Faraday Future has brought back its founder, Jia Yueting, as co-CEO. The decision comes three years after he stepped down during an internal fraud investigation. That probe also triggered an ongoing review by the U.S. Securities and Exchange Commission.
Jia will now lead the EV startup alongside current CEO Matthias Aydt. His new role covers finance, legal, and supply chain operations. The move was announced Thursday during a press conference.
Aydt, a longtime Faraday insider, once faced his own controversy. He was put on probation after offering a board member $700,000 to resign during a bitter internal feud. Despite that, he remained a key figure at the company.
Jia’s return follows another family-linked decision. Just a month earlier, Faraday named his nephew, Jerry Wang, as company president. Wang had resigned in 2022 after failing to cooperate with the same internal investigation that removed Jia.
Jia launched Faraday Future in 2014. At the time, he was riding high on a booming electronics and media empire in China. But that empire collapsed, and Jia left the country to focus fully on Faraday.
Since then, the EV company has struggled. It has spent over $3 billion developing its flagship vehicle, the FF91. The car is positioned as an ultra-luxury electric option to rival Tesla. But so far, only about a dozen units have been sold.
Some lawsuits have accused the company of inflating its sales figures. Critics say Faraday’s vision hasn’t lived up to its hype.
Jia’s comeback signals a bold shift for the company. Supporters hope his return will reignite momentum. But many still question the move, given the company’s rocky past and leadership struggles.
With product delays, legal issues, and trust at stake, the road ahead for Faraday Future remains uncertain.
