In order to try and rack up orders by the end of the year, Lucid is offering their employees an $18,000 discount to order an Air.

  • The EV startup Lucid Motors just launched an employee-purchase program.
  • Employees who buy the $154,000 Air Grand Touring get a sizable discount, paid out over time.
  • Lucid saw reservations drop from 37,000 in Q2 to 34,000 in Q3 due, in part, to cancellations.
Lucid Motors is offering workers an $18,000 discount to buy its luxury cars by the end of the year, the electric-vehicle startup told Insider.

This week, Lucid began offering all full-time regular US employees a "stipend" to buy the 2022 Grand Touring, according to an internal email Insider viewed. The Grand Touring is the company's third variant behind the limited Air Dream Edition and Grand Touring Performance. Pricing starts at $154,000.

Employees who purchase a Grand Touring and take delivery by December 31 will receive $500 each pay period, which covers two weeks, until the payments total $18,000, provided they continue to work at Lucid. The company also said availability and configurations are limited.

"We have always wanted to find the right time to help reward our employees who were interested in driving a Lucid Air every day," Nat Lingo, a spokesperson for Lucid, told Insider. "With our recent ramp up, we have been able to honor this request from our team."

The program could help Lucid juice delivery numbers before the year's end as it ramps up production of its flagship Air sedan. As of the third quarter, Lucid had produced a total of 3,687 vehicles this year, and is targeting building between 6,000 and 7,000 vehicles in 2022. It has not yet given 2023 guidance.

Meanwhile, Lucid saw reservations drop from 37,000 in Q2 to 34,000 in Q3, which Sherry House, the CFO of Lucid, attributed to a mix of deliveries made and customer cancellations.

Even with reservations declining, the company still has thousands of reservations to fulfill — including an order for up to 100,000 vehicles from the Saudi Arabian government.

A former employee told Insider that despite employee interest, Lucid did not offer this type of program earlier due to the company's order volume.

Unconfirmed reports have said the EV startup Rivian has also introduced an employee-purchase program.