Following in Tesla’s footsteps, this EV maker is raising car prices in Canada

You’re here TSLA raised prices for its Model Y SUV models in Canada last week, and the luxury electric vehicle maker LucidGroup, Inc. LCID followed in his footsteps.

What happened: Lucid has raised prices on all versions of its Air Sedan models in Canada except for the recently launched Air Grand Touring Performance variant, Drive Tesla Canada reported, citing emails the company sent to reservation holders.

The base version – Air Pure – is now priced at CD$119,000, up 13.3% from the previous CD$105,000. The price of Air Touring increased from CD$17,000 to CD$146,000, an increase of 13.2%. The price of the Air Grand Touring has been revised upward by CD$21,000 or 11.1% to CD$189,000.

Pricing for the Air Grand Touring Performance variant remained unchanged at CD$242,000.

Lucid has not yet delivered vehicles to customers in Canada.

Related Link: Tesla Battery Supplier CATL Says It’s Actively Exploring U.S. Manufacturing Plant Sites

Why is this important: Lucid announced in its earnings report on Thursday price increases, an average of 11%, for the three models in the United States. The company, however, said updated pricing for Canada will be available on its Canadian website on June 1.

Component shortages and inflation in input costs have forced industry players to announce price increases for their vehicles. Market leader Tesla has announced several upgrades to its models globally since last year.

Lucid closed Friday’s session down 3.71% at $18.15, according to Benzinga Pro.

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