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The Lucid Air Grand Touring Performance model in a sandy desert.

Lucid just posted its very first economical report of 2022, and the details are a bit disappointing. The enterprise suggests it’s only shipped 360 vehicles this year, and a lot more importantly, it’s cranking up the rates on all of its autos (minus the newly announced Lucid Air Grand Touring Efficiency).

Beginning June 1st, the Lucid Air Pure will price tag $87,400 (an raise of $7,400), even though the Lucid Air Touring will operate for $107,400 (an enhance of $12,400). The company’s Lucid Air Grand Touring, which was by now incredibly costly, will price tag a whopping $154,400 (that is a $15,000 rate hike).

Those who reserve a vehicle before June 1st (or presently hold a reservation) don’t want to offer with these selling price hikes. I guess that Lucid uncovered from Rivian’s blunder. Nevertheless, it seems that Lucid is caught in the exact placement as its competitors—supply chain constraints, growing logistics prices, and aggressive expansion make EV generation a extremely expensive ordeal, specifically for a enterprise that isn’t entirely recognized.

Lucid tells investors that it is on observe to manufacture 12,000 to 14,000 EVs in 2022. And the company appears to be rather optimistic about its foreseeable future, citing a 100,000 car offer with the Kingdom of Saudi Arabia.

But as The Verge notes, Saudi Arabia’s Community Investment Fund is a greater part proprietor of Lucid. Plus, Lucid has only sent 360 automobiles this yr. Like most EV companies, Lucid is jogging on investments, and it might take a although for the enterprise to obtain good floor.

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Just about every EV company has announced a price tag hike this 12 months. Tesla seems addicted to cost improves, and Rivian had to backtrack on a rate hike that harm reservation holders. Polestar announced a pretty tiny selling price improve before this 7 days, but at the very least it has the courtesy to give customers some additional stuff for the difficulty.

Resource: Lucid