On March 22 (local time), the U.S. Securities and Exchange Commission (SEC) formally wrapped up its investigation into Faraday Future, an inquiry that had spanned close to four years. The commission decided against imposing any penalties or initiating legal proceedings against the company, its founder Jia Yueting, global president Jerry Wang, or other senior executives. The crux of the investigation centered on two key issues: whether false statements were made during Faraday Future's Special Purpose Acquisition Company (SPAC) merger listing process in 2021, and whether the sales figures for its inaugural batch of electric vehicles in 2023 were falsified. Despite issuing a 'Wells Notice' in July 2025, which signaled the SEC's intent to potentially take legal action, the commission ultimately chose not to pursue such measures. Faraday Future has commented that the resolution of the investigation enables the company to channel its resources towards business growth. However, it continues to grapple with the threat of being delisted from the Nasdaq exchange, as its stock price has dipped below the $1 mark.