Tesla has increased the cost of its vehicles powered by electricity to its electric vehicles for the 2nd time within the last month. In addition to the $1,000 price increase for specific long-range models earlier this week, Tesla has now enacted the most significant price increase across its entire lineup. According to Electrek, prices begin at $46,990 for Model 3’s basic Model 3, $2,000 higher than the previous. Its Model 3 Dual-Motor All-Wheel Drive is now priced at $2,500 more than $54,490. The Performance model is now priced at $3000 more, at $61,990.
The Model Y’s price begins at $62,990, up by $2,000 from the price previously available on it to be the Long Range version. Tesla has also increased the Performance version’s cost by $3000, too means it will cost you $67,990. In each of the Model S options, Tesla has added $5,000 to their previously-sold price, which means you’ll have to shell out at least $99,990 for the Model S. There’s no other EVs received a price boost that large as Model X. Model X, though, that’s now priced at an extra $10,000 at $114,990.
While Tesla has quietly increased prices in the last few hours, the change did not come out of the blue. In a tweet, SpaceX’s CEO Elon Musk suggested the possibility of an increase in prices. Elon Musk said that both Tesla and SpaceX have experienced “significant rising inflation in raw materials and logistics.” He didn’t detail the subject, but he included a link to the article on the price of commodities rising due to concerns about the scarcity of raw materials Russia exports.
One of the substances impacted by the Russian invasion of Ukraine is nickel, which has seen its price increases and more than double since the conflict began. Russia is the primary source of nickel, which is a crucial component in lithium-ion batteries utilized by Tesla and other EV makers. Furthermore, Electrek says Tesla is experiencing an enormous increase in new orders due to the increased enthusiasm for electric vehicles caused by the rising gasoline prices.