Operating costs of Tesla lower than gasoline cruiser: Musk

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SHANGHAI, Jan. 7, 2019 (Xinhua) -- Tesla CEO Elon Musk speaks at the groundbreaking ceremony of Tesla Shanghai Gigafactory in Shanghai, east China, Jan. 7, 2019. U.S. electric carmaker Tesla Inc. on Monday broke ground on its Shanghai factory, becoming the first to benefit from a new policy allowing foreign carmakers to set up wholly-owned subsidiaries in China. The new plant, Tesla's first outside the United States, is located in Lingang Area, a high-end manufacturing park in the southeast harbor of Shanghai. It is designed with an annual capacity of 500,000 electric cars. Tesla signed the agreement with the Shanghai municipal government in July 2018 to build the factory. In October, the company was approved to use an 864,885-square-meter tract of land in Lingang for its Shanghai plant. (Xinhua/Ding Ting/IANS)

Tesla chief Elon Musk on Sunday said that the operating cost of a Tesla vehicle is much lower as compared to a gasoline cruiser.

“The operating costs of a Tesla are also much lower than a gasoline cruiser!” h wrote on Twitter.

Musk, recently, has blamed supply chain price pressure for incremental price increases the company has made to its Model 3 and Model Y vehicles over the past several months.

“Prices increasing due to major supply chain price pressure industry-wide,” he tweeted in response to a complaint about the changes.

“Raw materials especially,” he added.

Musk had previously indicated in April earnings call that Tesla was well placed to weather the global chip shortage by “pivoting extremely quickly to new microcontrollers”.

The Standard Range Plus version of the Model 3 has increased from $36,990 in February to $39,990 in late May, for example, while the Model Y Long Range AWD version has gone from $49,990 to $51,990 over the same period.

Tesla has updated its prices almost half a dozen times since February this year.

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