Faraday Future has established a new brand, Faraday X (FX), dedicated to developing Artificial Intelligence Electric Vehicle (AIEV) products. The company has announced its first two models, the FX 5 and FX 6, which will be offered as both range-extended and battery-electric AIEVs. Production is expected to begin by the end of next year, with prices ranging from $20,000 to $30,000 for the FX 5 and $30,000 to $50,000 for the FX 6.
The company aims to market these models and other AIEVs in the United States, having signed agreements with four Chinese firms to facilitate the vehicles’ entry into the market. However, the recent U.S. decision to ban certain hard- and software from China in vehicles may pose challenges. Notably, Faraday Future did not address this potential issue in its press release.
Faraday X emphasizes a philosophy of “Open-Source, Open-Platform, User-Definition, Co-Creation, and Sharing.” The company stated, “Our goal is to develop hit AIEVs that make the ultimate AI TechLuxury accessible, delivering products with twice the performance at half the price and making them affordable for everyone.”
This strategic direction aims to cater to the mass market, contrasting with Faraday Future’s existing luxury vehicle lineup. “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. He expressed optimism about the future, stating, “With our talented team, I am confident in our ability to achieve our upcoming goals.”
YT Jia, the founder and Chief Product and User Ecosystem Officer of Faraday Future, added, “At FX, we are committed to providing affordable, high-performance electric vehicles that meet the evolving demands of today’s users. With cutting-edge technology, intelligent cabin experience, and a strong execution strategy, we’re poised to lead the way in the AI EV market. We believe that the FX brand and its products will deliver immense value to a new demographic of users for our brand.”
This announcement follows a challenging period for Faraday Future, as it disclosed to the U.S. Securities and Exchange Commission (SEC) that it delivered only ten vehicles by the end of 2023. The success of the FX 5 and FX 6 models will largely depend on the company’s ability to secure the necessary funding to bring these vehicles to market.
