Written by Cláudio Afonso | LinkedIn | X
California-based electric vehicle (EV) startup Faraday Future launched its second brand, Faraday X, on Friday, aiming for an extremely lower price range—around 10 per cent of its FF91 2.0 model, which is priced at about $300,000.
Promising “twice the performance at half the price,” Faraday X plans to introduce two models initially: the FX 5 and FX 6, with expected price ranges of $20,000 to $30,000 and $30,000 to $50,000, respectively.
These models will feature two powertrain options—range-extended and battery-electric—and production is expected to begin by the end of 2025, pending successful funding.
Faraday Future has already secured partnerships with four Chinese original equipment manufacturers (OEMs), with two strategic framework agreements and two memoranda of understanding in place.
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The company said it is working towards finalizing definitive agreements to strengthen its supply chain and promote its range-extended technology in the U.S. market.
Matthias Aydt, CEO of the EV startup, said “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.”
Last week, Faraday Future filed a new filing with the Securities and Exchange Commission (SEC) informing that the compensation packages from both its CEO Matthias Aydt and the founder YT Jia have been adjusted.
Faraday Future, as part of its cost-cutting measures due to financial constraints, had previously reduced the salaries of its executives and employees starting in October 2023.
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Written by Cláudio Afonso | LinkedIn | X
