(Reuters) – Faraday’s Future, the founder and ceo Jia Yueting has filed for bankruptcy in the United States of america, and plans to turn over his stake in Chinese electric car company pay back its personal debt, the company said.
Yueting, the plan will have no impact on Faraday’s Future, of the company’s operations, according to the company, which has ambitions to catch up, Tesla, Inc.
Faraday’s Future, added to that of the CEO, Yueting will be able to focus on the U.S. and China are dual-home market strategy, and help you to prepare for an initial public OFFERING.
Yueting personal net debt to around $2 billion, according to the company.
Reporting Ambhini Festivals in Bengaluru; Editing by Shinjini Ganguli