The company increased prices for the most affordable
versions of Model 3 and Model Y about a dozen times last year in the US,
according to data tracked by Reuters.
The US price of the EV maker's Model Y Long Range car has
jumped 20 percent from January 2021, along with a 10.6 percent hike for its
Model 3 Long Range sedan during the same period.
The move comes amid surging raw material costs, made worse
by Russia's invasion of Ukraine, and could set back the dream of Tesla Chief
Executive Elon Musk and other auto executives to roll out more affordable
electric vehicles.
Rising prices of nickel, lithium and other materials
threaten to slow and even temporarily reverse the long-term trend of falling
costs of batteries — the most expensive part of EVs — hampering the broader
adoption of the technology, said Gregory Miller, an analyst at industry forecaster
Benchmark Mineral Intelligence. © Reuters
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