The price of the China-made Tesla Model Y has been increased by more than $2,000.

• On Thursday, Tesla increased the price of its most affordable Model Y car in China by 15,060 yuan ($2,372), after raising the prices of more expensive models by 15,060 yuan and 29,120 yuan ($4,585) in the past week.
• The price of the standard China-made Model Y has increased to 316,900 yuan ($49,932) from 301,840 yuan ($47,559) on Tuesday, as tracked by CNBC.
• Since January, the cheapest Tesla model has maintained its price, but the long-range and performance versions have recently experienced a price increase.

On Thursday, Tesla raised the price of its cheapest Model Y car in China by 15,060 yuan ($2,372), after two consecutive price hikes for more expensive versions in just over a week.

The price of the standard China-made Model Y has increased to 316,900 yuan ($49,932) from 301,840 yuan ($47,559) on Tuesday, according to CNBC data. Although the cheapest model has remained unchanged since January, Tesla recently raised prices for the long-range and performance versions.

Since January, the price of Model Y has increased by 7.7%, with the long-range version experiencing an 8% rise. The cost of the cheapest version has also gone up by 5% after a price hike on Thursday.

The rise in global inflation and the surge in Covid-19 cases in China have led to consecutive price hikes.

Recently, Elon Musk, CEO of both Tesla and SpaceX, stated that both companies are facing inflation challenges in their supply of raw materials and logistics.

Tesla has halted operations at its Shanghai factory for two days due to China's tightening of coronavirus restrictions in an effort to control the recent Covid-19 outbreak, according to Reuters.

Tesla did not promptly react to a CNBC inquiry for a comment on the report or the price hikes.

Strict Covid-19 regulations in major cities like Shenzhen and Shanghai have led to factory shutdowns and increased pressure on already strained supply chains. The shortage of crucial materials such as semiconductors is exacerbating the issue.

Tesla's revenue in China has significantly increased, from 12% in 2019 to 26% in 2021, making the country an increasingly important market for the company.

Tesla and Chinese automaker BYD dominate the fast-growing Chinese electric vehicle market.