In the proposed plan, Euting will use its own stake in Faraday Future, the long-troubled start-up EV monetary entity, to create credibility and pay its debts. This is not a complete surprise. Last month, Yueting stepped down as CEO to build that trust. According to Faraday Future, the restructuring will not affect the company's normal business offerings and will actually help prepare for launch for an IPO.
According to The Verge Yueting claims that he owes somewhere around $ 3.6 billion to more than 1
Yueting is expected to continue working with Faraday Future as Chief Product and Consumer Officer, a role in which he will cope. product definition, user experience and AI.