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The Shocking Inside Story of Failing Faraday Future

Faraday Future used to be an exciting new electric car startup unveiling their FF91 SUV at the CES a while back. However, since then the fortunes have not turned for the better for the Chinese backed company, and it is now considered to be weeks, if not days, away from bankruptcy.

As more reports are coming out about what is behind this huge failure and it seems that company’s self-proclaimed CEO, who goes by the nickname “YT”, seems to be the one to blame. Not only he has made himself an acting CEO even though he is just one of the investors, he has also put people in charge of accounting who did not have enough experience to do so and that caused many financial troubles for the company.

Now YT is on the “black list” of the Chinese government for owning way too much money to his investors, and he is no longer allowed to borrow or spend money on the lavish lifestyle. There was also report that came out earlier this year accusing YT of using Faraday Future money for his kids college fund.

I’ll keep my eye on this story but it looks like it’ll be one of the last for this once promising electric car startup.

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