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Faraday Future executives receive subpoenas from SEC, says it is ‘cooperating fully’

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Faraday Future executives have been subpoenaed by the SEC, according to a filing from the automaker on Thursday. Faraday said certain members of the management team and employees received the subpoenas after its February 1 8-K filing with the SEC.

“Subsequent to the February 1 Form 8-K, the Company, certain members of the management team and employees of the Company received a notice of preservation and subpoena from the staff of the U.S. Securities and Exchange Commission (the “SEC”) stating that the SEC had commenced a formal investigation relating to the matters that were the subject of the Special Committee investigation,” Faraday said in a filing. “The Company, which had previously voluntarily contacted the SEC in connection with the Special Committee investigation, is cooperating fully with the SEC’s investigation.”

The SEC subpoenas were issued less than two months after the company performed an internal investigation showing some employees made inaccurate statements to investors. Faraday had accumulated more than 14,000 reservations for one of its potential models, the FF 91, but said it was “potentially misleading because only several hundred of those reservations were paid, while the others (totaling 14,000) were unpaid indications of interest.” The role of one executive was also described inaccurately to some investors, a past filing added. Additionally, Faraday said its culture “failed to sufficiently prioritize compliance,” leading to the suspension of one executive and pay cuts for two others.

The SEC has launched several investigations into electric vehicle companies that have gone public via a SPAC. Lucid Group and Lordstown Motors are the two most notable. Tesla was recently subpoenaed by the SEC for information on CEO Elon Musk’s stock sale poll last year and related to its 2018 settlement with the SEC.

Tesla had “Faraday” as a backup name before buying “Tesla Motors” trademark for $75k

After the issues two months ago, a special committee was appointed to dissect Faraday’s books with the help of a forensic accountant. The committee found CEO Jia Yuetling’s involvement was misrepresented. Additionally, the company docked Carsten Breitfeld and Jia Yuetling’s base salaries by 25 percent, while Jarret Johnson, VP of General Counsel and Secretary, left Faraday.

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Faraday also stated in the Thursday SEC documents it would not be able to file its Annual Report on Form 10-K for 2021 within the appropriate time period as the internal investigation has delayed this filing. “The Company needs additional time to complete the additional investigative work, and implement such additional appropriate remedial actions and to finalize the Company’s financial statements and related disclosures for both the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2021 (the “Q3 Form 10-Q”) and Form 10-K. The Company continues to evaluate its controls and compliance oversight and may report additional material weaknesses,” Faraday’s filing said.

I’d love to hear from you! If you have any comments, concerns, or questions, please email me at joey@teslarati.com. You can also reach me on Twitter @KlenderJoey, or if you have news tips, you can email us at tips@teslarati.com.

Joey has been a journalist covering electric mobility at TESLARATI since August 2019. In his spare time, Joey is playing golf, watching MMA, or cheering on any of his favorite sports teams, including the Baltimore Ravens and Orioles, Miami Heat, Washington Capitals, and Penn State Nittany Lions. You can get in touch with joey at joey@teslarati.com. He is also on X @KlenderJoey. If you're looking for great Tesla accessories, check out shop.teslarati.com

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Tesla has a ‘no human contact’ approach for Semi production

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Tesla is advancing a fully automated pipeline for the 4680 battery cells used in its all-electric Semi, spanning production from Giga Texas through shipment and direct consumption on the line at the new dedicated Semi Factory in Sparks, Nevada.

The approach was outlined by Tesla at its September 24 Semi Handover event, which launched high-volume production at its new 1.8-million-square-foot plant in Nevada, which sits adjacent to Gigafactory Nevada and is designed for an annual production rate of 50,000 trucks per year.

After years of pilot builds and what was a four-year-long redesign of the truck, Tesla moved the Semi from 2170 batteries to its in-house 4680 cells, which are made in Austin. The change cuts battery mass and total energy while holding range, a key step in making volume production a realistic possibility.

Cells will leave Giga Texas in trailers, and at the Nevada Semi plant, Tesla intends for a dedicated line to unload those trailers automatically, station the cells, and feed them straight into pack and vehicle assembly.

Both Lars Moravy, Tesla’s VP of Vehicle Engineering, and Dan Priestley, the Head of Tesla’s Semi program, described the goal as a “zero human touch point” from the moment the trailer arrives in Texas until a finished Semi drives off the production line in Nevada.

The unloading system that Moravy and Priestley described is just one piece of a much broader automation push. The plant uses what Tesla calls the highest-capacity electric monorail conveyance in vehicle manufacturing, carrying frames-in-white simultaneously. Powder-coating replaces conventional paint, and many processes that would normally require operators have been designed out.

Tesla has repeatedly said that “the best part is no part,” and the cell-handling plan extends that philosophy from the cell factory floor in Texas all the way to final assembly in Nevada.

