Yueting Jia
About Yueting Jia
Yueting “YT” Jia (age 50) is FF’s Founder and currently serves as Chief Product and User Ecosystem Officer (since September 2019), after serving as CEO from 2017 to September 2019. He founded Xbell Union Communication Technology (2003; China’s first mobile video streaming software system), LeTV (2004), and LeEco (2011), and founded Faraday Future in 2014, defining and leading the creation of the FF 91. In his current role he oversees product innovation and strategy, internet/AI/autonomous driving, user experience and operations, capital markets, HR/administration, corporate strategy, and China operations, reporting directly to the Board . FF’s auditor reports for 2022–2023 included a going concern emphasis, underscoring execution risk for the platform Mr. Jia is driving .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Faraday Future | Chief Product & User Ecosystem Officer | Sep 2019–Present | Leads product innovation, internet/AI/autonomous, user operations; capital markets and China strategy |
| Faraday Future | Chief Executive Officer | 2017–Sep 2019 | Led FF’s early development; defined and led creation of FF 91 |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Xbell Union Communication Technology (Singapore-listed) | Founder | 2003 | Developed and launched China’s first mobile video streaming software system |
| LeTV | Founder | 2004 | Built a leading video streaming website in China |
| Le Holdings (LeEco) | Founder | 2011 | Built an internet ecosystem across smartphones, TV, smart cars, sports, finance, cloud |
Fixed Compensation
| Metric | FY 2023 |
|---|---|
| Base Salary ($) | $390,750 |
| Target Bonus ($) | $350,000 |
| Actual Bonus Paid ($) | $50,000 |
Notes: At the beginning of FY2023, Mr. Jia’s annualized base salary was $450,000; all named executive officers accepted a temporary salary reduction to annualized $66,000 for Oct–Nov 2023, followed by a 30% reduction in December 2023 as part of cost initiatives .
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Discretionary annual performance bonus | n/a | $350,000 | $50,000 | Cash $50,000 | Paid for FY 2023 |
No specific quantitative performance metrics (revenue/EBITDA/TSR) tied to Mr. Jia’s bonus were disclosed in the proxy .
Equity Ownership & Alignment
| Metric | As of Jun 18, 2024 | As of Jan 28, 2025 |
|---|---|---|
| Beneficial Ownership (Shares) | 4,777 | 268,538 |
| Ownership as % of Outstanding | <1% | <1% |
Outstanding Equity Awards (as of Dec 31, 2023):
| Grant Date | Exercisable Options (#) | Unexercisable Options (#) | Exercise Price ($) | Expiration | Vesting Schedule Next Steps |
|---|---|---|---|---|---|
| 12/15/2022 | 2,356 | 2,356 | 213.60 | 12/15/2032 | 4 equal annual installments on March 29 each year through Mar 29, 2027 |
Additional alignment signals:
- To the Company’s knowledge, Mr. Jia has not sold any shares since FF became a public company .
- Hedging and pledging of Company securities are prohibited for directors/officers/employees/consultants under FF’s insider trading policy .
- Stock ownership guidelines: Global CEO 6x base salary; other executive officers 2x base salary; non‑employee directors 3x annual cash retainers; retain 50% of after-tax shares until compliant. As of the Record Date, covered executives/directors were either compliant or within the phase-in period .
No RSUs/PSUs were shown outstanding for Mr. Jia in the FY2023 year-end awards table .
Employment Terms
| Term | Details |
|---|---|
| Offer Letter | March 2021 (Founder and Chief Product & User Ecosystem) |
| Base Salary (Offer Letter) | $600,000 |
| Bonus Eligibility | Discretionary annual performance bonus up to $350,000 |
| Severance / Non‑Compete / Non‑Solicit | Not disclosed in proxy for Mr. Jia |
| Equity Plan Terms | 2021 Plan allows Board discretion on acceleration/settlement upon change‑of‑control |
| Clawback | Awards subject to forfeiture/recoupment under Company clawback policy and applicable law |
Related Party Transactions
- FF historically funded operations through related party notes payable, significantly funded by entities controlled or previously controlled by Mr. Jia; outstanding principal was $9.8 million as of December 31, 2023 (vs. $9.0 million in 2022) .
- X‑Butler leased two Rancho Palos Verdes properties from Mr. Jia (used by FF for employee housing and events) and provided services; FF paid X‑Butler less than $0.1 million in 2023 .
- Ocean View Drive Inc. (formerly controlled by Mr. Jia; currently owned by a relative’s spouse) previously acted as a conduit for certain loans; FF advanced funds for prior real estate purchases and related expenses; no receivable outstanding at 12/31/2023. FF paid approximately $0.2 million on behalf of Ocean View in February 2023 related to a seized judgment; the Company later received the return of the indemnification payment in April 2023 .
Performance & Track Record
- Audit going concern emphasis: Mazars’ reports for 2022 and 2023 included an emphasis of substantial doubt regarding FF’s ability to continue as a going concern; Mazars resigned in April 2024, and MGO was appointed as new auditor in June 2024 .
- Financing and dilution context: On February 10, 2025, FFIE sought stockholder approval to issue large blocks of common stock tied to exchange, secured, and unsecured convertible notes and warrants totaling potential issuance of roughly 157+ million shares across financings, highlighting continued reliance on external capital and potential dilution dynamics .
Compensation Committee / Governance Policies
- As an emerging growth company, FF is not required to provide a CD&A or to conduct say‑on‑pay advisory votes; scaled executive compensation disclosures are provided instead .
- The 2021 Plan expressly permits option/SAR repricing without stockholder approval, which is generally considered a governance red flag .
Investment Implications
- Alignment and selling pressure: Mr. Jia has not sold shares since FF became public, and hedging/pledging are prohibited, reducing near‑term insider selling/pledging risk; however, his ownership is <1%, limiting “skin‑in‑the‑game” influence on outcomes .
- Equity incentive design: Mr. Jia’s current equity exposure centers on a 12/15/2022 stock option grant (exercise price $213.60, vesting through 2027), with no RSUs/PSUs outstanding as of FY2023 year‑end; absence of disclosed performance‑linked equity for 2023 reduces direct pay‑for‑performance ties .
- Governance risks: The 2021 Plan’s allowance for option/SAR repricing without stockholder approval and the auditor’s going concern emphasis signal governance and execution risk that can impact compensation outcomes and investor confidence .
- Dilution and financing overhang: The 2025 proxy proposals contemplate substantial share issuance tied to convertible notes/warrants, creating dilution risk and potential overhang that may influence management’s compensation strategy and equity award realizability .