Lucid Motors has announced a spate of price hikes for its battery-powered luxury sedan, the Air. The increase, which will come into effect on June 1, will see the EV's MSRP jump considerably. The entry-level Pure model will receive a substantial $10,000 increase, upping the $77,400 cost of entry to $87,400. The mid-range Touring model sees an even bigger jump in its price; from $95,000 to $107,400.

Lastly, the $139,000 Grand Touring will set buyers back $154,000 as of June 1. Thankfully, the list price of the recently revealed GT Performance model will remain unchanged, at $179,000. These changes were announced at the company's first-quarter 2022 earnings call, with CEO Peter Rawlinson noting "the world has changed dramatically from the time we first announced Lucid Air pricing in September 2020."

If you've been reluctant to pull the trigger on a Lucid Air reservation, now is the time to do so. Orders placed between now and the beginning of June will still carry the outgoing pricing. Current reservation holders can rest easy as well. "I want to reassure our existing reservation holders that we will be honoring current pricing for them," added Rawlinson.

Despite incredible demand for the elegant electric vehicles - Lucid currently has more than 30,000 reservations - the company managed to deliver just 360 vehicles to customers in the first quarter of 2021. Hopefully, the company will be able to meet this strong demand before reservation holders abandon ship and look elsewhere.

Lucid has already had to cut its 2022 production outlook from 20,000 to 12,000-14,000 vehicles. This will undoubtedly delay deliveries, but the company had no choice. "This reflects the extraordinary supply chain and logistics challenges we've encountered and our unrelenting focus on delivering the highest quality products," said the CEO at the time.

There are plans afoot to remedy the situation. The company has previously announced a planned expansion of its Casa Grande plant, along with intentions to build a brand new production facility in Saudi Arabia. With its order book bursting at the seams - and the Gravity expected in the next few years - the company will have to kick production into full swing to meet demand - but it won't be easy.

"Similar to many companies in our industry, we continue to face global supply chain and logistics challenges, including COVID-related factory shutdowns in China," said company CFO Sherry House. "We are working closely with our suppliers to mitigate the impact of disruptions."

Lucid Motors isn't the only EV maker to increase prices across the board. Recently, rival Tesla announced revised pricing across the board; a Model S Plaid, for example, is now $6,000 costlier than before, setting buyers back a hefty $135,990.