Tesla fans previously complained about the sudden price hike of Elon Musk’s popular electric cars. Because of this, the tech CEO finally confirmed that issue regarding the mess that the giant EV manufacturer is currently facing. 

Elon Musk Finally Speaks Why His Popular Tesla EV Prices are Increasing

(Photo : Photo by Win McNamee/Getty Images)
Elon Musk, founder and chief engineer of SpaceX speaks at the 2020 Satellite Conference and Exhibition March 9, 2020 in Washington, DC. Musk answered a range of questions relating to SpaceX projects during his appearance at the conference.

Previously, Tesla raised its Model 3’s price by $2,000 to $39,990 from the base model. This information was confirmed after some people noticed the price tag difference. Furthermore, the popular Tesla Model 3, the giant EV maker, also increased its Model Y SUV price by $5,000 to $51,990. 

Elon Musk decided to disclose the reason behind the rising price issue after one of his fans asked him on Twitter. 

“Prices increasing due to major supply chain price pressure industry-wide. Raw materials especially,” said the tech CEO. 

If you will look into it, the reason behind the rapid price hike is very simple. To give you more idea, here are other details why Tesla decided to increase its electric car prices. 

Tesla’s Current Issues

According to CNN Edition’s latest report, Elon Musk recently announced that Tesla is not vulnerable to the chip shortage across the tech industry. He added that the giant electric car creator plans to make advance payment so that its partner SoC makers will have some budget to provide the needed chipsets for Teslas.

Elon Musk Finally Speaks Why His Popular Tesla EV Prices are Increasing

(Photo : Photo by Win McNamee/Getty Images)
Elon Musk, founder and chief engineer of SpaceX speaks at the 2020 Satellite Conference and Exhibition March 9, 2020 in Washington, DC. Musk answered a range of questions relating to SpaceX projects during his appearance at the conference.

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Aside from this, Tesla also announced that it plans to buy its own semiconductor plant. The company’s ongoing innovations will certainly cost it a huge amount of money. 

On the other hand, Elon Musk also confirmed that Tesla is having trouble with the increasing price of lithium, which is another essential component in the Tesla models’ batteries. 

As of the moment, the popular tech CEO hasn’t confirmed the actual budget that Tesla is currently allowing for these components.  

Other Problems of Tesla 

Because of the current issues that Tesla faces, it seems like the tech giant manufacturer is not in a good situation. Recently, the company decided to delay its Tesla Model S Plaid’s shipment date. 

The EV manufacturer confirmed that this sudden reschedule will help it complete its most-awaited Model S Plaid. And now, Tom’s Guide reported that the company pushed the shipment date once again. This means that people who pre-ordered that new electric vehicle won’t have it this coming June 3. 

Tesla now claimed that the shipment date will have before or after June 10. But, with all the production issues that the company is currently facing, this schedule is still subject to change. 

For more news updates about Tesla and other related stories, always keep your tabs open here at TechTimes.  

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Written by: Griffin Davis

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