Elon Musk attends the opening of Tesla's electric car plant in Gruenheide, Germany, near Berlin, in March 2022. The Model X SUV jumped $6,000 to $120,990 and the Model S sedan now costs $104,990, up $5,000 from $99,000. The company also lost considerably more production at its Shanghai plant than Musk anticipated two months ago and saw auto sales in China temporarily tank. That higher EV price already reflects Tesla’s dominance of that market, says Michelle Krebs, executive analyst for Cox Automotive. Tesla’s price hikes this week were reported first by Electrek, an electric vehicle enthusiast site.

Source: Forbes June 17, 2022 15:38 UTC