(Yicai Global) Jan. 6 -- Faraday Future, a vehicle startup founded by bankrupt Chinese serial entrepreneur Jia Yueting, has appointed Fox Factory Holding's former chief financial officer as its new CFO.

Zvi Glasman will be responsible for the company's finances and investor relations and report to Chief Executive Carsten Breitfeld, the Los Angeles-based carmaker said in a statement on its website today.

Glasman served the US suspension product manufacturer as its CFO for 12 years which included the Georgia-based company's initial public offering. He is a certified public accountant.

Faraday Future has been striving to get its first vehicle on the streets. The firm said on Dec. 9 that it is moving forward with its mass production plans as another FF91 pre-production vehicle had been completed and would be added to its road-testing fleet.

In October, the company announced it had raised USD45 million in debt financing from two major US financial institutions. The firm had secured enough operating capital to weather a short-term cash flow crisis before an IPO, it added.

Meanwhile, Jia has been dealing with his debt issues. The Chinese businessman said last July that he no longer owns an equity stake in the carmaker after his personal bankruptcy reorganization in the States.

Editor: Emmi Laine