Faraday Future Acting CEO Leaving Right Before CES Show Supercar Launch

The odds of Faraday Future facing imminent collapse might have gone up as the company’s chief executive left on the eve of the product launch in Las Vegas.

Ding Lei, a LeEco executive who’d been serving as acting “global” CEO, has left that role with FF, according to The Verge and reported by Autoblog. Earlier news reports said Lei would be leaving parent company LeEco, but a company spokesperson has since confirmed that he’s still employed there.

Timing is unfortunate for the company. FF has been sending out teasers, including video streaming over social media, of its first electric supercar reveal set for the annual CES show in Las Vegas. The image above comes from one of those videos.

CES, formerly called Consumer Electronic Show, is scheduled to start on Jan. 5. The startup unveiled its FFZero1 concept supercar there earlier this year.

The acting CEO is leaving right after reports surfaced on two other FF executives leaving the company. Marco Mattiacci had come from Scuderia Ferrari, Ferrari’s racing division, and was serving as chief brand and commercial officer; Joerg Sommer, an ex-Volkswagen executive, had been hired as product marketing and growth vice president.

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The Verge gave a comprehensive report last week on a half-dozen former FF executives being interviewed who said the company is being mismanaged. Much of that stems from parent company LeEco and founder Jia Yueting treating FF executives with “indentured servitude,” according to one former executive.

FF is reportedly well behind on unpaid bills to vendors, and has been hit by lawsuits from some of them.

Work at FF’s future factory site in North Las Vegas has also reportedly stopped, according to Autoblog.


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