Expensive change for Lucid: what about the alternative to the Tesla Model S.

Lucid has announced major changes to its models.

In its earnings report, Lucid announced that it would increase the prices of its Air EV luxury range by up to 13%, TechCrunch reported. The Air Grand Touring will increase from $ 15,000 to $ 154,000, the Air Touring will increase from $ 12,400 to $ 107,400, and the cheapest Air Pure model will increase by $ 10,000 to $ 87,400.

The new prices will not affect the current 30,000 booking holders.

“Like many companies in our industry, we continue to face the global supply chain and logistical challenges, including the closure of factories in China caused by Covid. We work closely with our suppliers to mitigate the impact of outages, ”said Lucid CFO Sherry House.

“While any extended outage could have an impact on our production forecast, today we reiterate our production forecast of 12,000-14,000 vehicles for 2022, based on the information we currently have, combined with our mitigation plans.” she continued.

The world economy is suffering

Lucid is still expected to start delivering the $ 179,000 Air Grand Touring Performance in June (the price of this model remains the same), following the Air Touring and Air Pure models later this year. Production of the Project Gravity SUV will begin in the first quarter of 2024, said Lucid CEO Peter Rawlinson.

Rising prices for electric vehicles is a problem at the industry level right now, due to the war in Ukraine, the closure of COVID-related factories and more. Tesla recently raised prices on all models, with the base 3 rising by $ 2,000 to $ 46,990. Rivian also raised prices for its electric pickups, with R1T rising by $ 12,000 – but gave up applying them to pre-orders as planned, following a protest.

Lucid also announced revenue of $ 57.7 million in the last quarter, thanks to deliveries of 360 vehicles, the most recorded so far. The company expects to continue to lose money as it builds its production plants in Arizona and Saudi Arabia, but has $ 5.4 billion in cash as a buffer.