Elon Musk believes that inflation in the US has peaked and will decline rapidly

Tesla CEO Elon Musk attends a groundbreaking ceremony for the Tesla Gigafactory in Shanghai, China on January 7, 2019. REUTERS/Ali Song/File

Tesla CEO Elon Musk believes that inflation has peaked and will decline rapidly in the futureas stated on Thursday during the general meeting of shareholders of the electric vehicle manufacturer, which was held in Austin (USA).

Musk expects it The cost of raw materials and other components for automobile manufacturing will decrease in the next six months.

The controversial South African-born businessman explained that through the process of sourcing materials for Tesla, the company discovered that Prices for more than half of the products needed to make their cars are showing a downward trend the next six months.

Tesla Model 3 cars made in China at a handover ceremony at its factory in Shanghai, China, January 7, 2020.
Tesla Model 3 cars made in China at a handover ceremony at its factory in Shanghai, China, January 7, 2020.

But he also warned that his comments were just speculation and stressed that he expects a Mild recession in the United States which can last 18 months.

The director wants, by 2030, Tesla produces 20 million cars annually thanks to the establishment of more than ten assembly plants around the world Which will be added to the existing assets in Fremont (USA), Austin (USA), Shanghai (China) and Berlin.

In addition, Musk revealed that Tesla will have to Increase the price of your Cybertruck pickup truckwhich is now slated to hit drivers in mid-2023 despite being introduced in 2019.

SpaceX owner and Tesla CEO Elon Musk speaks during a conversation with game designer Todd Howard (not pictured) at the E3 Games Conference in Los Angeles, California, US, on June 13, 2019. REUTERS/Mike Blake/File
SpaceX owner and Tesla CEO Elon Musk speaks during a conversation with game designer Todd Howard (not pictured) at the E3 Games Conference in Los Angeles, California, US, on June 13, 2019. REUTERS/Mike Blake/File

Musk said high inflation is to blame for the truck’s high price, showing a radical and forward-looking determination.

The Cybertruck will be manufactured in the Austin plant. Musk noted that over the next two months, Tesla will begin installing the equipment needed to produce the pickup truck at its assembly plant.

(With information from EFE)

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