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Tesla wants to lower its prices on one condition

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Manufacturers of premium and luxury electric vehicles are facing rising prices of raw materials like nickel and cobalt.

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Elon Musk and Tesla face challenges that don't seem to end. The same challenges affect the entire automotive sector and even businesses.

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The biggest of these difficulties is the profound disruption in supply chains due to the COVID-19 pandemic.

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The pandemic has prompted countries to take restrictive measures such as lockdowns to prevent further spread.

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Therefore, car makers have had to temporarily close factories located in the worst affected areas.

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Their suppliers have also been affected, leading to a lack of spare parts and chips needed to assemble some models.

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After months of stabilisation, the resurgence of Covid-19 in China this year prompted Beijing to impose a new lockdown on Shanghai.

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The billionaire has just made a decision. It is more of a promise than a decision. Tech titan says Tesla may lower its prices. It all started with a question from a Twitter user.

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"If inflation calms down, we can lower car prices," Musk replied.

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