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Tesla to charge more for cars in US, as Musk files appeal over Twitter posts

 Tesla Inc again raised prices for all its car models in the United States in response to persistent global supply-chain problems and soaring raw material costs.

The electric carmaker increased its Model Y long-range price to $65,990 from $62,990, its website showed on Thursday (June 16), after delaying U.S. deliveries of some long-range models by up to a month.

The 5% price hike comes as costs of raw materials for aluminum to lithium used in cars and batteries surge, while automakers struggle to source chips and other supplies due to an industry-wide shortage.

Tesla Chief Executive Elon Musk has previously said that lithium is responsible for cost increases and “a limiting factor” to EV growth, encouraging carmakers to get into the lithium business.

Musk, the world’s richest person, has warned about the risk of a recession in recent weeks. He said earlier this month he had a “super bad feeling” about the economy and that Tesla needed to cut 10% of jobs.

On Wednesday (June 15), Musk appealed a judge’s refusal to end his 2018 agreement with the U.S. Securities and Exchange Commission requiring a Tesla Inc lawyer to vet some of his posts on Twitter.

Musk argued that the decree and subpoena undermined his constitutional right to free speech, and accused the SEC of trying to launch “endless, boundless investigations of his speech.”

Musk agreed to let a Tesla lawyer screen tweets that might contain material information about the company. He and Tesla each also paid $20 million in civil fines, and Musk gave up his role as Tesla chairman.

Musk, the world’s richest person according to Forbes magazine, is trying to buy Twitter Inc for $44 billion.

(Production: Omar Younis)

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