Oct. 9, 2024
Jia Yueting Establishes IP Company for Faraday's Future Support
Asianfin– "Grow Fandor," a newly established company, announced its official registration in both the U.S. and China. The company was founded by a group of partners from China and the U.S., including more than ten core members from industries such as internet, automotive, and video. Jia Yueting, the founder of Faraday Future (FF), is the founding partner and creator of the company's intellectual property (IP). Jia Yueting revealed that he will donate 10% of his personal shares in Grow Fandor to Faraday Future. Following this move, FF will hold a 10% stake in the company, while Jia’s ownership will decrease to 7%. Additionally, Jia stated that 50% of his future earnings from the company will be directed to FF, either through investment or loans, with the other 50% allocated to settling his domestic debts. He emphasized that any profits derived from his investments in FF will also be primarily used to repay debts in the future. This development marks another step in Jia's ongoing efforts to support Faraday Future while addressing his financial obligations.
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