Though Lucid has encountered considerable roadblocks, the marque has shown improvement since the fall.
from more established rivals such as Tesla and Ford. The company responded earlier this month by offering a $7,500 discount on Airs purchased before March 31. The Touring version of the brand’s sole EV starts at $107,400, while the Grand Touring variant, which offers an industry-leading range of 516 miles, starts at $138,000.
As a result of Wednesday’s bad news, Lucid shares fell 11 percent after the close of business. By the time trading resumed on Thursday, the price had fallen 14 percent,. As bad as things may seem right now, they have actually improved since the beginning of last fall. The company ended last year with $4.4 billion in cash after Saudi Arabia’s Public Investment Fund upped its share in the company to 62 percent. It also has access to an additional $500 million via credit.
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