American billionaire and Tesla CEO Elon Musk suffers huge losses due to the Russian invasion of Ukraine
Elon Musk’s business is under threat / Photo: REUTERS
Musk provides Ukraine with equipment for Starlink satellite Internet, and also personally challenges Putin to a duel, but the American has his own interests in the speedy end of the war in Ukraine.
The military action in Ukraine has caused a serious shortage of components for electric vehicles and a record increase in the price of nickel, a key component of batteries. Earlier we wrote that Volkswagen and BMW factories are being shut down in Europe because of the war in Ukraine.
Elon Musk has nothing to build electric cars from / Photo: Getty Images
Musk is currently facing a difficult choice: stop making electric vehicles due to a nickel shortage, or produce cars with a less efficient battery, said Cathy Tamblyn, product director at Achilles.
She believes that the spike in nickel prices will encourage EV manufacturers to lower the quality of their batteries, but it still won’t prevent EV shortages. But there is still a problem with the chips that are produced with the help of Ukraine.
The electric car market is facing a nickel shortage / Photo: REUTERS, Collage: Today
At the moment, only the Tesla 3 can be produced with a non-nickel battery. The rest of the Tesla models are still dependent on nickel. The drop in sales will see Musk lose millions, if not billions of dollars.
Last week, the price of nickel on the London Metal Exchange rose 76 percent to $50,925 a ton from a pre-war $55,000. This is the highest figure in the history of observations, writes express.co.uk.
Source: Segodnya
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