Electric vehicle demand in the US is slumping in 2024, causing US automakers to slash prices, introduce more mass market models, lay off workers, and even go into plugin hybrids. Car czar Steve Rattner, whose Willett Advisors manages the personal and philanthropic assets of Michael R. Bloomberg, says that US automakers were trying to avoid the mistake they made with compact vehicles. J.D. Power Vice President of Electric Vehicle Practice Elizabeth Krear says that plugin hybrids could serve as a gateway to EV adoption, and Rep. Haley Stevens of Michigan says that the transition to EVs cannot happen without the role of labor.

More on Bloomberg Television and Markets

Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloomberg Markets & Finance: https://tinyurl.com/ysu5b8a9
Visit http://www.bloomberg.com for business news & analysis, uptotheminute market data, features, profiles and more.

Connect with Bloomberg Television on:
X:   / bloombergtv  
Facebook:   / bloombergtelevision  
Instagram:   / bloombergtv  

Connect with Bloomberg Business on:
X:   / business  
Facebook:   / bloombergbusiness  
Instagram:   / bloombergbusiness  
TikTok: https://www.tiktok.com/@bloombergbusi...
Reddit:   / bloomberg  
LinkedIn:   / bloombergnews  

More from Bloomberg:
Bloomberg Radio:   / bloombergradio  

Bloomberg Surveillance:   / bsurveillance  
Bloomberg Politics:   / bpolitics  
Bloomberg Originals:   / bbgoriginals  

Watch more on YouTube:
Bloomberg Technology:    / @bloombergtechnology  
Bloomberg Originals:    / @business  
Bloomberg Quicktake:    / @bloombergquicktake  
Bloomberg Espanol:    / @bloomberg_espanol  
Bloomberg Podcasts:    / @bloombergpodcasts