Lucid is raising prices on the Air, but it's not too late to lock in the former pricing.
The new pricing is as followsLucid Air Grand Touring PerformanceThe new pricing only applies from June 1, and reservation holders with the previous pricing won't have to pay the higher prices once it's time to convert those reservation to orders, Lucid has confirmed.
Although Lucid has thoroughly impressed with the Air, the company has been struggling with production. It reported delivering just 360 units to customers in the first quarter of 2022. The company also reported a loss of $81 million in the quarter on sales of $58 million. There are some bright spots. The loss is much smaller than the $2.9 billion Lucid lost in 2021, and Lucid is sitting on about $5.4 billion in cash reserves to keep it running through 2023. The company also said it has 30,000 reservation for the Air, plus a purchase agreement from main shareholder Saudi Arabia for 100,000 vehicles.
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