Elon Musk offloaded $6.9 billion worth of stock in Tesla Inc. to accumulate cash ahead of a trial that could force the billionaire to follow through on an agreement to acquire Twitter Inc.

Tesla Inc. has increased prices across its lineup by as much as $6,000, Electrek reported, as global automakers grapple with surging costs for raw materials, particularly battery components.

Polestar, the electric carmaker controlled by Volvo Car AB and its owner Zhejiang Geely Holding Group Co., has raised $550 million from new investors to help fund its growth.