Faraday's future interim chief financial officer will be replaced and will restate the 2022 annual report.

CTOnews.com, July 13 / PRNewswire-Asianet /-- Electric car startup Faraday Future announced on Tuesday local time that the company has found some errors in its 2022 annual report and some quarterly reports and will submit a recompiled financial report.

In addition, Yun Han, Faraday's future interim chief financial officer, resigned and continued to serve as chief accounting officer. Faraday will appoint Jonathan Maroko, an outsider, as its new interim chief financial officer, effective July 24th.

Faraday said in the future that the annual report for 2022, the quarterly report to September 2022 and the quarterly report to March 2023 were "no longer reliable" (should no longer be relied upon) because of some errors found. These errors are related to the conversion of the fair value of some bills issued by the company.

Faraday said in the future that it would submit recompiled financial statements that would not affect the electric vehicle delivery plan.