Faraday Future Launches New Mainstream Brand To Offer Affordable EVs – If It Gets Funding
Faraday Future Announces New Faraday X (FX) Brand
- Faraday Future announced the new Faraday X (FX) brand, targeting the mainstream market.
- FX aims to offer electric and range-extended vehicles priced between $20,000 and $50,000.
- Production is planned for next year, but it depends on securing funding and finalizing details.
Introduction
Despite its well-known failures, Faraday Future is forging ahead with plans for a new mainstream brand. The brand, called Faraday X (FX), aims to establish itself as the “Toyota of the AIEV era” – the era of Artificial Intelligence Electric Vehicles.
The FX Models
Faraday X (FX) plans to introduce two models: the FX 5 and the FX 6. The FX 5 is expected to be priced between $20,000 and $30,000, while the FX 6 will have a price range of $30,000 to $50,000. Both models will be available with electric and range-extended powertrains.
Production Plans
Faraday Future aims to begin production of the FX models by the end of 2025. However, this is subject to securing necessary funding. The company is currently working on finalizing agreements with four Chinese OEMs to promote Range Extended AIEV in the U.S.
The Future of Faraday X
Faraday Future has plans for a logo design competition for the FX brand and will also survey fans about changing their stock symbol from FFIE to FFAI. The company’s press release emphasized the use of AI technology in their vehicles, mentioning it more than 50 times. However, investors remain skeptical, as the stock has dropped more than 8% since the announcement.
