Former LeEco and Faraday Future founder Jia Yueting recently appeared via video at the China Enterprise Leaders Annual Conference held in Peking, addressing concerns regarding his "return to China". He revealed that he has guaranteed over 10 billion USD in debts for LeEco and currently owes about 2 billion USD. According to his agreement with creditors, as long as he repays 40% of that, approximately 700 to 800 million USD, and completes the debt repayment in the Chinese court, he can return to China.
Jia Yueting also disclosed that he had experienced global debt collection attempts from creditors, underwent an extensive investigation by US courts, and even had every pair of socks in his home counted. Ultimately, he successfully won various defamation lawsuits. He described the past eight years as navigating another exploratory path, where he was "almost scrutinized under a microscope," paying for previous decision-making mistakes at LeEco. He emphasized that he has completed personal debt restructuring in the USA and currently has no personal debt.
On the other hand, Jia Yueting also revealed the future plans for Faraday Future at the annual conference, stating that the company will continue to focus on the research and development of Electric Vehicles and the production of high-quality, high-performance smart electric vehicles. A detailed financing plan has been formulated, with hopes to raise an additional 30 million to 50 million USD in the next 2 to 3 months.