The price of its electric vehicles have been raised for the second time in a month. After adding $1,000 to some long-range models last week, the automaker has now implemented a much larger price increase across its lineup. The base Model 3 now costs $46,990, $2,000 higher than before. The Performance version of the Model 3 is now $6,000 more expensive at $61,900, and the dual motor All-Wheel Drive version is $2,500 more expensive at $54,490.
The Long Range version of the Model Y now starts at $62,990, or $2,000 higher than before. The price of the Performance version has been increased by $3,000, so it will now cost you $68,990. You'll have to spend at least $100,000 for one of the two Model S options, because they have added $5,000 on top of their previous prices. The Model X has a price increase of $10,000 more than the other EVs.
Although Tesla has quietly raised prices overnight, the move didn’t come out of left field. On Twitter, company chief Elon Musk hinted at the possibility of a price hike. He said both Tesla and SpaceX are seeing “significant recent inflation pressure in raw materials [and] logistics.” He didn’t elaborate, but he linked to an article about commodity prices soaring due to fears over the shortage of raw materials that Russia exports.The price of nickel has more than doubled since the war started, and it is one of the materials affected by the Russian invasion of Ukraine. Russia is a key supplier of metal, which is used in batteries for electric vehicles. The rise in gas prices has led to a surge in new orders for electric vehicles by the company.
What are your thoughts about probable inflation rate over next few years?
— Elon Musk (@elonmusk) March 13, 2022
The article originally appeared on Engadget.
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