Faraday Future to launch Faraday X brand, $30,000 FX model

Faraday Future announced that it will launch its second brand, Faraday X, or FX, which will be a part of FF’s overall growth strategy, and is part of the company’s Global Automotive Industry Bridge Strategy. Through FX’s five initiatives such as Open-Source, Open-Platform, User-Definition, Co-Creation, and Sharing, the company will empower a $30,000 FX model with core technologies used in the $300,000 FF 91. The company said its goal is to develop hit AIEVs that make the Ultimate AI TechLuxury accessible. Additionally, FX expects to launch the first two planned products under the FX brand, the FX 5 and FX 6, through a user-defined co-creation process, with expected price ranges of $20,000 to $30,000 and $30,000 to $50,000, respectively. This new brand approach by FF aims to integrate global automotive components and supply chains into the U.S., energizing the U.S. B-AIEV and RE-AIEV. While the existing FF 91 2.0 series products target the ultimate AI TechLuxury market, the second brand is aimed at the mass market. The company has established relationships with four Chinese OEMs, having already entered into two strategic framework agreements and two memoranda of understanding, and is working toward finalizing definitive agreements with each to fully promote Range Extended AIEV in the U.S. The company said, “FX plans to launch two models in the first phase, including the FX 5, a large-space sporty AIEV priced between $20,000 and $30,000, targeting the mainstream market. The product slogan for the FX 5 is Co-create Your AIEV with Extreme Price-Experience Ratio, aimed at becoming the first AIEV for every hardworking person, helping them balance both work and life. And the second vehicle is FX 6, priced between $30,000 and $50,000-an extra-large, Luxury AIEV for Family. The product slogan for the FX 6 is Co-create Your AI Home on the Road, designed to be the top choice for families seeking a mobile AI space, offering the perfect blend of personal and family needs. The FX 5 and FX 6 models are anticipated to offer two types of powertrains: range-extended AIEV and battery-electric AIEV. Subject to securing necessary funding, FX is targeting the end of 2025 for the first vehicle to roll off the line, and together with potential partners, the Company will work tirelessly to achieve this goal. FX intends to introduce an innovative approach with light assets, light marketing, light sales and co-creation. This includes building a fully online direct sales ecosystem that includes user acquisition and user management. FX’s goal is to transform product hits into sales successes.”