EV maker Lucid to launch luxury sedans in Europe in late 2022

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May 10 (Reuters) – Electric carmaker Lucid Group (LCID.O) plans to launch luxury sedans in Europe later this year, as the Tesla rival aims to expand its footprint outside the United States amid strong global demand for electric vehicles (EVs).

The company will launch its Lucid Air Dream Edition P and R sedans in limited numbers for customers in Germany, Netherlands, Switzerland and Norway in late 2022, it said in a statement on Tuesday.

Lucid added it would price its Air Dream Edition P/R at about 218,000 euros ($230,208.00) in Germany.

 Last week, the company said it would raise prices for most models from June as it deals with rising raw materials costs, but said it would honor current reservations in a move to avoid the blowback a rival faced.

Lucid said on Tuesday it also plans to open its first European retail location in Munich on May 13, adding it aims to open additional studio and service center locations in Europe this year.

The California-headquartered company, which makes its vehicles at an Arizona plant, last week reiterated its 2022 production volume outlook of 12,000 to 14,000 vehicles.

($1 = 0.9470 euros)

Reporting by Shubhendu Deshmukh and Akriti Sharma in Bengaluru; Editing by Sherry Jacob-Phillips