Faraday Future paid approximately $7.5 million to FF Global Partners LLC, controlled by its founder Jia Yueting, in 2025, as reported in a regulatory filing. This occurred during a year when the struggling electric vehicle startup delivered only four vehicles and lost nearly $400 million. The company is now focusing on selling cheaper vans and robots imported from China.
While under investigation by the SEC for related party transactions involving Jia, the payments included $100,000 monthly consulting fees, a $2 million bonus, and $1.7 million to repay loans. The remaining $2.6 million was not explained. The SEC dropped its investigation in March despite initially recommending enforcement against Faraday Future and its executives.
Jia significantly influences FF Global, which holds major control over Faraday Future’s management and operations. FF Global’s associates and Jia’s family members hold important positions, drawing six-figure salaries. Additionally, a consulting agreement exists with a crypto holding company run by Jerry Wang, Jia’s nephew.
Faraday Future has indicated that FF Global’s control poses risks to its business objectives. FF Global and Jia regained influence over the company after a 2021 merger with a special purpose acquisition company. Jia was reinstated as co-CEO, and later as sole CEO, following board resignations amid tension over Jia’s control.
Faraday Future disclosed payments of $700,000 to a loan company associated with Jia and owes $8.5 million to Leshi Information Technology Co. Ltd., related to Jia’s failed LeEco conglomerate, for advertising services.