Faraday Future, a California-based electric vehicle startup, will launch its second brand, Faraday X (or “FX” for short), which will be an integral part of FF’s overall growth strategy, and is part of the Company’s Global Automotive Industry Bridge Strategy.
The brand slogan for Faraday X is: Co-create, an AIEV for Everyone. 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 goal is to develop hit AIEVs that make the Ultimate AI TechLuxury accessible, delivering products with Twice the Performance at Half the Price, and make them affordable for everyone, and aspire to become the Toyota of the AIEV era.
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 (FX) 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.
What’s more, FF and FX have the potential to mutually empower each other, creating a complete AIEV ecosystem covering both ultra luxury and mass markets. FF’s 6×4 product and technical architecture, domestic manufacturing experience, and brand strength are assets that the second brand can inherit. Meanwhile, the FX brand’s large-scale sales potential can feed back into FF, significantly enhancing FF’s technical, manufacturing, supply chain, and user ecosystem capabilities, and helping FF reduce costs and improve efficiency.
“The core logic of FF’s second brand and bridge strategy is to create an industrial bridge, fostering close collaboration within the global supply chain to develop high-performance, cost-effective B-AIEV and RE-AIEV products for the U.S. market,” said Matthias Aydt, Global CEO of FF. “Looking ahead, I am excited about our future. With our talented team, I am confident in our ability to achieve our upcoming goals.”
The Company also announced the results of the first phase of the online survey, “Everyone’s AIEV, You Decide,” which revealed strong demand in the U.S. market for high-performance, cost-effective B-AIEV and RE-AIEV vehicles. The Company will launch the second phase of the online survey while also organizing an FX logo design competition and releasing an online survey regarding whether to change the Company’s stock symbol from FFIE to FFAI.
FX Product Strategy and Initial Models
Through the recent user survey FF conducted, the Company confirmed a few key pain points for U.S. users when purchasing electric vehicles:
– High vehicle costs: EVs today are priced significantly higher than traditional vehicles, making them less accessible to the broader market.
– Range anxiety: Users worry about limited driving ranges, especially with the current lack of fast-charging infrastructure.
– Smart cabin experience: Current market offerings don’t meet users’ expectations for personalized, AI-driven cabins.
– Limited choice of autonomous driving solutions: Most brands are behind in providing a reliable, consistent self-driving experience.
The FX brand is committed to addressing these challenges with innovative solutions that make AI-EVs accessible to the mass market. To address range anxiety, FX plans to create a RE-AIEV – a range-extended electric vehicle that combines an electric drive system with a range extender, giving users the confidence to travel longer distances. FX vehicles will offer a 3rd aiSpace, an AI-powered, personalized smart cabin that transforms the in-car experience, integrating users’ digital lives into their driving.
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.
