The shortage of raw materials has put strong pressure on many companies worldwide. Tesla and SpaceX are no exception here. The CEO of the tech companies, Elon Musk, said on Twitter that Tesla and SpaceX were facing significant inflation risks due to rapidly increasing commodity prices. Thus, at the moment, his electric car manufacturer and the rocket company are seeing significant inflationary pressure in raw materials and logistics. The tech billionaire, however, said that his companies were not alone as this was the problem for many businesses worldwide. To prove this, he retweeted an article by the Financial Times saying the Ukraine-Russia conflict sent commodity prices to their highest levels since 2008. Elon Musk also asked his followers to speculate on what the inflation rate will be over the next few years. Earlier, the entrepreneur urged the US to increase the production of crude materials. “Hate to say it, but we need to increase oil & gas output immediately. Extraordinary times demand extraordinary measures,” he tweeted. Musk also admitted that this step would definitely affect Tesla, but “sustainable energy solutions simply cannot react instantaneously to make up for Russian oil & gas exports.”
