Recently, Faraday Future (FF)'s headquarters in Los Angeles, the landlord of Wrexford Industries, filed a lawsuit against it in the Los Angeles Superior Court, accusing Faraday Future of defaulting on rent, as well as related maintenance and taxes, totaling 91,78726 US dollars (about 660,000 yuan) and demanded that the building be repossessed.
In fact, the building used to belong to Faraday Future, which Jia Yueting bought for $13.2 million in 2014, but was later sold to Atlas Capital, a New York real estate company, due to lack of funds.
Behind this is Faraday Future's very serious financial pressure, but Jia Yueting's crisis does not stop there, after the company received a delisting warning because its share price has been below the minimum standards set by the Nasdaq exchange for a long time. According to NASDAQ regulations, if a listed company has a price of less than $1 for 30 consecutive days, it may face the risk of delisting. In the face of many difficulties, Faraday Future is still trying to find a solution. The company responded that they are actively negotiating with the landlord and hope to resolve the rent arrears as soon as possible.
In fact, it is not only the Los Angeles landlord who is asking Jia Yueting for rent, but Faraday Future's office in San Jose has also been sued by the landlord BXP Realty for non-payment of rent, and the balance that has not yet been settled has reached 12731116 US dollars, about 920,000 yuan, after BXP Realty had used Faraday Future's security deposit to settle the rent in January and asked for the balance, but Faraday Future did not pay, so the landlord wanted to evict the company.
Since 2014, Jia Yueting's Faraday Future has spent billions of dollars, but so far only 11 new cars have been delivered, including one purchased by Jia Yueting himself, but Jia Yueting remains optimistic and determined, believing that Faraday Future is currently in its "best stage of development". It has to be said that Faraday's future prospects are full of uncertainties, and it is indeed very rare to continue to build a car in the midst of such a crisis.