EV Startup Lucid to Raise Vehicle Prices, Even as Losses Narrow

Electrical automobile maker Lucid Group Inc. reported narrower losses within the first quarter of 2022, and stated it could enhance automobile costs beginning in June, citing a altering atmosphere from when it first set pricing in September 2020.

Lucid stated Thursday that it recorded a web lack of $81.3 million within the January-to-March interval, in contrast with a $2.9 billion loss in the identical year-ago interval. The corporate caught with its production outlook of 12,000 to 14,000 automobiles in 2022, a forecast it decreased earlier this yr citing supply-chain disruptions and bother getting components resembling glass and carpet. Lucid stated it continues to face logistics challenges, citing manufacturing facility shutdowns in China associated to Covid-19.

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