Faraday Future paid approximately $7.5 million in 2025 to an entity connected to its founder Jia Yueting, according to a newly released regulatory filing, during a year marked by limited vehicle deliveries and significant financial losses.
Payments Occur During Period Of Low Output And High Losses
The company delivered four vehicles in 2025 while reporting losses nearing $400 million. During the same period, it made payments to FF Global Partners LLC, an entity described as an affiliate of Jia.
The payments included monthly consulting fees of $100,000, totaling part of the disclosed amount, alongside a $2 million bonus payment and $1.7 million used to repay loans. The filing did not explain the remaining $2.6 million.
Transactions Took Place Amid SEC Investigation
The payments occurred while Securities and Exchange Commission was investigating Faraday Future over related-party transactions involving Jia-linked entities. The regulator was also examining whether the company accurately disclosed Jia’s level of control when it went public in 2021 and whether it misrepresented early vehicle sales in 2023.
The SEC ended its four-year investigation in March, despite having previously issued notices indicating that enforcement action was being considered.
FF Global Structure And Influence Detailed In Filing
Faraday Future stated that Jia exerts “significant influence” over FF Global. The entity has five voting managers, including Jia, business associates, and his nephew Jerry Wang.
Wang receives a six-figure salary from FF Global, as does his wife, who leads its legal department. FF Global also maintains a consulting agreement with AIXC, a crypto holding company run by Wang and advised by Jia.
Company Highlights Governance Risks Linked To Control
Faraday Future identified FF Global and Jia’s influence as a risk factor in its filings, stating that their control over management and operations could lead to decisions not aligned with the company’s business or financial objectives.
FF Global is also a major shareholder and plays a central role in governance.
History Of Leadership Changes And Internal Conflict
After Faraday Future became public through a merger in 2021, its board investigated Jia’s financial activities and disclosures. In early 2022, the board removed him from a leadership role after determining the company had misrepresented his level of control and referred the matter to regulators.
During 2022, FF Global pushed to replace board members with individuals supportive of Jia. The situation escalated, with some board members receiving death threats and later resigning citing safety concerns. Jia returned as co-CEO last year and now serves as the company’s sole CEO.
Additional Financial Ties To Founder-Linked Entities
The filing also disclosed that Faraday Future paid $700,000 to a loan company associated with Jia in 2025. The company further reported an outstanding obligation of $8.5 million to Leshi Information Technology Co. Ltd., part of Jia’s former conglomerate LeEco, for advertising services.
Featured image credits: Wikimedia Commons
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