Evergrande Health, the investor that bailed out besieged electric vehicle startup Faraday Future in a deal worth $2 billion this summer, is now accusing it of attempting to break an agreement it made with previous backer Season Smart. In June, Evergrande Health announced that would it take over the financial commitment made by Season Smart last […]
View More Faraday Future investor Evergrande Health now says the troubled startup is trying to back out of dealCategory: Jia Yueting
Beleaguered electric vehicle firm Faraday Future gets $2B investment boost
There’s a rare moment of cheer for floundering electric car maker Faraday Future after it landed a new investor and a fresh commitment of capital. Evergrande Health, a division of Hong Kong-listed Evergrande, has taken a 45 percent stake in Faraday Future in a deal worth a total of $2 billion. Evergrande Health has taken over an […]
View More Beleaguered electric vehicle firm Faraday Future gets $2B investment boostLeshi Internet says it must repay $890 million in debts by the end of 2018
Leshi Internet, one of China’s largest video-streaming services, disclosed that it must pay back 5.62 billion RMB (about $890 million) by the end of this year. Leshi Internet’s (also known as Le.com) heavy debts stem from a financial crisis at its sister company LeEco, both of which were founded by Jia Yueting. Jia resigned as Leshi Internet’s chief executive officer last year. Read More
Debt-laden tech firm LeEco’s founder ordered to return to China by securities commission
The founder of beleaguered tech conglomerate LeEco is facing yet another huge headache. Jia Yueting has been ordered by the China Securities Regulatory Commission’s Beijing branch to return to the country by the end of this month and deal with the company’s debts. In an unusual public letter posted Monday, the CSRC said Jia’s failure to repay debts is “a serious… Read More