FF major shareholder ousts independent director Brian Krolicki from board

On June 26, according to the Financial Associated Press, according to the relevant documents submitted by FF's parent company FFTopHolding LLC (FFTOP) to the US Securities and Exchange Commission (SEC), it has been previously signed with FFIE according to the shareholder agreement signed by the independent chairman of FFIE. Director Brian Krolicki was removed from the board.This is also a further rectification action for Brian Krolicki after he was previously removed from the chairmanship by the FFIE board of directors.According to people familiar with the matter, Brian Krolicki, as the chairman of FFIE, was mainly responsible for the misjudgment of the situation at that time and the launch of an internal investigation, which led to delays in financial reports and delisting risks, and allowed the board of directors to be controlled by a few independent directors. situation.At the same time, FFTOP has also nominated Han Li, a former partner of the internationally renowned law firm O'Melveny & Myers, as an independent director of the FFIE board of directors.

Earlier, Faraday Future CEO Carsten Breitfeld said in an interview that the company will be able to launch its electricluxury car, the FF91, without the need for additional funding.But Breitfeld added that the company will need to raise capital in the second half of the year.Despite the tough macroeconomic situation, the company is confident of securing more funding.

U.S. electric commercial vehicle maker Electric Last Mile Solutions (ELMS) filed for bankruptcy a few days ago after it was unable to raise more capital, leaving investors concerned about the balance sheets of otherelectric vehiclestartups.