Faraday Future has appointed founder Jia Yueting as co-CEO alongside current CEO Matthias Aydt, amid ongoing challenges for the electric vehicle startup. Yueting's return follows a hiatus due to an internal probe involving allegations of fraud that triggered an SEC investigation. His nephew, Jerry Wang, has recently taken on a key position as president before resigning in 2022 due to the investigation. Initially founded in 2014, Faraday Future has struggled to sell its ultra-luxury EV, FF91, despite investing over $3 billion into development.
Jia Yueting's return as co-CEO comes three years after a fraud investigation, showcasing Faraday Future's ongoing internal struggles amidst its ambitions in the EV market.
Appointment of Jia Yueting alongside CEO Matthias Aydt illustrates the power dynamics within Faraday Future, particularly following multiple controversies and a failed internal investigation.
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