The Clap
In light of decades-high inflation & increasing raw material costs, Tesla has raised prices for all its electric vehicle (EV) models.
The deets
For EV makers, raw materials like aluminum, lithium, & semiconductors are leading the supply crunch on these companies.
Another reason for the increase in prices is the high demand for EVs, as rising gas prices continue to take their toll on consumers.
Why this matters
Tesla isn’t the only EV maker raising prices. EV startup Rivian, & giant automaker Ford Motors have also upped prices for their EV models for the same reasons.
The average price of a U.S. EV now stands at over $60,000, according to Bloomberg.
