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Tesla increases prices after CEO Elon Musk tweets about inflation

By Rich Klein
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Tesla increases prices after CEO Elon Musk tweets about inflation
Tesla founder and CEO Elon Musk, seen here in October. The company early Tuesday raised prices on all its vehicles. Photo courtesy of Tesla. 

March 15 (UPI) -- Tesla early Tuesday raised prices on all its vehicles in the United States -- two days after CEO Elon Musk said on Twitter that the auto company and his SpaceX business were feeling the pressure of inflation.

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The company raised prices on all of its cars in the United States and on its Model 3 and Model Y vehicles in China.

Nickel is one material used in electric vehicle batteries that has risen in price.

Tesla's cheapest electric car, the Model 3, has a new starting price of $47,000, representing an increase of about $2,000, according to a report in electrek, a news website that covers electric transportation and sustainable energy.

Last week, Tesla put in place its first price increase of the year, charging an additional $1,000 for all vehicles equipped with long-range battery packs.

Meanwhile, Tesla has been purchasing aluminum from a Russian company (Rusal) since 2020, according to CNBC. The report said that there's no indication that Musk's company has ceased doing business with Rusal since Russia invaded Ukraine in late February.

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Musk, known for making statements that get attention, on Monday also challenged Russian President Vladimir Putin to a fight, with the winner taking Ukraine.

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