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Faraday Future founder’s bankruptcy spiked a potential deal in the Middle East

The Verge

Saudi Arabia’s Public Investment Fund already owns a majority stake in fellow EV startup Lucid Motors, and the UAE and Kuwait have even bigger sovereign funds. The downside of this is that, according to filings in Jia’s bankruptcy case, “[s]ubstantially all of [Faraday Future’s] tangible and intangible assets have been pledged as collateral.”

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