On October 2, electric vehicle startup Faraday Future (FF) announced that its second brand, Faraday X (FX), will unveil its new model, the FX Super One, at an ultimate launch event in Dubai on October 28. The company plans to begin deliveries in the Middle East market in November.
FF founder Jia Yueting stated on Weibo that the strategic rollout in the Middle East is a key step in FF’s global vision. He further mentioned that the FX Super One, set to launch in Dubai on October 28, will “once again redefine the boundaries of EAI EVs.” Jia also pointed out, “The Crown Prince of the UAE, important royal family members, and senior government officials have experienced and highly praised both the FF 91 and FX Super One. This meeting is not just a product showcase, but also our response to the future of mobility, energy structure, and human sustainable development.”
Faraday X, FF’s second brand, was launched in September 2024. The brand aims to create a best-selling smart electric vehicle (AI EV) for the U.S. market. The FX Super One, the first model from FX, debuted on July 18, with consumer pre-orders beginning at a deposit of $100.
The new vehicle is positioned as a pure electric mid-to-large-sized MPV, featuring an eye-catching front design with a large front grille that functions as a screen, flanked by headlights with lenses. The front windshield has a significant tilt, and the top is equipped with LiDAR. The vehicle’s side profile is also very robust, featuring electric sliding doors and multi-spoke wheels. The rear is equipped with a continuous taillight design, giving it a highly personalized visual identity.
Inside, the car features a large, continuous screen, connecting the central and passenger side screens. It offers three seating configurations: four-seat GOAT version, six-seat, and seven-seat versions. The vehicle is expected to be priced under $80,000 (approximately 580,000 RMB).
Notably, the FX Super One has received a much better market response than FF’s first model, the FF91, which struggled in terms of market performance. According to previous financial reports, FF received over 4,000 paid pre-orders for the FX Super One in the second quarter. As of July 31, total pre-orders surpassed 10,000 units.
FF’s launch of a second brand may be aimed at reversing its sales performance. Since Jia Yueting founded FF in May 2014, nearly 11 years have passed, yet FF has not been able to achieve mass production, and the company currently only offers the FF91. The FF91, FF’s first model, was released in January 2017 and launched in May 2023. Surprisingly, the FF91 has delivered fewer than 30 vehicles since its launch, and the weak market performance of the FF91 has directly contributed to significant financial gaps in FF’s reports. As a result, FF is pinning its hopes on Faraday X.
The latest financial report shows that in Q2 of this year, FF’s operating loss was approximately $48.1 million, a slight improvement compared to $50.6 million in Q2 of 2024. The adjusted operating loss was about $27.4 million, with an average monthly operating loss of around $9 million. The operating cash outflow in Q2 was approximately $43.6 million, a 50% increase from $29.1 million in the same period last year. The financing cash inflow was about $55.1 million, a 106% year-on-year increase from $26.7 million, marking the fifth consecutive quarter where financing inflows exceeded operating outflows. Operating expenses were $21.3 million, a 29% year-on-year decrease. FF stated that operational efficiency and cost control continued to improve in Q2, with cash reserves at the highest level in nearly 18 months at the end of the quarter.
