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Once-promising Tesla rival Faraday Future hits roadblock amid CEO’s $800M controversy
Once-promising and outspoken Tesla rival Faraday Future has hit another roadblock, as CEO Jia Yueting is being accused by an investor of spending $800 million worth of funds and then attempting to back out of the deal. The investor in question, the healthcare division of Chinese real estate group Evergrande, has noted that it will take “all necessary actions” to protect itself and its shareholders.
Faraday Future has been beset by multiple delays and problems over the past years. Once the company that is branding itself as a startup that would dethrone Tesla from its place in the premium electric car market, the electric car startup has met a slew of problems, from dire financial straits to an exodus of key executives. In addition, Faraday Future’s first vehicle, the ultra-luxury FF 91 SUV, has yet to start production.
Faraday Future received a much-needed lifeline at the end of 2017 by securing a $2 billion investment from Evergrande Health–a subsidiary of property developer China Evergrande Group. Evergrande noted that it had agreed to buy Season Smart Ltd, a firm which owns 45% of Faraday Future, for $860.2 million. The Chinese property developer also agreed to pay Faraday Future $1.2 billion in two installments which are due in 2019 and 2020.
This Sunday, Evergrande revealed that it had signed a supplemental agreement to pay the electric car maker $700 million ahead of schedule. And now, Evergrande noted that Faraday Future CEO Jia Yueting had initiated an arbitration at the Hong Kong Arbitration Center against the Chinese firm, claiming that the promised payment was not fulfilled. Reuters noted that the CEO’s arbitration aims to deprive Evergrande rights as a shareholder for electric car startup as well.
Its trouble with Evergrande is just one of the company’s concerns. Speaking with former employees of the electric car startup, The Verge has noted that Faraday Future is allegedly struggling once more despite the company having spent around $800 million. Due to the company’s alleged financial troubles, the former FF employees claimed that vendors and suppliers had not been paid, and layoffs are being considered. In what seems to be a stroke of misfortune, the company’s first pre-production version of the FF91 reportedly caught fire in late September after the vehicle was showcased at a “Futurist Day” event for employees and their families.
Much of Faraday Future’s troubles are connected to the activities of its CEO. Last year, Jia found himself in China’s official “Blacklist” for credit defaulters. Due to his assets being frozen in China, the Faraday Future CEO currently resides in the United States. His handling of the electric car startup has been polarizing at best. Last year, for example, a disagreement between Jia and Faraday Future’s then-CFO turned public, compromising an attempt to restructure the company through bankruptcy.
It remains to be seen if Faraday Future could eventually get the vehicle to market. When the FF 91 was unveiled, the electric car startup compared it favorably against the Tesla Model S P100D. The FF 91 is a large SUV has a 0-60 mph time of 2.4 seconds, a 130 kWh battery pack, and a range of 289 miles per charge. The vehicle also features a number of nifty tricks, such as LiDAR for self-driving capabilities and four-wheel steering, which gives the vehicle impressive maneuverability.
Elon Musk
Tesla CEO Elon Musk announces major update with texting and driving on FSD
“Depending on context of surrounding traffic, yes,” Musk said in regards to FSD v14.2.1 allowing texting and driving.
Tesla CEO Elon Musk has announced a major update with texting and driving capabilities on Full Self-Driving v14.2.1, the company’s latest version of the FSD suite.
Tesla Full Self-Driving, even in its most mature and capable versions, is still a Level 2 autonomous driving suite, meaning it requires attention from the vehicle operator.
You cannot sleep, and you should not take attention away from driving; ultimately, you are still solely responsible for what happens with the car.
The vehicles utilize a cabin-facing camera to enable attention monitoring, and if you take your eyes off the road for too long, you will be admonished and advised to pay attention. After five strikes, FSD and Autopilot will be disabled.
However, Musk announced at the Annual Shareholder Meeting in early November that the company would look at the statistics, but it aimed to allow people to text and drive “within the next month or two.”
He said:
“I am confident that, within the next month or two, we’re gonna look at the safety statistics, but we will allow you to text and drive.”
“I am confident that, within the next month or two, we’re gonna look at the safety statistics, but we will allow you to text and drive.”
Does anyone think v14.3 will enable this? pic.twitter.com/N2yn0SK70M
— TESLARATI (@Teslarati) November 23, 2025
Today, Musk confirmed that the current version of Full Self-Driving, which is FSD v14.2.1, does allow for texting and driving “depending on context of surrounding traffic.”
