Faraday Future Intelligent Electric launches its second brand, Faraday X, targeting the mass market
Faraday Future announced on Friday that it will launch its second brand, Faraday X (FX), which is expected to become an important part of the company's overall growth strategy and a part of the company's global automotive industry bridge strategy. The first batch of FX models includes the FX 5 with an expected price of $20,000 to $30,000 and the FX 6 with an expected price of $30,000 to $50,000, offering both range-extender AIEV and pure electric AIEV systems. The goal is to start production by the end of 2025, "provided that the necessary funding is obtained." The company plans to introduce the first two planned products under the FX brand through a user-defined co-creation process. In addition, Faraday Future stated that the $30,000 FX model will be equipped with core technology used in the $300,000 FF 91. Jia Yueting, the founder of Faraday Future, stated that the goal of the second brand is to become the "Toyota" of the smart electric vehicle market and to enter the range-extended hybrid vehicle market in the future. Faraday Future also claimed to have established partnerships with four Chinese automakers, signing two strategic framework agreements and two memoranda of understanding, and is in the process of finalizing agreements with these OEMs
According to the Zhitong Finance APP, Faraday Future Intelligent Electric (FFIE.US) announced on Friday that it will launch its second brand, Faraday X (FX), which is expected to become an important part of the company's overall growth strategy and a part of the company's global automotive industry bridge strategy.
It is reported that the first batch of FX models will include the FX 5 with an expected price of $20,000-30,000 and the FX 6 with an expected price of $30,000-50,000, offering both extended range AIEV and pure electric AIEV systems, with production expected to start by the end of 2025, "provided that the necessary funding is obtained." The company plans to introduce the first two planned products under the FX brand through a user-defined co-creation process.
In addition, Faraday Future stated that the $30,000 FX model will be equipped with core technology used in the $300,000 FF 91. Faraday Future founder Jia Yueting stated that the goal of the second brand is to become the "Toyota" of the smart electric vehicle market and will enter the plug-in hybrid vehicle market in the future.
Faraday Future also claimed to have established partnerships with four Chinese automakers, signing two strategic framework agreements and two memoranda of understanding, and is in the process of finalizing agreements with these several OEMs