Faraday Future responded to falsified order data only 300 of the 14,000 vehicles were paid for booking

Recently, FF (Faraday Future Chinese: Faraday Future) announced that a special committee composed of the company's independent directors has completed an investigation into the previous inaccurate allegations of J Capital Research shorting companies, and FF said that J Capital Research's short report on the company was seriously inaccurate. The Special Commission's 8-K filing with the SEC shows that there are certain factual inconsistencies in the information released by corporate investors, as well as weaknesses in corporate governance and compliance, but there is no evidence to substantiate the other issues raised in J Capital Research's short-selling report.

The relevant person in charge of FF said: "The 14,000 bookings previously announced by the company may be misleading, but it is not false information. In fact, the reservation form released by the company includes two types of paid bookings and free bookings, of which the company collects more than 14,000 FF 91 bookings, which have the information of all booking users, which is free booking data; and the company's 300 invitation system limited edition FF 91 published by the company is a paid booking form. ”

"Although the self-inspection report proved that it did not have financial fraud, it also revealed some flaws in the company's processes and company management system." FF aspect indicates.

On February 2, FF announced personnel changes after the completion of the investigation: due to certain deficiencies in the company's control and culture, the former chairman of FF, Brian Krolicki, has stepped down and Susan Swenson has taken over as executive chairman. FF Global CEO Bi Fukang, FF founder, chief product and user ecology officer Jia Yueting will report directly to Susan Swenson, and both will have their basic salaries cut by 25%. At the same time, FF will also engage a Chief Compliance Officer (CCO) to submit a dotted report to the Chairman of the Audit Committee and will improve the Company's compliance policies and procedures.

The outside world has been questioning FF for a long time. On October 7, 2021, J Capital Research released a short report against FF, saying that FF is unlikely to sell a car.