Asia Tech Wire (Sep 20) -- California-based electric car maker Faraday Future announced the launch of its second brand, Faraday X (FX), on Friday.

The first FX models are the FX 5, with an expected price tag of $20,000-$30,000, and the FX 6, with an expected price tag of $30,000-$50,000, available in two types of powertrains: range-extended AIEV and battery-electric AIEV.

Faraday Future aims to begin production of the FX cars by the end of 2025, "subject to securing necessary funding."

The company claims it has already established partnerships with four Chinese OEMs, signing two strategic framework agreements and two memorandums of understanding, and is in the process of signing further definitive agreements with these OEMs.