Downcast electric car company Faraday Future (FF) is being reported to have secured $1 billion in investments in what could be a potential lifeline for its operations.

According to multiple Chinese outlets, including Shanghai Securities News and Yicai Global, Jia Yueting, founder, and CEO, delivered the news to employees in a Dec. 13 all-hands meeting. It is not yet known who led this latest round of funding, and it has not been confirmed by FF. A second report by Yueting mentioned his reinstatement as the company’s CEO after relinquishing control.

This latest report, counted as a rumor until greater confirmation, marks the second in consecutive months on Faraday Future’s funding sources. Last month, Gasgoo, a Chinese automotive news aggregator, reported a $900 million investment by Tata Motors, India’s sixth largest auto manufacturer, in exchange for a 10-percent stake in the company. This rumor has since been debunked by a Tata spokesperson with a short statement to India’s Daily News and Analysis at the time.

“The news is not true, and hence we do not have any comment,” said the spokesperson.

All in all, Faraday Future has faced severe headwinds from all angles, from large-scale employee resignations, a highly publicized falling out with its former CFO over “malfeasance and dereliction of duty,” and rumors of $75 million worth of diverted funds to a trust fund Yueteng set up for his children.

Other issues included ceased production on proposed Nevada, Texas, and Calif. battery factories, along with debts in the $100 million-plus range to various vendors. Former employees, such as ex-BMW alumnus CFO Stefan Krause and CTO Ulrich Kranz, have even started a competing company called Evelozcity.

Yicai Global