Electric car maker Lucid Group Inc. reported narrower losses in the first quarter of 2022, and said it would increase vehicle prices starting in June, citing a changing environment from when it first set pricing in September 2020.
Lucid said Thursday that it recorded a net loss of $81.3 million in the January-to-March period, compared with a $2.9 billion loss in the same year-ago period. The company stuck with its production outlook of 12,000 to 14,000 vehicles in 2022, a forecast it reduced earlier this year citing supply-chain disruptions and trouble getting parts such as glass and carpet. Lucid said it continues to face logistics challenges, citing factory shutdowns in China related to Covid-19.
