Faraday Future gives CEO and founder raises and bonuses after delivering 13 cars

Core Viewpoint - Faraday Future is increasing salaries and bonuses for its CEO and founder despite financial struggles and minimal vehicle sales [1][2][3] Group 1: Executive Compensation - CEO Matthias Aydt's salary will increase from $400,000 to $700,000, with additional bonuses totaling $1.2 million and stock grants worth over $4 million [1] - Founder Jia Yueting's salary will rise from $450,000 to $680,000, along with a $500,000 bonus and stock grants exceeding $4 million [1] - Both executives will initially receive pro-rated salaries of $550,000 and $612,000, respectively, and must invest at least $340,000 in company shares [3] Group 2: Financial Condition - The company ended Q2 2022 with only $793,000 in unrestricted cash and recently secured $22.5 million in financing through convertible notes and warrants [2] - Faraday Future has sold only 13 cars in its 10-year history and faces allegations of faking sales, leading to whistleblower lawsuits [2] - The company has laid off or furloughed hundreds of employees, with remaining staff on significantly reduced salaries [2] Group 3: Regulatory and Operational Challenges - Faraday Future is under investigation by the Securities and Exchange Commission, receiving two subpoenas in the first half of the year [3] - The company nearly faced eviction from its Los Angeles headquarters in February 2024 but reached an agreement with the property owner [2]