Clear shipping updates and price hikes effective June 1 — but no price hikes for those who pre-order
As part of Thursday’s quarterly update, Lucid confirmed the price increase across its entire lineup and confirmed that it is still on track to produce between 12,000 and 14,000 vehicles by the end of the year.
In the first quarter of 2022, Lucid delivered 360 vehicles — up from 125 in the fourth quarter of 2021. And perhaps confirming that the pace is accelerating, it noted that it delivered more than 300 vehicles in April alone. . In the first quarter, it confirmed that it built nearly 700 cars at its plant in Arizona.
Lucid still plans to start offering Air Grand Touring Performance—A 1,050-horsepower model announced last month that delivers near-performance to the sold-out Dream Edition Performance — starting in June. Then, both Air Touring and Air Pure arrive before the end of the year. The Gravity SUV will continue to operate in the first half of 2024.
Unlike Rivian, the first time in March tried price increase up to 20% for first adopters and those who book, then reverse the process, Lucid will apply the current rate to all bookings made (currently over 30,000). It allows new reservations until June 1 to close the number.
2021 Lucid Air
After the price increase, the Air will cost $155,500 for the Grand Touring, $108,900 for the Touring, and $88,900 for the Pure. The Air Grand Touring Performance is priced at $180,500. All of these totals include a $1,500 destination fee.
CEO Peter Rawlinson confirmed once again that the Air Pure version will achieve a range of more than 400 miles from a battery pack of less than 90 kWh. He calls the ability to use this smaller battery a “commercial advantage over the competition.”
As for competition, Rawlinson didn’t point out Tesla as a competitor. “The electric vehicle market is not a zero-sum game today,” he argues. “We compete in the global auto market and let’s not forget that our main competitor is petrol cars, not other electric vehicles.”
The Air achieves a range of up to 520 miles in the newly launched Air Dream Edition Range form and up to 516 in the Grand Touring guise. Its emphasis on efficiency, technical innovation and vertical integration, in ways that will affect entire markets and industries, is what has earned it. Green car report Best car to buy in 2022.
Lucid Saudi Arabia Render
Lucid’s booking numbers do not include any increase in the deal with Saudi Arabia announced last month — in which the government will buy up to 100,000 Lucid vehicles over a period of 10 years. From the car manufacturer Second factory, in Saudi Arabiawill begin vehicle production in 2025. COO Sherry House added that the Saudi deal is based on a standard retail price, not a negotiated fleet agreement.
Also of note: Lucid summed up that it delivered 11 over-the-air updates in Q1, including many that directly address customer feedback — including small details like how hands are working. doorknob.
Lucid executives suggest that the push within the company is that cars, rather than the company’s energy storage products, remain part of the company’s future model. However, House added that the combination of efficiency and two-way charging technology will be “a really important part of the value proposition” to potential customers.
And that certainly won’t be all news from the California-based automaker. Lucid also said it will detail its plans for the European market next week.
