Shanghai (ZXZC)- A local media reported that the electric car start-up Faraday Future, backed by Chinese entrepreneur Jia Yueting, managed to raise 900 million dollars from Indian Tata Group and the money accounted for 10 percent of its shares. In other words, the company’s valuation can be 9 billion dollars.

Recently, there were lots of coverage about the company and Jia Yueting. If the news about Tata’s investment will be confirmed, it will help the troubled electric carmaker to relieve the financial pressure.