Faraday Future is giving significant raises and bonuses to its CEO and founder, despite only delivering 13 cars in its 10-year history and recently letting go of most of its workforce.
In a regulatory filing on Wednesday, the company announced CEO Matthias Aydt’s salary increase to $700,000, along with various bonuses and stock grants. Founder Jia Yueting’s salary is also rising, along with bonuses and stock grants.
Despite financial challenges, Faraday Future secured new financing commitments and is under investigation by the SEC. The company has faced accusations of faking sales and employee layoffs.
Conditions for the raises and bonuses include investment in company shares and full restoration of other employees’ salaries. Bonuses will be paid in installments over time.
Faraday Future did not provide immediate comment on the situation.
