Faraday Future’s failures are well-known, but that hasn’t stopped the company from announcing plans for a new mainstream brand. Called Faraday X (FX), it aims to become the “Toyota of the AIEV [Artificial Intelligence Electric Vehicle] era.” Obligatory eye roll aside, the company announced plans for two models called the FX 5 and FX 6. The former is “expected” to cost between US$ 20,000 and US$ 30,000 while the latter should have prices between US$ 30,000 and US$ 50,000. Both are slated to be offered with electric and range-extended powertrains.
While Faraday wants to begin production by
the end of 2025, it’s all “subject to securing necessary funding.” However, given
the dismal sales of the FF 91 and its tortured development, this feels like a
long shot. Nevertheless, 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.”
Faraday Future didn’t say much of
substance, but they billed the FX 5 as a “large-space sporty AIEV” and said
it’s for “every hardworking person, helping them balance both work and life.”
The FX 6, on the other hand, is an “extra-large, Luxury AIEV for Family.” While
you might not want to get your hopes up, the company announced plans for an FX
logo design competition in the future and said they’ll survey fans about
changing their stock symbol from FFIE to FFAI. On that note, the company’s
short press release mentioned AI more than 50 times and investors apparently
aren’t buying the buzzwords as the stock is down more than 8% as of this
writing.
