Faraday Future’s New Chairman Confirmed After Evergrande Group Chair’s First Visit to Los Angeles

Faraday Future (FF), the California-based electrical vehicle start-up, confirmed on July 15 that Xia Haijun, CEO of Evergrande Group, has assumed the post of FF’s chairman. Jia Yueting, the founder of FF, continues in his role as the global CEO.

SEE ALSO: Evergrande Group Invested $860 Million in Start-up Faraday Future, Now Largest Shareholder

Evergrande Group announced to invest $880 million in FF in June through acquiring 100 percent of Season Smart Limited, which led to the indirect acquisition of 45 percent of shares of Smart King Ltd., a subsidiary jointly set up by Season Smart Limited and Faraday Future.

Xu Jiayin, chairman of the board of directors of Evergrande Group, paid his first visit since the acquisition to the headquarters of Faraday Future in Los Angeles last Friday (local time).

Jia accompanied Xu through the entire visit. During the visit, Xu visited several essential departments of FF including the electrical laboratory, the vehicle safety center, and the autonomous driving department. Xu also experienced a ride in an FF91 electric car, FF’s first mass-produced vehicle and flagship model.

Xia Haijun, the newly appointed chairman of FF and deputy chairman on the board of director of Evergrande Group, was also in the visit along with all of FF’s senior executives.

FF’s mass production is said to be going as planned and will be delivered on time, but no specific production figures were disclosed. In its latest announcement, the EV company has set the final delivery time at the end of 2018.