Faraday Future raises salaries for executives, but the company's financial situation is worrying

Faraday Future (FF) recently submitted documents to the U.S. Securities and Exchange Commission showing that FF plans to raise the salaries of its founder Jia Yueting and CEO Matthias Aydt, with annual base salaries adjusted from $450,000 and $400,000 to $680,000 and $700,000, respectively. In addition, Jia Yueting will also receive a one-time recognition bonus of $500,000, an annual discretionary target bonus of $816,000, and two annual stock awards with a total value of more than $4 million. However, FF's financial situation is not optimistic. The financial report shows that FF achieved revenue of $295,000 and a net loss of $157 million in the first half of the year. As of June 30, FF had $29.1 million in cash used in operating activities, total book assets of $457.9 million, total liabilities of $309.2 million, and net assets of $148.7 million.