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EV Startup Lucid will raise vehicle prices even if losses are narrow

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Manufacturer of electric cars Conscious Group Inc. reported lower losses in the first quarter of 2022 and said it would raise vehicle prices starting in June, citing a change in the environment since it first set prices in September 2020.

Lucid said Thursday it recorded a net loss of $ 81.3 million for the January-March period compared to a loss of $ 2.9 billion for the same period a year ago. The company stuck on its own production prospects from 12,000 to 14,000 vehicles in 2022, a forecast he lowered earlier this year, citing supply chain disruptions and problems with obtaining items such as glass and carpet. Lucid said he continues to face logistics problems, citing the closure of factories in China related to Covid-19.

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