Tesla’s Troubles and the EV Slowdown: Your Questions Answered

WSJ What’s News

The Wall Street Journal

News, Daily News

4.1 • 4.2K Ratings

🗓️ 21 April 2024

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

Tesla’s stock has fallen by about 40% this year. Last week, the company announced layoffs and a recall of its newest electric vehicle, the Cybertruck, due to a faulty accelerator pedal months after it was released. Other car makers are reporting weakened demand for EVs, and a lot more interest in hybrid cars from American consumers. So, what happened to the high hopes of America’s electric car future? WSJ’s Stephen Wilmot and Mike Colias answer listener questions on what’s going on in the EV market and what it means for consumers, investors and the automakers like General Motors, Ford and Toyota. Annmarie Fertoli hosts. Further Reading The Six Months That Short-Circuited the Electric-Vehicle Revolution Biden’s EPA Gives Automakers More Leeway to Phase Out Gas-Engine Cars Tesla Agrees to Settle Lawsuit Over Autopilot’s Involvement in 2018 Fatal Crash The Inside Tale of Tesla’s Fall to Earth How Electric Vehicles Are Losing Momentum with U.S. Buyers, in Charts Learn more about your ad choices. Visit megaphone.fm/adchoices

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0:09.0	Back by popular demand, Net Suite is extended its one-of-a-kind flexible financing program for a few more weeks.
0:15.8	Head to Netzweed.com. Wall Street. Hey What's News? It's Sunday April 21st.
0:27.0	I'm Anne Marie Fertoli.
0:29.0	And I'm Luke Vargas for the Wall Street Journal,
0:31.0	and this is What's News Sunday, the show where we tackle
0:34.4	the big questions about the biggest stories in the news by reaching out to our colleagues
0:38.6	across the newsroom to help explain what's happening in our world.
0:42.4	This week, we're talking about electric vehicles,
0:45.0	some of the big auto companies behind them like Tesla,
0:48.0	and the future of the market.
0:50.0	The electric vehicle revolution began with high hopes and great promise.
0:55.0	Auto executives foresaw a potential societal shift amid government regulations and climate goals
1:01.0	and rising competition from China.
1:04.0	But the picture has changed recently.
1:06.0	Consumers aren't buying in the way automakers had hoped.
1:09.4	Many have now scaled back their plans, and even the world's most valuable automaker Tesla is seeing signs of trouble.
1:15.8	The company announced it would lay off 10% of its global workforce.
1:19.6	Tesla also lost two longstanding executives, including Drew Baglino, who was in charge of energy
1:25.2	engineering and oversaw initiatives including the EV maker's efforts to manufacture its
1:29.7	own battery cells.
1:31.1	Meanwhile, Tesla's stock has fallen around 40% this year, as the
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