On the afternoon of December 23, Jia Yueting, founder and partner of Faraday Future (FF), announced on social media that after completing a $30 million financing in September, FF has received a new round of $30 million in funding, which will accelerate the promotion of FX strategy.
FX (Faraday X) is a brand development strategy previously proposed by FF. FF will launch a mass-produced Volkswagen model with "twice the performance and half the price" in the US market to fill the structural gap in the US AIEV market and promote the company's overall development strategy. The first batch of FX models will include FX 5 (expected to sell for $20000 to $30000) and FX 6 (expected to sell for $30000 to $50000), which are expected to offer both extended range and pure electric power systems. The first model is expected to be launched by the end of next year, depending on necessary financial support.
Jia Yueting believes that extended range electric vehicles, AI cockpit+"refrigerator, TV, and sofa", AI MPVs, and new energy vehicles under $40000 will be the historic "four blue ocean" opportunities in the US AIEV market. This financing will help the company fully seize these opportunities and accelerate the production of FX's first vehicle by the end of 2025.
Jia Yueting stated that from January 5th to 7th, 2025, FF will hold a briefing on the latest major developments and next steps of FX strategy in Las Vegas, showcasing and experiencing the first batch of prototype cars.