Faraday Future(US:FFIE) Feng Huang Wang·2025-07-16 23:53Core Viewpoint - The U.S. Securities and Exchange Commission (SEC) has issued Wells notices to Faraday Future's founder Jia Yueting and President Wang Jiawei, indicating potential enforcement actions due to a three-year fraud investigation related to misleading statements during the company's SPAC merger in 2021 [1][2]. Group 1: SEC Investigation - The SEC has suggested enforcement actions against Faraday Future, Jia Yueting, Wang Jiawei, and two unnamed former employees due to alleged false and misleading statements made during the SPAC merger process [1][2]. - The investigation has been ongoing since shortly after Faraday Future's listing in July 2021, with new board members expressing concerns over misleading public statements and undisclosed control by Jia Yueting [2]. - An internal investigation was initiated by the board, which confirmed the concerns and led to Jia Yueting being marginalized and Wang Jiawei resigning for non-cooperation [2]. Group 2: Company Developments - Despite the SEC investigation, Jia Yueting has reestablished his leadership role at Faraday Future [3]. - Faraday Future announced a new financing round of $105 million, which is expected to provide sufficient funds for the launch of the new FX Super One model and accelerate the development of FF and FX brand products and AI-related technologies [3].