Lucid is ready to extend costs throughout its Air lineup, simply months after the corporate began deliveries of the electrical sedan.
The brand new pricing is as follows:
Lucid Air Pure – $87,400 (up from $77,400)
Lucid Air Touring – $107,400 (up from $95,000)
Lucid Air Grand Touring – $154,000 (up from $139,000)
Lucid Air Grand Touring Efficiency – $179,000 (unchanged)
The brand new pricing solely applies from June 1, and reservation holders with the earlier pricing will not must pay the upper costs as soon as it is time to convert these reservation to orders, Lucid has confirmed. Rival EV startup Rivian additionally raised costs just lately however walked them again for reservation holders after a backlash.
“The world has modified dramatically from the time we first introduced Lucid Air again in September 2020,” Peter Rawlinson, Lucid’s CEO, stated concerning the value rises throughout an earnings name final week.
Lucid Motors CEO Peter Rawlinson explains battery tech
Sherry Home, Lucid’s CFO, offered extra particulars in a press release to TechCrunch.
“Much like many corporations in our business, we proceed to face world provide chain and logistics challenges, together with Covid-related manufacturing unit shutdowns in China,” she stated.
Though Lucid has totally impressed with the Air, the corporate has been fighting manufacturing. It reported delivering simply 360 models to clients within the first quarter of 2022. The corporate additionally reported a lack of $81 million within the quarter on gross sales of $58 million.
There are some vibrant spots. The loss is far smaller than the $2.9 billion Lucid misplaced in 2021, and Lucid is sitting on about $5.4 billion in money reserves to maintain it working by means of 2023. The corporate additionally stated it has 30,000 reservation for the Air, plus a purchase order settlement from primary shareholder Saudi Arabia for 100,000 automobiles.
