Evergrande establishes Faraday Future company in Beijing even as turmoil prevails

Evergrande Faraday has set up a company in Beijing despite continued disputes between the company’s CEO and founder Jia Yueting and Evergrande Health Industry Group, which owns a 45% stake in the company and runs its Chinese operations.

Faraday Future set up its headquarters in the southern Chinese city of Guangzhou in August under the name Evergrande FF Intelligent Automotive China. The company also named Peng Jianjun, vice chairman of Evergrande Health and vice president of Evergrande High-Tech Group, its own chairperson.

It has now established an office in Beijing with a registered capital of RMB 50 million. The Beijing subsidiary—Evergrande Faraday Future Automotive Technology—was set up on October 16 and is wholly owned by its Guangzhou-based parent.

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