Faraday Future Announces its Second Brand, Faraday X (FX), and Two Planned New Products Expected to be Priced between $20,000 and $50,000, Signed Strategic Framework Agreements or MOUs with Four OEMs to Fully Promote Range Extended AIEV in the U.S.

Faraday Future Intelligent Electric Inc. (Nasdaq: FFIE) (“FF”, “Faraday Future”, or “Company”), a California-based global shared intelligent electric mobility ecosystem company, announced today that it will launch its second brand, Faraday X (or “FX” for short), which will be an integral part of FF’s overall growth strategy, and is part of the Company’s Global Automotive Industry Bridge Strategy.

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YT Jia, FF Founder and Chief Product and User Ecosystem Officer, outlines the Company's second brand, Faraday X (FX), and its launch plan for the first batch of planned AIEV (Artificial Intelligence Electric Vehicle) products. (Photo: Business Wire)

The brand slogan for Faraday X is: Co-create, an AIEV for Everyone. Through FX's five initiatives such as Open-Source, Open-Platform, User-Definition, Co-Creation, and Sharing, the Company will empower a $30,000 FX model with core technologies used in the $300,000 FF 91. 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 make them affordable for everyone, and aspire to become the Toyota of the AIEV era.

Additionally, FX expects to launch the first two planned products under the FX brand, the FX 5 and FX 6, through a user-defined co-creation process, with expected price ranges of $20,000 to $30,000 and $30,000 to $50,000, respectively.

This new brand approach by FF aims to integrate global automotive components and supply chains into the U.S., energizing the U.S. B-AIEV and RE-AIEV. While the existing FF 91 2.0 series products target the ultimate AI TechLuxury market, the second brand (FX) is aimed at the mass market. 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.

What’s more, FF and FX have the potential to mutually empower each other, creating a complete AIEV ecosystem covering both ultra luxury and mass markets. FF's 6x4 product and technical architecture, domestic manufacturing experience, and brand strength are assets that the second brand can inherit. Meanwhile, the FX brand’s large-scale sales potential can feed back into FF, significantly enhancing FF's technical, manufacturing, supply chain, and user ecosystem capabilities, and helping FF reduce costs and improve efficiency.