Faraday will be an electric vehicle startup in the future, and its development prospect is still uncertain. Recently, the company reached an agreement with the largest shareholder FFTop on financing and restructuring the board of directors. FFTop will withdraw its lawsuit against the company and its board of directors, and announce new financing commitments totaling $654.38 billion. At the same time, two important directors were kicked out, and founder Jia Yueting and his team reorganized the board of directors.
However, the company's financial situation is still unstable. By August 3, 2022, the company's cash and cash equivalents were109 million dollars, while its total debt was172.6 million dollars.