Asia Tech Wire (Oct 21) -- Chinese-founded U.S. electric vehicle startup Faraday Future (NASDAQ: FFIE) plans to launch its first models under a second brand by the end of next year.

Last month, Faraday Future announced the launch of its second brand, the Faraday X (FX).

The California-based electric carmaker revealed more details about the Faraday X and its first models on Monday.

The first FX models are dubbed the FX 5, with an expected price range of $20,000 to $30,000, and the FX 6, with an expected price range of $30,000 to $50,000.

Both models will be available in two power configurations, a range-extended AIEV (Artificial Intelligence Electric Vehicle) and battery AIEV.

Faraday Future plans to roll out the first models by the end of 2025, provided it can secure the necessary funding.