Electric car maker Tesla has put up its prices in the US and China for the second time in less than a week – after boss Elon Musk complained of rising costs.

Raw material prices have been surging following Russia’s invasion of Ukraine – including various metals used to make cars and notably nickel, which is a key input for electric car batteries.

It adds to the supply strains facing car makers including Tesla, which have seen production held back in recent months because of a global shortage of semiconductor chips.

Mr Musk tweeted earlier this week that both Tesla and his space rocket business SpaceX had seen “significant recent inflation pressure in raw materials & logistics”.

He added “we are not alone” and retweeted a news article about commodity costs soaring because of the war in Ukraine.

Tesla raised prices on Tuesday for all its models in the United States by 5%-10%, its website showed.

In China, it put up prices of some locally-made Model 3 and Model Y products by about 5%.

Cost of living: Biggest real terms fall in wages since 2014 as inflation bites

Ukraine war: UK bans luxury goods exports to Russia and hikes import tariffs on products – including vodka

Camelot set to lose licence to run National Lottery after three decades

Last week, Tesla raised prices of its US Model Y sports utility vehicles and Model 3 Long Range sedans and some China-made Model 3 and Model Y vehicles.

The higher costs are likely to be taking their toll across the industry at a time when traditional car makers are looking to switch away from combustion engine vehicles towards battery power.

In January, Tesla posted an annual profit of $5.5bn but warned that supply chain problems that have dogged production in recent months would extend into this year.

Related posts:

First guests from high-risk countries check into quarantine hotels Visa to hike fees for UK customers in post-Brexit move Northern Ireland post-Brexit trade arrangements have created ‘a perfect storm’ Naked Wines sinks to annual loss despite lockdown sales surge Ryanair to hire 2,000 pilots as it takes delivery of new fleet of aircraft Train and bus operators will no longer enforce mask wearing in England from 19 July One in five hospitality and retail workers self-isolating, MPs told Purplebricks to set aside millions to cover blunder affecting lettings business landlords All countries on red list to be removed as ‘less effective’ in slowing Omicron Why Lloyd’s could be saying farewell to the iconic HQ designed to bring people together Surging inflation could dwarf other issues in the political landscape as households feel the strain PlayStation maker Sony in shares slump after Microsoft’s Activision Blizzard swoop