Lucid Presents Workers $18,000 Reductions on Its Luxurious EV

  • The EV startup Lucid Motors simply launched an employee-purchase program.
  • Workers who purchase the $154,000 Air Grand Touring get a large low cost, paid out over time.
  • Lucid noticed reservations drop from 37,000 in Q2 to 34,000 in Q3 due, partly, to cancellations.

Lucid Motors is providing staff an $18,000 low cost to purchase its luxurious automobiles by the top of the yr, the electric-vehicle startup informed Insider. 

This week, Lucid started providing all full-time common US staff a “stipend” to purchase the 2022 Grand Touring, based on an inside e mail Insider seen. The Grand Touring is the corporate’s third variant behind the restricted Air Dream Version and Grand Touring Efficiency. Pricing begins at $154,000.

Workers who buy a Grand Touring and take supply by December 31 will obtain $500 every pay interval, which covers two weeks’ price of funds, till the funds complete $18,000, supplied they proceed to work at Lucid. The corporate additionally mentioned availability and configurations are restricted.

“We’ve got at all times needed to seek out the precise time to assist reward our staff who had been involved in driving a Lucid Air daily,” Nat Lingo, a spokesperson for Lucid, informed Insider. “With our current ramp up, now we have been capable of honor this request from our staff.”

This system may assist Lucid juice supply numbers earlier than the yr’s finish because it ramps up manufacturing of its flagship Air sedan. As of the third quarter, Lucid had produced a complete of three,687 autos this yr, and initially aimed to construct between 6,000 and seven,000 autos in 2022. It has not but given 2023 steerage. 

In the meantime, Lucid noticed reservations drop from 37,000 in Q2 to 34,000 in Q3, which Sherry Home, the CFO of Lucid, attributed to a mixture of deliveries made and buyer cancellations. 

Even with reservations declining, the corporate nonetheless has hundreds of reservations to meet — together with an order for as much as 100,000 autos from the Saudi Arabian authorities. 

A former worker informed Insider that regardless of worker curiosity, Lucid didn’t provide such a program earlier because of the firm’s order quantity.

Unconfirmed studies have mentioned the EV startup Rivian has additionally launched an employee-purchase program.

Are you a present or former Lucid worker? Do you personal a Lucid automobile? Do you could have a information tip or opinion you’d wish to share? Contact this reporter from a non-work gadget and account at astjohn@insider.com or on Sign at 313-570-6709.

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