EV maker Lucid to raise prices for most models from June
2022.05.06 00:24
FILE PHOTO: People test drive Dream Edition P and Dream Edition R electric vehicles at the Lucid Motors plant in Casa Grande, Arizona, U.S. September 28, 2021. REUTERS/Caitlin O’Hara
(Reuters) -Electric carmaker Lucid Group Inc on Thursday raised prices for most models from June as it deals with rising raw materials costs, but said it would honor current reservations in a move to avoid the blowback a rival faced.
From June 1, new reservations in the United States will be priced at $154,000 for Air Grand Touring, $107,400 for Air Touring and $87,400 for Air Pure models, the company said.
“Similar to many companies in our industry, we continue to face global supply chain and logistics challenges, including Covid-related factory shutdowns in China,” Chief Financial Officer Sherry House said.
Despite the challenges, the company reiterated its annual production forecast of 12,000 to 14,000 vehicles.
Amazon-backed Rivian Automotive Inc had to earlier this year roll back price hikes on electric vehicles booked before March 1 after facing backlash from customers following a 20% increase in prices.