Depending on context of surrounding traffic, yes
— Elon Musk (@elonmusk) December 4, 2025
There are some legitimate questions with this capability, especially as laws in all 50 U.S. states specifically prohibit texting and driving. It will be interesting to see the legality of it, because if a police officer sees you texting, they won’t know that you’re on Full Self-Driving, and you’ll likely be pulled over.
Some states prohibit drivers from even holding a phone when the car is in motion.
It is certainly a move toward unsupervised Full Self-Driving operation, but it is worth noting that Musk’s words state it will only allow the vehicle operator to do it depending on the context of surrounding traffic.
He did not outline any specific conditions that FSD would allow a driver to text and drive.
News
Tesla Semi just got a huge vote of confidence from 300-truck fleet
The confidential meeting marks a major step for the mid-sized carrier in evaluating the electric truck for its regional routes.
The Tesla Semi is moving closer to broader fleet adoption, with Keller Logistics Group wrapping up a key pre-production planning session with the electric vehicle maker’s team this week.
The confidential meeting marks a major step for the mid-sized carrier in evaluating the electric truck for its regional routes.
Keller’s pre-production Tesla Semi sessions
Keller Logistics Group, a family-owned carrier with over 300 tractors and 1,000 trailers operating in the Midwest and Southeast, completed the session to assess the Tesla Semi’s fit for its operations. The company’s routes typically span 500-600 miles per day, positioning it as an ideal tester for the Semi’s day cab configuration in standard logistics scenarios.
Details remain under mutual NDA, but the meeting reportedly focused on matching the truck to yard, shuttle and regional applications while scrutinizing economics like infrastructure, maintenance and incentives.
What Keller’s executives are saying
CEO Bryan Keller described the approach as methodical. “For us, staying ahead isn’t a headline, it’s a habit. From electrification and yard automation to digital visibility and warehouse technology, our teams are continually pressure-testing what’s next. The Tesla Semi discussion is one more way we evaluate new tools against our standards for safety, uptime, and customer ROI. We don’t chase trends, we pressure-test what works,” Keller said.
Benjamin Pierce, Chief Strategy Officer, echoed these sentiments. “Electrification and next-generation powertrains are part of a much broader transformation. Whether it’s proprietary yard systems like YardLink™, solar and renewable logistics solutions, or real-time vehicle intelligence, Keller’s approach stays the same, test it, prove it, and deploy it only when it strengthens service and total cost for our customers,” Pierce said.
News
Tesla extends FSD Supervised ride-alongs in Europe by three months
Needless to say, it does appear that FSD fever is starting to catch in Europe.
Tesla appears to be doubling down on its European Full Self-Driving (Supervised) push, with the company extending its demo ride-along program by three months until the end of March 2026. The update seems to have been implemented due to overwhelming demand.
Needless to say, it does appear that FSD fever is starting to catch in Europe.
Extended FSD demonstrations
Tesla EU Policy and Business Development Manager Ivan Komušanac shared on LinkedIn that the company is offering ride-along experiences in Germany, France and Italy while working toward FSD (Supervised) approval in Europe.
He noted that this provides a great feedback opportunity from the general public, encouraging participants to record and share their experiences. For those unable to book in December, Komušanac teased more slots as “Christmas presents.”
Tesla watcher Sawyer Merritt highlighted the extension on X, stating that dates now run from December 1, 2025, to March 31, 2026, in multiple cities including Stuttgart-Weinstadt, Frankfurt and Düsseldorf in Germany. This suggests that the FSD ride-along program in Europe has officially been extended until the end of the first quarter of 2026.
Building momentum for European approval
Replies to Merritt’s posts buzzed with excitement, with users like @AuzyMale noting that Cologne and Düsseldorf are already fully booked. This sentiment was echoed by numerous other Tesla enthusiasts on social media. Calls for the program’s expansion to other European territories have also started gaining steam, with some X users suggesting Switzerland and Finland as the next locations for FSD ride-alongs.
Ultimately, the Tesla EU Policy and Business Development Manager’s post aligns with the company’s broader FSD efforts in Europe. As per recent reports, Tesla recently demonstrated FSD’s capabilities for Rome officials. Reporters from media outlets in France and Germany have also published positive reviews of FSD’s capabilities on real-world roads.
Tesla CEO Elon Musk announces major update with texting and driving on FSD
Tesla Semi just got a huge vote of confidence from 300-truck fleet
