Tesla extended delivery dates for some of its models in China last week, and the recent spike in nickel prices has put all EV makers at risk of increased costs.
After extending the expected delivery dates last week, Tesla has raised the prices of several models in China.
Information on Tesla's China website shows that one version of the Model 3, as well as two versions of the Model Y, each saw prices raised by RMB 10,000 ($1,580).
This is the first time the US EV maker has adjusted vehicle prices in China this year, the last time being on December 31 of last year.
The price of the dual-motor, all-wheel-drive Model 3 Performance has been increased by RMB 10,000 to RMB 349,900, while the price of the entry-level, rear-wheel-drive Model 3 remains unchanged.
The price of the dual-motor all-wheel-drive Model Y Long Range and Model Y Performance have been adjusted to RMB 357,900 and RMB 397,900, respectively.
The price of the rear-wheel-drive entry-level Model Y remains unchanged at RMB 301,840.
The expected delivery dates for all of these models remain unchanged from earlier this week.
On March 4, Tesla China's website updated the expected delivery dates for some models. The expected delivery dates for the Model 3 and Model 3 Performance are 16-20 weeks from now, four weeks more than the previous 12-16 weeks.
This means that Chinese consumers who reserve these two models now will not receive deliveries until the end of June at the earliest.
Of the three versions of the Model Y - Model Y, Model Y Long Range and Model Y Performance - the delivery date for the entry-level version has been reduced by two weeks from the previous 12-16 weeks to 10-14 weeks.
The Model Y Long Range's estimated delivery date has increased by four weeks to 16-20 weeks, and the Model Y Performance's estimated delivery time remains at 12-16 weeks.
Tesla's move today appears aimed at moderating demand through price increases, as it still faces production hell.
It is also worth noting that the rising prices of raw materials, including nickel, may also be a factor in its consideration.
The 3-month nickel futures contract on the London Metal Exchange (LME) surged more than 110 percent to $101,365 a ton at one point on Tuesday, with a cumulative two-day gain of 250 percent due to Russian supply disruption concerns.
If nickel prices rise from $20,000 to $50,000 a ton, the raw material cost of nickel for an electric vehicle equipped with a 60 kWh battery pack will increase by about RMB 10,000, said China-based brokerage firm CICC in a research note released Wednesday.
At a nickel price of $50,000 per ton, the cost of a Model 3 with a 76.8 kWh battery pack rises by RMB 10,500, TF Securities said on Wednesday.
At a nickel price of $100,000 per ton, the cost of the Model 3 would rise by nearly RMB 28,000, according to TF Securities.
More From CnEVPost
