Faraday Future founder named co-CEO three years after being sidelined by internal probe

Tech Crunch - Apr 25th, 2025

Faraday Future, a beleaguered electric vehicle startup, has reinstated its founder Jia Yueting as co-CEO, three years after he was sidelined during an internal investigation into fraud allegations. The appointment comes at a critical time for the company, which continues to face scrutiny from a lingering SEC investigation. Jia will work alongside current CEO Matthias Aydt, who has his own controversial history with the company, including an offer to pay a board member to resign. This leadership reshuffle follows the recent appointment of Jia's nephew, Jerry Wang, as president, who himself resigned in 2022 due to non-cooperation with the internal probe.

Faraday Future, established by Jia in 2014 after the collapse of his electronics and media empire in China, has struggled to fulfill its vision of producing the ultra-luxury FF91 electric vehicle. Despite spending over $3 billion in development, the company has only sold a handful of vehicles and faces allegations of misrepresenting sales figures. Jia's return to a leadership role raises questions about the company's future direction and its ability to navigate ongoing legal challenges. This development is pivotal as Faraday Future seeks to stabilize its operations and regain investor confidence in a competitive EV market.

Electric Vehicles Faraday Future Jia Yueting Matthias Aydt Jerry Wang Sec Investigation Corporate Leadership

Story submitted by Fairstory

RATING

5.8

Moderately Fair

Read with skepticism

The story effectively reports on recent leadership changes at Faraday Future, focusing on the appointment of Jia Yueting as co-CEO and the company's ongoing challenges. It is timely and relevant, addressing issues of public interest such as corporate governance and the electric vehicle industry's struggles. The article is generally clear and readable, though it could benefit from additional context and source transparency to enhance accuracy and balance. While the story highlights controversies that may provoke debate, some claims lack independent verification, affecting its overall reliability. Despite these limitations, it provides a comprehensive overview of Faraday Future's current situation, engaging readers interested in the company's future and the broader industry landscape.

Accuracy

The story accurately reports the appointment of Jia Yueting as co-CEO of Faraday Future, which is confirmed by official filings. However, some claims, such as Matthias Aydt's probation incident and Jerry Wang's recent presidency, lack independent verification. The story's assertion about Jia being sidelined three years ago following an internal probe aligns with known events, but the details are not fully corroborated by available sources. The financial figures regarding the FF91's development and sales are consistent with industry reports, supporting the story's credibility in these areas.

Balance

The story presents a critical view of Faraday Future, focusing on internal struggles and leadership changes. While it highlights controversies, such as allegations of fraud and misrepresentation of sales, it lacks perspectives from the company's management or other stakeholders that might provide a more balanced view. The focus on negative aspects could suggest a bias against the company, potentially omitting positive developments or future prospects.

Clarity

The story is generally clear, with a logical flow that outlines the key events and claims. It effectively communicates the main points about leadership changes and the company's challenges. However, some complex issues, such as the ongoing SEC investigation and internal power struggles, could benefit from additional context or explanation to enhance clarity. The language is straightforward, but the lack of detailed background information on certain claims may affect comprehension.

Source quality

The story does not explicitly cite its sources, which affects the assessment of source quality. The information aligns with known events and industry reports, suggesting reliance on credible sources. However, without direct attribution, it's challenging to evaluate the reliability and potential biases of the sources used. The lack of identified sources limits the ability to assess the authority and credibility of the information presented.

Transparency

The story lacks transparency regarding its sources and the basis for its claims, such as the details of internal probes and boardroom struggles. There is no explanation of the methodology or context for the allegations against Jia Yueting and Matthias Aydt, which affects the story's transparency. The absence of disclosed conflicts of interest or clarifications on how information was obtained reduces the reader's ability to fully understand the story's context and potential biases.