Tesla, SpaceX facing significant inflation risks: Elon Musk
Tech billionaire Elon Musk has said that his electric car manufacturing firm Tesla and rocket company SpaceX are facing significant inflationary pressures in raw materials as well as logistics.
“Tesla and SpaceX are seeing significant recent inflation pressure in raw materials and logistics,” Musk said in a tweet on Sunday.
He, however, said his companies “are not alone”, as the Ukraine-Russia conflict sent commodity prices to their highest levels since 2008.
Rising nickel prices, owing to the Russian invasion of Ukraine, have thrown a spanner in Musk and other automakers’ dream of introducing affordable electric cars soon.
