Faraday Future Intelligent Electric, Inc. (FFIE.US) launches its second brand, Faraday X, targeting the mass market.

Faraday Future Intelligent Electric, Inc. (FFIE.US) announced on Friday that it will launch its second brand, Faraday X (FX), which is expected to be 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 20-30 thousand dollars and the FX 6 with an expected price of 30-50 thousand dollars, offering both extended range AIEV and pure electric AIEV systems, with production targeted to begin by the end of 2025, "provided the necessary funding is obtained." The company plans to launch the first two planned products under the FX brand through a user-defined co-creation process. In addition, Faraday Future Intelligent Electric, Inc. stated that the $30,000 FX model will be equipped with the core technology used in the $300,000 FF 91. Faraday Future Intelligent Electric, Inc. founder Jia Yueting stated that the goal of the second brand is to become the "Toyota" of the smart electric vehicle market and to enter the plug-in hybrid vehicle market in the future. Faraday Future Intelligent Electric, Inc. also claimed to have established partnerships with four Chinese automakers, signing two strategic framework agreements and two memorandums of understanding, and is in the process of further signing final agreements with these OEMs.