HomeTechnologyNewsLucid Electric Vehicles Get a Big Price Hike, and You Can Probably...

Lucid Electric Vehicles Get a Big Price Hike, and You Can Probably Guess Why

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Lucid

Lucid just released its first financial report for 2022 and the details are a bit disappointing. The company says it’s only delivered 360 vehicles this year, and more importantly, it’s raising prices on all of its cars (minus the recently announced Lucid Air Grand Touring Performance).

As of June 1, the Lucid Air Pure will cost $87,400 (an increase of $7,400), while the Lucid Air Touring will cost $107,400 (an increase of $12,400). The company’s already very expensive Lucid Air Grand Touring will cost a whopping $154,400 (that’s a $15,000 price increase).

Those who reserve a vehicle before June 1 (or already have a reservation) do not need to deal with these price increases. I guess Lucid learned from Rivian’s mistake. Still, it appears that Lucid is stuck in the same position as its competitors: supply chain constraints, rising logistics costs, and aggressive expansion make electric vehicle production a very expensive test, especially for a company. that is not fully established.

Lucid tells investors it’s on track to make 12,000 to 14,000 EVs by 2022. And the company seems pretty optimistic about its future, citing a 100,000-vehicle deal with the Kingdom of Saudi Arabia.

But how the edge points out, the Saudi Arabian Public Investment Fund is a majority owner of Lucid. Additionally, Lucid only delivered 360 vehicles this year. Like most electric vehicle manufacturers, Lucid is built on investments, and it may take a while for the company to find a solid footing.

Almost all electric vehicle manufacturers have announced a price increase this year. Tesla seems addicted to price increases, and Rivian had to back down on a price increase that hurt reservation holders. Polestar announced a very small price increase earlier this week, but at least it has the courtesy of giving customers a few extra things for the trouble.

Source: lucid

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