Elon Musk Says Tesla, SpaceX Face Significant Inflation Risks

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Tech billionaire Elon Musk has said that his electric car manufacturing firm Tesla and rocket company SpaceX are facing significant inflationary pressures in raw materials as well as logistics

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Tesla and SpaceX are seeing significant recent inflation pressure in raw materials and logistics," Musk said in a tweet

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He, however, said his companies “are not alone", as the Ukraine-Russia conflict sent commodity prices to their highest levels since 2008

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Rising nickel prices, owing to the Russian invasion of Ukraine, have thrown a spanner in Musk and other automakers’ dream of introducing affordable electric cars soon.

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Reports said that the rising raw materials costs have hampered Musk and other automakers’ plans to introduce more affordable electric vehicles (EVs).

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Nickel has long been widely used in batteries, most commonly in nickel-cadmium and in the longer-lasting nickel-metal hydride rechargeable batteries,

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