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Elon Musk says Tesla, SpaceX dealing with vital inflation pressures – Nationwide

Elon Musk says Tesla, SpaceX dealing with vital inflation pressures – Nationwide

Tesla Inc Chief Government Officer Elon Musk mentioned on Sunday the U.S. electrical carmaker and his rocket firm SpaceX are dealing with vital inflationary pressures in uncooked supplies and logistics.

Musk in a tweet additionally requested about inflation price outlook and mentioned his corporations “should not alone”, retweeting an article saying Russian battle despatched commodity costs to highest degree since 2008.

Russia‘s invasion of Ukraine is ramping up the costs of metals utilized in vehicles, from aluminum within the bodywork to palladium in catalytic converters to the high-grade nickel in electrical automobile batteries, and drivers are more likely to foot the invoice. Whereas metals haven’t been the goal of Western sanctions but, some shippers and auto-parts suppliers are steering away from Russian items, placing extra strain on carmakers already reeling from a chip scarcity and better power costs.

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(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Modifying by Rashmi Aich and Sherry Jacob-Phillips)

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