Caixin
Feb 03, 2022 07:25 PM
BUSINESS

Troubled EV-Maker Faraday Future Punishes Executives for Releasing Fake Data Before 2021 Listing

The Faraday Future logo is displayed on the steering wheel of an FF91 electric car in Las Vegas, Nevada, U.S.,in 2017. Photo: VCG
The Faraday Future logo is displayed on the steering wheel of an FF91 electric car in Las Vegas, Nevada, U.S.,in 2017. Photo: VCG

Faraday Future Intelligent Electric Inc., the embattled electric vehicle (EV) maker founded by controversial Chinese tycoon Jia Yueting, has admitted releasing inaccurate vehicle booking figures.

The Nasdaq-listed company said in a Tuesday exchange filing that its previous statements about receiving more than 14,000 reservations for the FF91 vehicle were “potentially misleading,” as only several hundred of those reservations were paid while the others — which totaled 14,000 — were merely unpaid indications of interest.

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