To-Win Capital will sell its shares in ride-hailing business Yidao Yongche at half the undisclosed initial purchase price, the company announced Monday. To-Win, an institutional investor, acquired the business from embattled Faraday Future founder Jia Yueting in 2017.

To-Win claims it has alleviated roughly 6 billion yuan ($884 million) of Yidao’s debt ever since it took over the company from Jia – even though Jia had originally promised that Yidao’s total debts were no more than 2.3 billion yuan.

Debt has long been a problem, however, according to an earlier statement To-Win released regarding Yidao. 

“To-Win’s power is too small,” the company said. “As funding sectors in China are not performing well in general, it would be hard for To-Win to continue its investment in Yidao.”

Currently, Yidao has 3.4 billion yuan in outstanding debt, according to To-Win. To-Win also cited the difficulty of ensuring safety in the ride-hailing sector.

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