Current reservation holders and those who convert to a sale before June 1 won’t see higher prices. Lucid claims that 30,000 individuals have expressed interest in its vehicles. That is on top of the hundreds of millions of dollars expended in 2020 as the EV maker announced pricing and its production plans. The company lost $2.58 billion in 2021 and spent more than $500 million in stock-based compensation. The company says it has enough cash on hand to last through 2023. On the financial front, Lucid has $5.4 billion in reserve, although it burned through $870 million in the first quarter alone. Lucid says it is on track to build 12,000 to 14,000 copies this year, as recently adjusted.
In the first quarter, Lucid built 360 units, up from the 125 manufactured during the fourth quarter of 2021. Lucid Motors remains relatively strong, despite slower initial manufacturing. Buyers may be eligible for a $7,500 federal tax credit in addition to state and local incentives. The latest Lucid Air model was announced only two weeks earlier, therefore it will remain priced at $179,000. One price will remain stable and that one covers the product-line-topping Lucid Air Grand Touring Performance model. Inflation is taking its toll everywhere and manufacturers are passing these costs to consumers. The price increases reflect in part the higher cost of materials. The standard Air Pure model will cost $87,400 for Air Pure. It hasn't yet started on its Casa Grande, Arizona plant, so owners hoping for a slightly less expensive alternative to Tesla might be waiting for quite some time.The price increases mean that customers will pay from $154,000 for the Air Grand Touring and $107,400 for the Air Touring. The company estimates that it will take 24 months from the start of facility construction to production beginning. The previously mentioned release date of 2019 operates on the premise that Lucid can get its facilities up and running quickly. Once you start adding additional equipment, the prices seem to reach parity. The 218-mile Tesla Model S 60 starts at $68,000, and if the Model 3 starts moving out of showrooms like Tesla hopes it will, those tax incentives will shore up, and quick. Pricing the Air at $60,000 could hit Tesla where it hurts. Only 255 will be made, and Lucid offered no additional details, other than saying its MSRP will be over $100,000. It'll also carry special colors and badges. This one will include a number of the aforementioned upgrades, like a 315-mile range and the 1,000-horsepower motor configuration. Lucid will also offer a Launch Edition of the Air. Lucid doesn't have specific pricing for its most expensive models just yet. Reclining executive rear seats will be available, as will 22-way massaging front seats, a glass roof and a 29-speaker audio system. You can do that with options that include a larger battery (with a range of 315 or 400 miles, allegedly) and up to 1,000 horsepower thanks to an extra electric motor. Of course, you can always option a Lucid Air so that it clears the $100,000 mark.
LUCID CAR PRICE UPDATE
Thus, like Tesla, its equipment will likely be used for driver-assistance systems until a later over-the-air update that engages some degree of autonomy. Vaporware or not (and it probably isn't), the Air is one seriously pretty luxury sedan.Įven though the car is still upward of a year away - that's if we take Lucid at its word for production scheduling - it's highly unlikely that the car will debut with autonomous capabilities.
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