Elon Musk's inflation concerns
SpaceX and Tesla founder Elon Musk reported that their companies are facing inflation ary pressures due to raw material and logistics...
Yayınlanma: 15 Mart 2022 02:45
Güncellenme: 12 Mayıs 2024 04:33
Asking the question "What do you think about inflation in the next few years?" to his followers on his Twitter account, Musk stated that Tesla and SpaceX are facing inflation ary pressures due to raw material and logistics problems.
Sharing an article from his account that the Ukraine-Russia conflict has seen the fastest increase in commodity prices since 2008, Musk used the phrase "We are not alone".
Due to Russia's occupation of Ukraine, the prices of many raw materials used in the automotive industry, from aluminum to palladium, have increased.
Although Western sanctions do not target the metals in question, the refusal of some automotive suppliers to do business with Russia is putting new pressure on the automotive industry, which is already struggling with the chip crisis and high energy costs.
Tesla shares ended Friday at $795.35, down 5%. Shares of the company have dropped nearly 25 percent since the beginning of the year.
Last week, Tesla announced that some of its models were getting a raise.
