(Yicai Global) Dec. 5 -- Faraday Future Inc. (FF), a California, US-based electric vehicle startup, is poised to finish its series-A financing, but payment has not yet been forthcoming.

Chinese businessman Jia Yueting, the founder of cash-strapped Leshi Holdings (Beijing) Co., is its current investor.

His legal counsel is drafting an investment agreement for the funding round in Hong Kong. FF has kept information about the transaction strictly confidential, a source at the firm said, but the deal has a very good chance of success, Tencent Finance reported today. The source revealed neither the investor's background nor the financing amount, however. Jia previously set its target valuation at USD10 billion. Nio Co., another US-based Chinese electric vehicle startup, received USD5 billion in its latest funding round on Nov. 9.

Leading Indian carmaker Tata Motors Ltd. [NYSE:TTM] is mulling a CNY900 million investment in FF, and said it would take a 10 percent share, which would value the company at USD9 billion, foreign media reported Nov. 14. Jia lost control of Leshi following the onset of its dire financial straits, and decamped to the US where he has since devoted himself to developing the FF car model. As its cash crunch became severe, FF reportedly aborted its Nevada factory plan and several senior executives have since resigned.