Tesla Inc raised its prices in China and the United States for the second time in less than a week, after CEO Elon Musk said the US electric carmaker was facing significant inflationary pressures in raw materials and logistics.
see photosTesla’s China-made Model 3 vehicles are seen during a delivery event at its factory in Shanghai
Tesla Inc raised its prices in China and the United States for the second time in less than a week after CEO Elon Musk said the US electric carmaker was facing significant inflationary pressures in raw materials and logistics. Supply chain disruptions following Russia’s invasion of Ukraine have led to rising raw material costs. Prices for metals used in cars have risen, including aluminum used in bodywork, palladium used in catalytic converters and nickel and lithium to power electric vehicle (EV) batteries. The cost has raised concerns about EV economics, as legacy automakers and startups prepare to launch new cars in the face of a long semiconductor supply crunch that is still knocking production at companies including Toyota and Volkswagen. .
Tesla with a diverse supply chain has bought “millions” https://www.cnbc.com/2022/03/14/tesla-has-bought-aluminum-from-russian-supplier-rusal-since-2020.html CNBC reported on Monday, citing internal documents, that “euro worth of aluminum from Russian aluminum giant Rusal”.
Britain has approved the billionaire founder of Rusal, Oleg Deripaska.
CNBC said Tesla purchased Russl Aluminum to cast parts for the Tesla Model Y at its new vehicle assembly plant outside Berlin.
Tesla received conditional approval for its 5 billion euro ($5.5 billion) German gigafactory earlier this month after months of delay.
Tesla and Russel did not immediately respond to an email seeking comment.
“Tesla and SpaceX are seeing recent inflationary pressures in raw materials and logistics,” Musk tweeted Monday, referring to his rocket company. “And we are not alone,” he said.
Tesla on Tuesday raised prices for all its models in the United States by 5%-10%, its website showed. In China, it increased the prices of some China-made Model 3 and Model Y products by about 5%.
Last week, the company increased the prices of its US Model Y SUVs and Model 3 long range sedans and some China-made Model 3 and Model Y vehicles.
($1 = 0.9095 Euro)
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(Reporting by Sophie Yu in Beijing, Brenda Goh in Shanghai, Maria Ponnezhath in Bengaluru and Sayantani Ghosh in Singapore Editing by Clarence Fernandez and Mark Potter)
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