Faraday Future Says SEC Not Recommending Enforcement Action

The US Securities and Exchange Commission is not recommending an enforcement action against electric vehicle startup Faraday Future Intelligent Electric Inc. after a years-long investigation, according to a company filing.

The SEC decision “must in no way be construed as indicating that the party has been exonerated or that no action may ultimately result from the staff’s investigation,” the company said in the filing, citing a letter from the agency.

The SEC declined to comment about the matter.

Faraday Future revealed in 2022 the agency had begun investigating the firm around its 2021 merger with a blank-check firm. The company ...