Lucid is providing an $18,000 worker low cost to assist workers purchase a dear Air

• EV startup Lucid Motors simply launched an worker buy program.
• Staff who purchase the $154,000 Air Grand Touring get a large low cost, paid out over time.
• Lucid noticed reservations drop from 37,000 in Q2 to 34,000 in Q3, due partially to cancellations.

Lucid Motors is providing employees an $18,000 low cost to purchase an Air by the top of the 12 months, the electrical automobile startup confirmed to Insider. 

This week, Lucid started providing all full-time common U.S. workers a “stipend” to purchase the Lucid Air Grand Touring, in line with an inner e-mail seen by Insider. The Grand Touring is the present range-topping mannequin now that the Dream Version has offered out, although the extra highly effective Air Sapphire will quickly retake the crown. The Grand Touring begins at at $154,000.

Staff who buy a Grand Touring and take supply by Dec. 31 will obtain $500 every pay interval (which covers two weeks) till the funds complete $18,000, offered they proceed to work at Lucid. The corporate additionally stated availability and configurations are restricted.

“Now we have at all times wished to seek out the best time to assist reward our workers who have been eager about driving a Lucid Air each day,” Lucid spokesperson Nat Lingo advised Insider. “With our current ramp up, we’ve been in a position to honor this request from our crew.”

This system might assist Lucid juice supply numbers earlier than year-end, because it ramps up manufacturing of its flagship Air sedan. As of the third quarter, Lucid had produced a complete of three,687 automobiles this 12 months, and is concentrating on constructing between 6,000 and seven,000 automobiles in 2022. It has not but given 2023 steering. 

In the meantime, Lucid noticed reservations drop from 37,000 in Q2 to 34,000 in Q3, which CFO Sherry Home attributed to a mixture of deliveries made and buyer cancellations. 

Even with reservations declining, the corporate has hundreds of reservations to meet — together with an order for as much as 100,000 automobiles from Saudi Arabia’s authorities. 

A former worker advised Insider that regardless of worker curiosity, this sort of program was not provided earlier as a result of firm’s order quantity.

Unconfirmed studies have stated startup Rivian has additionally launched an worker buy program.

Are you a present or former Lucid worker? Do you personal a Lucid automobile? Do you’ve a information tip or opinion you’d prefer to share? Contact this reporter from a non-work machine and account at astjohn@insider.com or on Sign at 313-570-6709.