Faraday Future, an electric vehicle company founded by Chinese businessman Jia Yueting, has always been questioned whether it can actually launch a product. Recently, it was listed as not in compliance with the listing requirements due to the delay in the publication of the financial report and was required to be withdrawn by the US Securities and Exchange Commission (SEC). city.
Faraday Future went public in the U.S. through special-purpose acquisitions in July this year, but its financial ability and openness have been questioned. Recently, the U.S. short-seller J Capital Research issued a 28-page report, stating that FF has not been able to operate for 8 years. When a car was officially sold, FF delayed its third quarter financial report.
Due to the failure to submit the financial report within the prescribed time limit, the SEC issued a warning to list FF as a non-compliant company and need to submit a compliance plan within 60 days. The FF said that they had explained the reasons to the SEC and stated that they would not be able to submit a financial report until the report of the short-seller investigation was completed.
Source: CNBC
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