[13] A subsidiary, Xbell Investment, was sold by Sinotel Technologies to LeEco (Leshi Holdings Beijing), another company owned by Jia Yueting.
Le.com general manager Liang Jun and Le Vision Pictures chairman and CEO Zhang Zhao were also elected onto the board.
[15] Jia refused to return, sending his wife instead to solve the financial issues, which sparked criticism from the Chinese government and the online community.
[18] In April 2016, Jia Yueting used money he previously borrowed in China[19] to purchase a stake of over 20 percent in Lucid Motors,[18] a direct competitor of Faraday Future.
[22][23] On July 5, 2017, Jia moved to Los Angeles, claiming that his trip to the US was due to the related financial affairs of Faraday Future.
[26] On November 10, 2021, Jia and Faraday Future announced that it received the Certificate of Occupancy (“COO”) for its Hanford manufacturing facility, and on December 13, 2021, the company reached its third production milestone with the start of construction for all remaining production areas at the Hanford plant, including body, propulsion, warehouse and vehicle assembly.
[30][31] He has been dubbed by some English media outlets as "China's Steve Jobs", although lately it has been used to showcase the overexpansion of his technology companies.
[32] Jia has been dubbed by some Chinese media outlets as a "PowerPoint CEO",[33] a reference to his long history of repetitively announcing vaporwares.
[38][39] In January 2019, Shimao Gongsan, a major shopping complex owned by Jia Yueting in Beijing’s Sanlitun area, failed to be sold in an online auction.
[40] On May 21, 2020 the United States Bankruptcy Court for the Central District of California entered an order officially confirming a chapter 11 reorganization plan for Jia.