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.
Here is this week’s roundup of China tech and innovation stories.
Evergrande Group, a Shenzhen-based Chinese real estate giant, has acquired 100 percent shares of Season Smart Limited for HKD 6.746 billion($860 million), becoming the British company’s largest shareholder.
Faraday Future, an American electric vehicle startup known as FF, issued a letter to staff today to celebrate its fourth anniversary and provide an update on the company’s progress.
LeEco founder Jia Yueting is welcoming his second white knight after investments by Sun Hongbin, billionaire real estate developer and the founder and chairman of Sunac China Holdings. This white knight came with 300 million U.S. dollars in hand.
YT Jia’s car manufacturing business has made new progress. Faraday Future, an electric vehicle startup backed by LeEco founder YT Jia, announced the opening of its factory in Hanford, California. Photos revealed that the factory is already operating with some personnel and mechanical equipment.