BEIJING, January 27 (TMTPOST) — News reports about home appliance maker Gree and real estate developer Huafa Group's investment in EV startup Faraday Future have been dismissed as inaccruate by a few insiders.
According to earlier reports published on Wednesday, the investment is estimated to be no more than RMB2 billion (US$309 million).
However, a decision on the time and the amount to invest in Faraday Future has not been made, according to sources at the State-Owned Assets Supervision and Administration Commission of Zhuhai (Zhuhai SASAC). Nobody from Zhuhai SASAC has ever met Jia Yueting, the founder Faraday Future.
Zhuhai SASAC, which owns both Gree and Huafa Group 100%, initiated the possible investment, according to the sources.