EV Transition: Too Fast, Too Pricey, Too Soon?

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 plug-in 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 plug-in 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.
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