In a recent article, American automotive publication Jalopnik uncovered some lesser-known details about Jia Yueting and the electric vehicle startup Faraday Future (FF). The piece revealed that Jia’s previously untouchable image has begun to crumble. Some former employees even claim that as long as Jia remains in control of FF’s future direction, the company will never manage to sell a single car.
The article highlights a striking contrast between Jia’s personal life and the struggles of the company he founded. In Rancho Palos Verdes, California, a luxurious 725-square-meter home sits on a scenic coastline, offering panoramic views of the Pacific Ocean. This two-story property features six bedrooms, seven bathrooms, a three-car garage, and complete privacy—so exclusive that it doesn’t even appear on Google Maps. While the house itself is not unusual, its ownership is. It's registered under a shell company called Ocean View Drive Inc., which is linked to Chaoying Deng, a high-ranking executive at Faraday Future.
According to previously unrevealed documents, Ocean View was led by Jia Yueting himself in 2016, when he was still seen as one of China’s most promising tech entrepreneurs. Despite Faraday Future’s ongoing financial troubles, this luxury property remains untouched. In fact, the mansion has become a symbol of controversy within the company, often referred to internally as “Clubhouse.†According to four insiders who spoke with Jalopnik, the house serves multiple purposes: it's a temporary residence for new hires, a meeting space, and a private venue for extravagant events. One source mentioned that $2,000 bottles of whiskey and wine were common at these gatherings.
This lavish lifestyle stands in sharp contrast to the chaotic state of Faraday Future. Recently, more executives have left the company, leaving Jia to try to salvage his reputation as a lone entrepreneur. The company once promised to revolutionize the auto industry with futuristic, fully customizable electric vehicles. In 2015, Nick Sampson, then senior vice president, claimed that the car would "read your cravings, understand your preferences, and know where you want to go."
However, despite numerous prototypes and ambitious promises, Faraday Future has delivered little in terms of real products. Last year, its flagship model at CES became a laughingstock due to severe financial issues. This year, the situation seems eerily similar. The company continues to face internal challenges, including a brain drain, dwindling cash reserves, and new legal troubles over unpaid bills and rent.
When approached by Jalopnik, Faraday Future declined to comment, stating that as a private company, it would not discuss any financial or business-related matters. Yet, the company is now at a critical crossroads. Jia Yueting remains at the center of the storm, much like he did with his previous venture, LeTV, which also faced financial collapse.
Seven sources, including former employees and insiders, told Jalopnik that the only way forward for Faraday Future is to remove Jia from leadership. Michael Dunne, an automotive expert, acknowledged Jia’s past success but said he has lost his ability to lead effectively. “He’s proven he can be a great entrepreneur,†Dunne said, “but right now, he’s out of touch.â€
As the company teeters on the edge, many are wondering whether Jia Yueting will finally step down—or if he’ll continue to hold onto power, risking everything in the process.
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