International financial system is ‘previous peak inflation’, says Tesla CEO Elon Musk

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Elon Musk stated he sees the worldwide financial system as “previous peak inflation”.

Talking on the electric-automaker’s annual shareholder assembly, Musk stated Tesla’s commodity and part prices are headed for a downward pattern over the following six months. He additionally reiterated that he expects a light recession that would final for 18 months.

“The pattern is down, which suggests we’re previous peak inflation,” Musk stated at Tesla’s Austin headquarters and manufacturing unit. “I believe inflation goes to fall sharply sooner or later sooner or later”, he stated.

“Now we have some perception into the place costs are shifting over time,” Musk stated, citing Tesla’s want to purchase uncooked supplies typically months earlier than they’re used.

“The fascinating factor we’re seeing proper now’s that the majority of our gadgets, many of the issues that go to Tesla — not all, however greater than half — of the costs are happening in six months.”

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