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Tesla Inc. electric car costs to rise in 2022

Tesla Inc. Chief Executive Elon Musk said on Wednesday (April 20) on a first-quarter (Q1) 2022 earnings call that Tesla Inc.’s current sales of electric vehicles (EVs) are underway, CNBC reported. The price reflects the increase in cost growth the company expects when the car is delivered in 6-12 months, the general economic environment and whether the government continues to print large amounts of money is beyond Tesla Inc.'s control. He revealed that some suppliers require parts prices in 2022 to increase by 20-30% compared with last year. Musk pointed out that the reason why Tesla Inc. can keep costs down in the short term is that it has previously signed supply price contracts with suppliers, but in the future, as existing contracts expire, costs may start to rise significantly.
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