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according to news reports, documents submitted by faraday future to the u.s. securities and exchange commission on september 10 local time showed that the company will increase the salaries of ceo matthias aydt and founder jia yueting. ceo aydt's annual base salary will be increased from us$400,000 to us$700,000, and founder jia yueting's annual base salary will be increased from us$450,000 to us$680,000 (approximately rmb 4.83 million), a salary increase of us$230,000 (approximately rmb 1.63 million), an increase of more than 50%.

in addition, according to cailianshe, jia yueting also received a one-time recognition bonus of us$500,000, an annual discretionary target bonus of us$816,000, and two annual stock awards with a total value of more than us$4 million.

according to yinshi finance, faraday future responded to the salary adjustment by saying that jia yueting and matthias were appointed to new roles in february and september 2023, respectively, but the salary adjustment has not been implemented. the company recently regained nasdaq compliance and completed a new round of financing, which allows it to calibrate its salary. although the salary adjustment is made, the two can only be paid in full according to the above standards when all employees of the company resume full salary.

since faraday future's current new car delivery and financial situation are not optimistic, the move to raise executives' salaries at this time has also caused controversy from the outside world.

in response, faraday future said that the company continues to implement cost-cutting and efficiency-enhancing measures, and most executives and employees, including jia yueting and matthias, have reduced their actual salaries and are not getting full pay. even so, the two will fulfill their previous promises and implement the executives' shareholding increase plan, which will be from september to november this year; at the same time, the two additionally promised that starting from december this year, before all employees' salaries are restored to 100%, they will continue to implement this shareholding increase plan. this move reflects their full confidence in the company's development.

it is worth noting that faraday future announced on its official account on september 6 that the company had successfully obtained $30 million in financing commitments from the middle east, the united states and asia.

on the same day, jia yueting posted on weibo that he had received confirmation from nasdaq that ffie had officially regained listing compliance, the risk of delisting since the beginning of this year had finally been eliminated, and the battle to defend his dream had finally come to an end.

jia yueting said that he has finally removed the shackles of listing compliance and can move forward with full strength. during this period, we have done a lot of things under tremendous pressure, made many decisions that were seriously misunderstood by everyone, and experienced too much torment and grievances.

shortage of funds has been the crux of ff’s long-term operational difficulties.

on august 15, ff released its second quarter 2024 financial report, which showed that in the first half of 2024, faraday future achieved cumulative revenue of approximately us$295,000; with a significant reduction in r&d and sales costs, the net loss dropped from approximately us$270 million in the same period last year to approximately us$157 million (approximately rmb 1.1 billion).

judging from the above data, ff's performance is developing in a positive direction. however, ff's overall financial pressure is still severe. the financial report shows that as of june 30, ff's total book assets were approximately us$458 million, total liabilities were approximately us$309 million, and net assets were approximately us$149 million. not only that, ff's operating cash was only us$29.1 million.

ff said that it expects its operating costs to continue to narrow year-on-year in 2024. based on current business needs and financial conditions, the company has adjusted its operations and employee size, and will continue to promote vehicle production and delivery.

faraday future was founded in may 2014, a decade ago, but the total sales of its models are only 13. during this period, the company was frequently exposed to financial constraints, salary cuts and layoffs, and rent arrears. the launch and mass production of its only model, ff 91, were also repeatedly delayed.

from january to june 2024, faraday future only delivered two new cars. one of the cars was purchased by a transportation service company founded by oscar winner morgan freeman, which will be used to provide vip car services; the other car was purchased by an individual investor. in other words, faraday future's revenue in the first half of this year mainly came from the sales revenue of these two cars.