Lucid hikes prices, still struggles with production

Lucid's call with investors today revealed two important bits of news about the company. Let's start with the bad news and then go to the worse news. Lucid has produced 700 cars in the first quarter of this year.

That's January to March, three full months, and it's not a typo - we mean 700, not 700,000 or anything like that. Of those, it managed to deliver 360 cars to customers. That's ridiculous, plain and simple. And yet, there's "hope" - in April alone it managed to deliver a whopping 300 vehicles from its plant in Arizona. At this rate, Lucid will fulfill all of its 30,000 reservations in eight years.

But wait, there's also a very much expected and seemingly inevitable price hike! Following in the footsteps of, well, every other EV maker, Lucid has decided to finally take the plunge and make its vehicles even more expensive. If only it could also make make them...

Anyway, if you want to order a Lucid Air Grand Touring, it's going to cost you $154,000 (up from $139,000). The Air Touring is now $107,400 (up from $95,000), and the Air Pure is $87,400 (up from $80,000). Thankfully, the most expensive of the bunch, the Lucid Air Grand Touring Performance, has miraculously seen its $179,000 price tag remain unchanged.

It's important to note that all of Lucid's vehicles are eligible for the $7,500 federal EV tax credit in the US, as well as any available state and local incentives on top of that.

Existing reservation holders will see the original prices honored, Lucid CEO Peter Rawlinson said, thus avoiding a huge backlash like the one Rivian was exposed to not long ago. Even people who reserve by May 31 will get the old prices, as the new ones only go into effect on June 1.

Source | Via