Manufacturers of premium and luxury electric vehicles are facing rising prices of raw materials like nickel and cobalt.
Elon Musk and Tesla face challenges that don't seem to end. The same challenges affect the entire automotive sector and even businesses.
The biggest of these difficulties is the profound disruption in supply chains due to the COVID-19 pandemic.
The pandemic has prompted countries to take restrictive measures such as lockdowns to prevent further spread.
Therefore, car makers have had to temporarily close factories located in the worst affected areas.
Their suppliers have also been affected, leading to a lack of spare parts and chips needed to assemble some models.
After months of stabilisation, the resurgence of Covid-19 in China this year prompted Beijing to impose a new lockdown on Shanghai.
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.
"If inflation calms down, we can lower car prices," Musk replied.
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