CNBC news agency reported that Tesla’s electric car prices have skyrocketed in the United States and China after Tesla Inc Chief Executive Elon Musk warned of inflationary pressures on businesses.
Tesla has raised prices on all of its vehicles in the United States, while prices for the Model 3 and Model Y in China have increased for the second time in the last week.
In addition, materials such as nickel, an important component of batteries for electric vehicles, are becoming increasingly expensive.
Meanwhile, increasing lockdowns in some Chinese cities have further complicated already strained supply chains. Important components such as semiconductors remain in short supply.
On March 15, Tesla’s Chinese website listed the Model 3 Performance’s starting price at 367,900 yuan ($57,648), according to the South China Morning Post (SCMP). The car’s price was listed at 349,900 yuan on March 10 after the price was raised that day.
Currently, the Model Y Long Range is priced in China at 375,900 yuan (previously 357,900 yuan) and the Model Y Performance at 417,900 yuan (previously 397,900 yuan).