Lucid Group Inc. delivered just 360 Air sedans in the first quarter and said it will increase vehicle pricing next month.
The California electric vehicle startup continues to struggle with supply chain shortages and rising costs despite a healthy order backlog of 30,000 vehicles, Lucid said during its first-quarter earnings call Thursday. Prices would not rise for current reservation holders.
CEO Peter Rawlinson said that despite the modest delivery numbers, Lucid showed improvement in deliveries to start the second quarter.
"In April alone, we delivered well over 300 vehicles, demonstrating our accelerated production ramp," Rawlinson said. Total production in the first quarter was 700 vehicles, Lucid said.