Lucid Motors is raising the prices of its luxury electric vehicles, as the company continues to struggle with production. The company reported delivering only 360 vehicles to customers in the first quarter of 2022.

As of June 1st, Lucid’s newly increased prices will be $154,000 for the Air Grand Touring (previously $139,000), $107,400 for Air Touring (up from $95,000), and $87,400 for Air Pure (up from $80,000). That represents an average increase of around 11 percent. The new Lucid Air Grand Touring Performance model, announced just two weeks ago, will remain priced at $179,000. (All of Lucid’s vehicles are eligible for the $7,500 federal EV tax credit as well as any available state and local incentives.)

In a call with investors, Lucid CEO Peter Rawlinson said the company would be honoring the original prices for existing reservation holders, addressing a key point that caused an uproar when Rivian announced a similar price increase.

“The world has changed dramatically from the time we first announced Lucid Air back in September 2020,” Rawlinson said on the call. “And I want to assure our existing reservation holders that we will be honoring current pricing for all existing customers as well as new reservations made before the end of the month. In order to ensure fairness and prioritization, we will be reaching out to reservation holders to…



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