Tesla Inc. raised costs of its US Model Y SUVs and Model 3 Long Range sedans and a few China-made Model 3 and Model Y autos, in keeping with its web site.
View PhotosTesla Model 3 sedans and Tesla Model X sport utility automobile at a brand new Tesla showroom
Electric-car maker Tesla Inc on Wednesday raised costs of its US Model Y SUVs and Model 3 Long Range sedans by $1,000 every and a few China-made Model 3 and Model Y autos by 10,000 yuan ($1,582.40), in keeping with its web site.
The firm elevated costs for probably the most inexpensive variations of Model 3 and Model Y a couple of dozen occasions final yr within the United States, in keeping with information tracked by Reuters.
The US value of the EV maker’s Model Y Long Range automotive has jumped 20% from January 2021, together with a ten.6% hike for its Model 3 Long Range sedan throughout the identical interval.
China-made Model 3 autos are seen throughout a supply occasion at its manufacturing unit in Shanghai
Photo Credit: REUTERS/Aly Song/Files
The transfer comes amid surging uncooked materials prices, made worse by Russia’s invasion of Ukraine, and will set again the dream of Tesla Chief Executive Elon Musk and different auto executives to roll out extra inexpensive electrical autos.
Rising costs of nickel, lithium and different supplies threaten to gradual and even quickly reverse the long-term pattern of falling prices of batteries – the most costly a part of EVs – hampering the broader adoption of the know-how, mentioned Gregory Miller, an analyst at trade forecaster Benchmark Mineral Intelligence.
($1 = 6.3195 Chinese yuan)
(Reporting by Hyunjoo Jin in San Francisco and Abinaya Vijayaraghavan in Bengaluru; enhancing by Uttaresh.V)
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With inputs from NDTV
