Reports say billionaire Hui Ka-yan invests in startup Faraday Future

Business | 16 Apr 2018 5:33 pm

China Evergrande Group (3333) chairman Hui Ka-yan has reportedly invested in startup Faraday Future, an electric vehicle maker run by LeEco Founder Jia Yueting.

It remains unknown whether the deal is Hui’s personal investment or related to Evergrande. Mainland media reported that Evergrande did not deny the investment.

FF has purchased a land in Guangzhou at a price of 364 million yuan to build a factory.

According to Forbes, Hui has an estimated net worth of US$36.2 billion (227.5 billion yuan).

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