Uh oh for Faraday Future

[JeffK]

Money troubles for Jia Yueting
Chinese Court Seizes Millions in Assets of LeEco Founder as Company’s Troubles Grow

 

[cdub]

It's been uh oh for a long time. None of those cars or Lucid will EVER see the light of day.

 

[JeffK]

It's been uh oh for a long time. None of those cars or Lucid will EVER see the light of day.

Lucid is at least a little more financially separated from LeEco *supposedly*.

 

[cdub]

Lucid is at least a little more financially separated from LeEco *supposedly*.

But they're both tied to the guy who just got his assets frozen right? So that's not good.

 

[teslasuperfan]

But they're both tied to the guy who just got his assets frozen right? So that's not good.

He is only a minority investor in Lucid. Other investors in Lucid are Venrock, Mitsui, Tsing Capital, etc.

 

[RobStark]

Lucid is at least a little more financially separated from LeEco *supposedly*.

A "little?"

FF is a subsidiary of LeEco.

LeEco owned about 7% of Lucid Motors. And was looking to liquidate last I read.

Venrock, the venture-capital arm of the Rockefeller family, and Japanese conglomerate Mitsui own almost half of Lucid Motors. Tsing Capital of China also also owns about a fifth.

 

[brianman]

I really hope Lucid succeeds in at least making more vehicles than Tesla made Roadsters. I have zero confidence any Faraday product will be purchased for < $200k USD by > 5 people.

 

[Cosmacelf]

There are many things that I will only believe exist when I can buy them. Among them are batteries with amazing new energy density, self driving cars, artificial intelligence, and any announced long range EV. Kudos to Tesla and GM for actually shipping some of those.