EVAIO is a decentralized platform for electric vehicle, which integrates DAG and blockchain technology. EVAIO founded in Nov 11, 2017. The use cases of EVAIO are insurance company and charger sharing system. One of its business models is to collect driving data by selling equipment mounted on cars, and then gain profits by selling these data to insurance companies, auto manufacturers and other institutions. After uploading vehicle data through EVAIO devices, users can get tokens returned by EVAIO as incentives. EVAIO has close ties to Tesla, and its CEO Patrick De Potter is Tesla no. 185 employee. In addition, several team members of EVAIO have previously worked in Tesla, including the Chief Software Engineer, Chief Vehicle Engineer and Business Development Officer.
The China Director of EVAIO, shared exclusively with Mars finance toward the mystery of EVAIO invest $900 million in Faraday Future, “we did some calculations and found that we were confident of investment within three years. The first phase may be small; but the second phase, we expect a big bull market, where there will be a lot of money rushing in and we will deliver the main funding. Phase 3 is where we deliver the rest. The words of EVAIO CEO Patrick De Potter states the investment will be ‘Indirect STO’, but not exactly STO. We think of it as a combination of 90% or 85% security token and a small number of utility token.”
Regarding Faraday Future (FF) 's denial to the media that EVAIO planned to invest in FF, EVAIO's Director of China said "it may be because FF's public relations are not informed, because things have happened too fast”. Some media exposed EVAIO have been raising funds in the name of FF’s investment, which is more like a typical blockchain speculation. However, perhaps there is a bigger scheme below the surface, the CEO of EVAIO Patrick De Potter is in close contact with Tesla and its VPs. After leaving Tesla, Patrick set up Force Pro Automotive, an Automotive company. He signed an agreement with Tesla and was authorized to make modifications on the Model S & X to make Tesla models bulletproof, signal interchangeable and equipped with European police. Therefore, this time EVAIO and Tesla may cooperate to layout on the FF for their both benefit.