Startup electric automaker Lucid Group Inc. on Thursday raised prices for most models from June after it posted a $598 million operating loss for the first quarter.
The automaker said it is grappling with rising raw materials costs, but said it would honor current reservations in a move to avoid the blowback a rival faced.
From June 1, new reservations in the U.S. will be priced at $154,000 for Air Grand Touring, $107,400 for Air Touring and $87,400 for Air Pure models, the company said.
“Similar to many companies in our industry, we continue to face global supply chain and logistics challenges, including Covid-related factory shutdowns in China,” CFO Sherry House said.