If executed as described, the closed-loop flow would reduce labor, handling damage, and inventory buffers while tightening quality control on a component that represents a large share of the truck’s cost and weight. It also shortens the physical and organizational distance between two factories separated by more than 1,200 miles. The Semi itself now shares a bar-wound stator and other components with the Cybertruck, further linking Tesla’s passenger and commercial production systems.

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High-volume output is expected to ramp gradually after the first trucks left the new line in April 2026. Early customers include PepsiCo, DHL, and U.S. Foods. Whether the automated trailer-to-line process reaches the promised zero-touch standard will be visible in the coming months as production scales. For Tesla, the Semi factory is another test of how far it can push “the machine that builds the machine” across sites.

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Elon Musk’s AI Grok Bot can now handle banking while your Tesla FSD handles the road

Elon Musk says Grok Bot can manage your finances through linked bank and investment accounts.

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Concept of SuperGrok Bot handling banking in a Tesla via Grok
Concept of SuperGrok Bot handling banking in a Tesla via Grok

Grok Bot now wants access to your wallet, with SpaceXAI rolling out a new Finance integration for its agent platform that lets users link bank, credit card and investment accounts thereby letting their Bots help manage spending, investments and more. Elon Musk amplified the announcement on X with a short endorsement, “Grok Bot can manage your finances.”

The feature builds on two earlier steps. In early September, Grok gained the ability to answer questions about spending, savings, investments and cash flow using accounts connected through Plaid, starting with users in the U.S. Before that, on August 28, SpaceXAI let Grok Bot buy things online through Link, with users approving every spend request and the Bot receiving a single use card for each payment.

Musk has already shown how far he wants users to push it. In late August, when Tesla investor account Teslaconomics said he was weighing whether to give Grok Bot access to his bank accounts, Musk replied, “Try it out. If Grok Bot messes up, we will make you whole.” That promise goes beyond SpaceXAI’s consumer terms, which make users responsible for what their agents do and generally cap the company’s liability at the greater of fees paid or $100. SpaceXAI’s own documentation recommends requiring approval for purchases and financial transfers.

For Tesla owners, the update lands five days after Tesla brought Grok Bot into its vehicles, letting drivers hand off errands by voice while FSD (Supervised) handles the road. Bot access inside the car is currently limited to SuperGrok Heavy subscribers, though Connectors are open to anyone signed into Grok. With Finance linked, a driver could ask for a spending summary or a check on upcoming bills during the commute.

Grok’s role in the car has grown quickly since Tesla’s Summer Update let it control cabin features by voice. We have been using Grok Bot in our own Tesla for several weeks, and here’s how our latest test went.

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SpaceX just got the green light Starship has waited years for

The FAA has cleared Starship Flight 14, setting up SpaceX’s first orbital attempt on Monday.

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SpaceX has cleared the last regulatory hurdle standing between Starship and its first trip to orbit. The Federal Aviation Administration issued the launch license for Starship Flight 14 late Saturday, keeping the mission on track for liftoff Monday, September 28, from Pad 2 at Starbase, Texas.

The 75 minute launch window opens at 7:15 a.m. Central, and Boca Chica Beach closures are also scheduled for September 29 and 30 as backup dates. This will be Starship’s first revenue generating mission.

The license was the missing piece after SpaceX completed a full wet dress rehearsal with Booster 21 and Ship 41 on September 24. At the time, the company said the flight remained on track pending regulatory approval. Because Flight 14 flies an orbital profile, the FAA had to sign off on a modified license that met its safety, payload and financial responsibility requirements.

Observers combing through the new FAA paperwork also noticed that lightning no longer appears among Starship’s listed launch hazards. If that holds, it matters more for where Starship is headed than for Monday’s attempt. Florida and Louisiana, home to LC-39A and the planned Starbase Louisiana site, see some of the most frequent lightning in the United States.

SpaceX tells the FCC that Starship Flight 14 is going to orbit

Flight 14 is the mission SpaceX has been building toward for months. Ship 41 will carry 26 Starlink V3 satellites, the first operational V3 units to be deployed, and attempt roughly six orbits at about 275 kilometers over a flight lasting just under 10 hours. SpaceX says the ship will only perform its orbital insertion burn after flight controllers confirm enough hardware redundancy remains for the deorbit burn at the end of the mission. Ship 41 is targeting a splashdown in the Pacific west of Chile, while Super Heavy will return to the Gulf of Mexico.

The date carries some symbolism as well. A Monday launch would come 10 years and one day after Elon Musk first presented the Interplanetary Transport System, the design that became Starship, at the International Astronautical Congress in Guadalajara, Mexico.

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SpaceX has not announced what comes next, but air traffic planning slides reported this week, list Flight 15 no earlier than October 19 and a first Starship launch from LC-39A in Florida no earlier than October 30. Both dates depend on how Monday goes.

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