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May 23, 2022, 5:01 a.m. EDT

Lucid Air EVs just went up in price by five figures

By Sean Tucker

Electric automaker Lucid (NAS:LCID) has already mounted a challenge to Tesla (NAS:TSLA) with its opulence and startling range. Now, it’s copying Tesla’s habit of big mid-stream price increases.

The company’s  Lucid Air luxury sedan has the longest EPA-certified range, at up to 520 miles between charges. The car has real presence, with a low, wide look that at once seems tailored yet huge.

Like the Tesla Model S, it promises to do almost everything. The most high-performance version leaps from 0-60 mph in just 2.5 seconds. Its spacious cabin suggests the kind of luxury buyers expect from flagship sedans like the BMW 7 Series or Audi A8. A high-tech driver-assist system with 32 cameras doesn’t quite make the car autonomous, but the potential is obvious.

The Model S is famous for all the same things. But it’s also known for its rapid price jumps. Its entry price went from $69,420 in October 2020 to $104,490 by the start of 2022.

Lucid may steal that trick, too. The company announced a round of five-figure price increases recently.

The new prices:

Lucid also charges a $1,500 destination fee for all its cars.

Model MSRP Increase
Air Pure $87,400 $10,000
Air Touring $107,400 $12,400
Air Grand Touring $154,000 $15,000
Air Grand Touring Performance $179,000 none

Customers who have already placed a reservation will not be affected by the increases.

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The company plans to reveal its second vehicle, the Gravity SUV, later this year.

This story originally ran on KBB.com.

Link to MarketWatch's Slice.