Faraday Future Highlights Faraday X: Here's What The EV Company Is Banking On After Stock Fell 90% In Past Year

Core Viewpoint - Faraday Future is attempting to pivot its strategy by introducing a new sub-brand, Faraday X, aimed at producing more affordable electric vehicles priced between $20,000 and $50,000, in contrast to its previous focus on premium vehicles like the FF 91, which costs over $300,000 [1][2][5]. Group 1: New Product Strategy - The company plans to launch the FX 5 and FX 6 models, priced from $20,000 to $30,000 and $30,000 to $50,000 respectively, along with the Super One minivan, which currently has an undetermined price [2]. - The Super One is being marketed as a "luxury AI MPV" and is positioned to fill the gap between high-end minivans and super-luxury SUVs, with a focus on comfort and advanced technology [3][4]. Group 2: Market Position and Challenges - Since its SPAC merger announcement in 2021, which valued the company at $3.4 billion, Faraday Future has faced significant challenges, resulting in a current market capitalization of $94 million and an enterprise value of $203 million [5]. - The company's stock has seen a dramatic decline, down 92% over the past year and 43% year-to-date in 2025 [5][7]. Group 3: Brand Recovery Efforts - The recent CES presentation and prototype reveal are seen as efforts to restore brand awareness and trust after a series of controversies and operational failures [6]. - The CEO expressed a desire for a fresh start with the Faraday X initiative, emphasizing resilience and the opportunity to prove the company's capabilities [6].