On October 9th, "Grow Fandor" company announced its official registration in the USA and China. The company was established by a group of partners from China and the USA, currently including over 10 core members from industries such as internet, autos, and video. Jia Yueting is the founding partner and IP of the company. Jia Yueting stated that he will gift 10% of his personal holdings in the company to Faraday Future (FF). After this move, FF will hold 10% of the company's shares, reducing Jia Yueting's ownership to 7%. He also mentioned that 50% of all future earnings from the company will be invested in FF (through investment or loans), with the other 50% allocated to paying off domestic debts. Any profits gained from investing in FF will also be primarily used for debt repayment.