual proxy filing released Thursday. According to the document, the company paid a combination of $100,000 in monthly consulting fees, a $2 million bonus, and $1.7 million to repay loans owed to FF Global Partners LLC. The remaining $2.6 million referenced in the filing was not explained.

Faraday Future describes FF Global as an affiliate of Jia and has previously stated that he holds “significant influence” over the entity. FF Global has five voting managers, including Jia, as well as business associates and his nephew, Jerry Wang.

Wang, who serves as president at Faraday Future, receives a six-figure salary from FF Global, according to the filing. His wife, who leads FF Global’s legal department, is also compensated by the entity. FF Global maintains a similar consulting arrangement with AIXC, a cryptocurrency holding company run by Wang and advised by Jia. Wang’s wife’s law firm also provides consulting services to that company.

FF Global is one of the largest shareholders in Faraday Future and, alongside Jia, exercises extensive control over the EV startup. The company has acknowledged this level of influence as a risk factor in its filings.

“Jia and FF Global, over which Mr Jia exercises significant influence, have control over our management, business and operations, and may use this control in ways that are not aligned with our business or financial objectives or strategies or that are otherwise inconsistent with our interests,” the company stated earlier this year.

FF Global also played a central role in restoring Jia’s leadership after the company went public in 2021 through a merger with a special purpose acquisition company. Soon after that merger, the board launched an internal investigation into Jia’s financial dealings and disclosures tied to the listing.

In early 2022, the board removed Jia from his role after determining that Faraday Future had misrepresented the extent of his control. The findings were referred to the SEC, which subsequently opened its investigation.

Throughout 2022, FF Global actively pushed to replace board members with individuals aligned with Jia. The situation escalated to the point where several board members received death threats, leading some to resign out of concern for their safety. Jia was reinstated as co-CEO last year and now serves as the company’s sole CEO.

FF Global is not the only entity linked to Jia that has financial dealings with Faraday Future. The company disclosed that it paid $700,000 last year to a loan provider associated with him. Additionally, it owes $8.5 million to Leshi Information Technology Co. Ltd., a business affiliated with Jia’s former conglomerate,e LeEco, for advertising-related services.