Lucid leverages demand for Air EV with $179,000 performance version

Luxury electric vehicle startup Lucid is launching a new range-topping version of its Air sedan after selling out the $169,000, limited-run Dream Edition that launched the brand. And the new trim is even more expensive.

The freshly added Performance version of the Air Grand Touring is essentially a replacement for the Dream Edition in terms of features. Prices start at $179,000, excluding shipping, and deliveries are slated for June, Lucid said. In Canada, the price will be CA$242,000 with deliveries beginning in August.

"Lucid Air Grand Touring Performance answers the strong demand we continue to see for higher-performance versions of the Lucid Air," CEO Peter Rawlinson said in a statement Tuesday.

Last month, Rawlinson hinted at a higher-end Air trim, along with possible price hikes because of rising material costs. Lucid, which sells directly to buyers, didn't announce any price increases for other versions of the Air.

The Air Grand Touring Performance will have 1,050 hp and accelerate to 60 mph in 2.6 seconds, Lucid said. The sport variant will have an EPA-estimated driving range of 446 miles on a single charge. Like other Grand Touring trims, it will have dual motors and all-wheel drive.

The regular version of the Air Grand Touring, which is currently being delivered to customers, has 819 hp and runs to 60 mph in 3.0 seconds, Lucid said. It has an estimated range of 516 miles on standard 19-inch wheels and starts at $139,000 excluding shipping.

The Dream Edition came in two variants. The Range version had 520 miles of range and 933 hp and the Performance version had 471 miles of range and 1,111 hp. The Dream Edition Performance accelerated to 60 mph in 2.5 seconds, which is nearly identical to the Grand Touring Performance.

During an earnings call last month, Rawlinson said that the Dream Edition was oversubscribed and the automaker was "looking at how we can address that latent demand out there for our higher-end products." Lucid limited the Dream Edition to 520 units.

Like other automakers — startups in particular — Lucid is struggling with supply chain shortages that will significantly reduce production this year. Lucid estimates 2022 output at between 12,000 and 14,000 units of the Air sedan in various trim levels.