Faraday Future, which struggled to deliver its $300,000 FF 91 electric car, is now planning to launch a sub-brand that sells affordable EVs on the scale.
In a recent presentation to investors, Faraday Future briefly announced the Faraday X—FX—it intends to launch. the two models are called FX 5 and FX 6 prices between $20,000-$30,000 and $30,000-$50,000, respectively. The FX 5 will be a standard offering, while the FX 6 will be a larger model aimed at families, according to a Faraday Future report.
Faraday Future announces a small version of FX
Both models will be available with electric or gasoline filled range of extended powertrains. Faraday Future is targeting the start of production in 2025, although the company said this is “subject to securing the necessary funding.” The FX sub-brand will be light performance of goods—like the late Fisker-with limited marketing and an online-only sales model, according to Faraday Future.
Faraday Future has long teased affordable models as a follow-up to its FF 91, while making little progress in production cars at all. The company had previously announced that it would raise the low-cost FF 81 at the former General Motors plant in South Korea, but without treating that model or its under-development FF 71 in a corresponding business presentation, it seems that the FX is moving forward.
Faraday Future FF91 2.0 Futurist Alliance
The company said about nine years ago that they were “very fast” in getting EVs to market. But that was never true. The flagship of the FF 91 was launched almost eight years ago, and was first launched last August.
The FF 91 was initially touted to be a premium competitor to the Tesla Model S, then it was revealed that it would cost $300,000. So Faraday Future will be making a big leap with these affordable models.