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Tesla ups China, U.S. prices for 2nd time in week

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STORY: Tesla has raised prices in China and the U.S. for the second time in a week.

The move comes after founder Elon Musk said the electric car maker faced significant inflation pressure.

Now Tesla has raised prices for all its models in the U.S.

In China it lifted prices for some locally made models by about 5%.

That follows a previous increase last week.

In earlier Tweets, Musk said Tesla and his rocket company Space X faced inflation pressure in raw materials and logistics.

The conflict in Ukraine has made matters worse, driving a fresh surge in costs for some key products.

Now it all threatens to complicate plans by Tesla and rivals to roll out more affordable electric cars.

Industry experts say rising costs for nickel, lithium and other vital raw materials will make it harder to keep reducing the price of vehicle batteries.

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