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Musk in a tweet also asked about inflation rate outlook and said
his companies "are not alone", retweeting an article saying the
Ukraine-Russia conflict sent commodity prices to their highest
levels since 2008.
Russia's invasion of Ukraine has been ramping up the prices of
metals used in cars, from aluminum in the bodywork to palladium
in catalytic converters to the high-grade nickel in electric
vehicle batteries, and drivers are likely to foot the bill.
While metals have not been the target of Western sanctions as
yet, some shippers and auto-parts suppliers are steering clear
of Russian goods, putting more pressure on carmakers already
reeling from a chip shortage and higher energy prices.
Escalated by housing, food, and gas prices, the U.S. consumer
inflation saw its steepest spike in the last four decades,
likely cementing the case for an interest rate hike by the
Federal Reserve.
Tesla's shares, which closed 5% lower at $795.35 on Friday, have
lost about 25% year-to-date.
The electric-car maker last week raised prices of its U.S. Model
Y SUVs and Model 3 Long Range sedans by $1,000 each and some
China-made Model 3 and Model Y vehicles by 10,000 yuan
($1,582.40).
U.S. electric vehicle maker Rivian Automotive Inc said last week
supply-chain issues could cut its planned production in half,
citing soaring raw material prices and supply chain constraints.
Japan's Toyota Motor Corp said it would scale back domestic
production by up to 20% for April-June to ease the strain on
suppliers struggling with shortages of chips and other parts.
Tesla and SpaceX did not immediately respond to Reuters'
requests for comment late on Sunday.
(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by
Rashmi Aich and Sherry Jacob-Phillips)
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