Lucid Motors announced on Thursday evening its Q1 2022 Earnings Results reporting a total revenue of $57.7 million and 360 vehicles delivered to customers in the first quarter. The EV maker said it is experiencing strong demand with more than 30,000 customer reservations, representing potential sales of $2.9 billion, the company said.
|Model||Price until June 1, 2022||Price after June 1, 2022||Change|
|Lucid Air Grand Touring||$139,000||$154,000||$15,000|
|Lucid Air Touring||$95,000||$107,400||$12,400|
|Lucid Air Pure||$77,400||$87,400||$10,000|
|Lucid Air Grand Touring Performance||$179,000||$179,000||$0|
“As of June 1, new reservations will be priced in the U.S. at $154,000 for Air Grand Touring, $107,400 for Air Touring and $87,400 for Air Pure. The price for the new Lucid Air Grand Touring Performance model, announced just two weeks ago, will remain priced in the U.S. at $179,000.
These prices are for base models and updated pricing for Canada will be available on June 1, 2022, the company said.
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As Lucid‘s CEO/CTO, Peter Rawlinson, stated, “We announced today that we are increasing prices of our vehicles that will go into effect at the beginning of June. The world has changed dramatically from the time we first announced Lucid Air pricing in September 2020, but I want to reassure our existing reservation holders that we will be honoring current pricing for them as well as for any new reservations made before the end of the month.” Rawlinson added, “Looking forward, we remain intently focused on ramping production and are excited about our product roadmap in 2022 and beyond, with Air Grand Touring Performance deliveries expected in June, Air Touring and Air Pure later this year, and our Project Gravity SUV remaining on target to begin production in the first half of 2024.”
On April 27, Lucid announced an agreement with the Government of Saudi Arabia to deliver up to 100,000 vehicles over a ten-year period, with an initial commitment to purchase 50,000 vehicles and an option to purchase up to an additional 50,000 vehicles over the same period.
Lucid will inaugurate its first European showroom in Germany in May amid global expansion. The confirmation was made through a billboard placed on Terminal 2 in Munich (Germany) saying: “Visit our Lucid Studio in Munich. Opening May 2022.”