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Podcast: IEN Radio
Episode: Faraday Backer Files for Bankruptcy
Description: The founder of secretive electric vehicle startup Faraday reportedly declared bankruptcy in the U.S. after running up more than $2 billion in debts.Bloomberg, citing court documents filed in Delaware, reports that under a debt restructuring plan, Jia Yueting plans to turn over his stake in the EV company to his creditors in China.Jia, the founder of a sprawling Chinese tech company, emerged as the primary backer of Faraday as it rapidly — and quietly — grew from startup to a hundreds-strong staff in Los Angeles that purported to be preparing a chal...