Lucid is the latest automaker to raise the price of its electric vehicles. Other electric vehicle makers such as Tesla have raised the prices of their products in the last month due to rising raw material prices and supply chain problems.
The company announced a 13 percent increase in the price of its Lucid Air electric sedan starting June 1. The announcement coincides with the company reporting its first-quarter earnings.
âAll existing reservation holders will not experience a price increase.â the company said.
See also: Lucid Air set for European Market in June or July
For the price, the Air Grand Touring model will go up by around US$15,000 to US$154,000.
The Air Touring model also rose 12,400 US dollars to 107,400 US dollars, while the Air Pure model also saw an increase of 10,000 US dollars to 87,400 US dollars.
The company says the Lucid Air Grand Touring Performance model, which was announced two weeks ago, has not increased and is still priced at $179,000.
On the other hand, automakers such as Tesla and Rivian have also announced similar price increases for their electric vehicles due to ongoing supply chain problems as well as the Russian invasion of Ukraine.
See also: Lucid unveiled Air Grand Touring Performance with a 1,050 hp and 446-miles range
âSimilar to many companies in our industry, we continue to face global supply chain and logistics challenges, including Covid-related factory closures in China.
We are working with suppliers to reduce the impact of the disruption,â said Sherry House, Lucid . CFO
Lucid delivery guidelines have not changed, and the company expects deliveries of the Air Grand Touring Performance in June, with the Air Touring and Air Pure being delivered in stages later this year.
The company also noted that it recently signed a deal in which the Saudi Arabian government commits to order up to 100,000 electric vehicles from Lucid over the next 10 years.
