Tesla announced yesterday an increase in its prices ranging from $1,000 to around $1,600 for certain Model Y and Model 3 copies produced in China and the United States. The electric carmaker has raised the prices of its US Model Y SUVs and Model 3 Long Range sedans by $1,000 each and some Chinese-made Model 3 and Model Y vehicles by 10,000 yuan ($1,582), according to its website. The group raised the prices of the most affordable versions of the Model 3 and Model Y about a dozen times last year in the United States, according to data tracked by Reuters. The U.S. price of the automaker's Model Y Long Range car jumped 20% from January 2021, as an example.
The move comes in the face of soaring raw material costs, aggravated by Russia's invasion of Ukraine. Rising prices for nickel, lithium and other materials threaten to slow and even temporarily reverse the long-term trend of falling costs for batteries – the most expensive part of electric vehicles – hampering wider adoption. broad technology, according to an expert quoted by Reuters.
Taiwanese electronics giant Foxconn, Apple's main supplier, announced on Monday that it was suspending its activities in the Chinese technology center of Shenzhen, confined by the government due to an epidemic wave of Covid-19.