Faraday Future Promotes Founder Jia Yueting to Executive Officer

Faraday Future, an intelligent electric mobility company, on March 1 announced a decision to restore founder and Chief Product and User Ecosystem Officer Jia Yueting’s Section 16 officer and executive officer status. The company had previously removed Jia as an executive officer in April last year.

The Chinese businessman will now report directly to the board alongside the Global CEO, Chen Xuefeng. The company said the decision was made considering Jia’s significant contributions to recent financing and the approval of proposals such as increasing authorized shares at the recent special stockholders meeting, among other things.

“With Jia in charge of Product and the Mobile Ecosystem, I.A.I, and Advanced Technology R&D departments, Chen can now focus on the manufacturing side of the business, especially as the FF 91 Futurist is about to enter the key stage of start of production (SOP),” explained Adam He, Chairman of the Board.

Faraday Future, which has had a history of controversies since its founding in 2014, is targeting a SOP date for its FF 91 Futurist of March 30, at the company’s Hanford, California manufacturing facility, “FF ieFactory California”. The company hopes to see the first vehicles rolling off of the assembly line in early April, and customer deliveries occurring before the end of April.

Faraday Future expects the FF 91 Futurist to compete with the likes of Ferrari, Maybach, Rolls Royce, and Bentley. The vehicle features 1,050 horsepower, an EPA-certified range of 381 miles, 0-60 mph in 2.27 seconds, and a unique rear intelligent Internet system.

SEE ALSO: Faraday Future Denies Rumors of Founder Jia Yueting’s Return to China

As a model that focuses on the luxury pure electric vehicle market, there is a lot of speculation about the price of FF 91 Futurist in the US, which might range between $250,000 and $280,000, equivalent to between 1.7 million yuan and 1.95 million yuan. Combined with taxes, it is estimated that the price of the new car in China will exceed 2 million yuan.