so are those higher ev costs here to stay?speaking with the executive editor of benchmark mineral intelligence. henry sanderson, thanks for your time. henry, i want to start with the critics of electric vehicles who talk about the huge cost, notjust in dollar terms, but in the cost to the planet in creating these batteries. so the question is — do evs actually add up to benefit the planet in the long—term? yes, they definitely do. if you look at an electric vehicle, number one, you don't have the air pollution issues that you have with internal combustion engines. and air pollution causes millions of deaths all around the world every year. in addition, charging an electric vehicle from renewable energy is much betterfor the planet than internal combustion engine. as the world moves more towards renewable energy sources and away from fossil fuels, evs will become more and more clean and better for the environment in the long run. we hear all the mining that is needed to extract all the minerals. it's enormous and how do we cut

companies going into the ev space. we just heard from show me -- from xaomi and update on the recently launched su7. huawei also has its fingers in the ev space. they are not a brand of huawei cars, but they have partnerships with chinese automakers, and they are very much part of the ev space here at the auto show. haslinda: china displaying its strengths. our chief north asia correspondent at the beijing auto show for the first time since 2020. plenty more to come. keep it here with us. this is bloomberg. ♪ orry yois spent on golf? nah. sinking putts? the only thing sinking is my savings... there's the kid's braces and my parents to care for. i'm gonna caddy forever. with empower, i get all my financial questions answered, so i don't have to worry. empower. what's next. thanks to avalara, we can calculate sales tax automatically. avalarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it conn

, we have about 25, 30% less ev buyers. that is a big wake-up call for the industry. >> shoppers are saying that batteries need to last longer with a reliable charging network. >> how long are you going to wait to be able to charge your car? >> you don't really have a lot of choice. the infrastructure is not very good. >> we have been here for like 20 minutes so far. it says 43 more minutes. >> two more years at least. >> while demand is down for ev's, plug-in hybrid sales are up more than 50% with some of those vehicles qualifying for those coveted tax credits. >>> we will take a closer look at the frustration over not enough ev charging stations. remember that range anxiety folks talk about? and, what california is doing to bridge that gap. >>> a finance professor helps us break down what te >>> today, we are breaking down tesla's recent troubles and what they mean to the bay area workforce overall and the electric vehicle market. joining me now live is julian vogel, an assistant best refinance at san jose state universit

that is the pivot to evs and hybrids. they are hot evs, the mustang, the suv. 20,000 evs.tuart: that is it. chow mein foods. lauren: 3% in the quarter as prices rose and you have bird flew, 1.5 million laying hens just in texas. stuart: bird flew helps the price of eggs go up, got it. lauren: they are up 9% after raising full-year earnings, demand for jewelry. stuart: next case. florida governor desantis demanding answers of the biden administration to include 300,000 migrants into florida. the white house has no control of where marriott migrants decide to fly. matt finn has the story on that next. the new dexcom g7 sends your glucose numbers to your phone and watch, so you can always see where you're heading, without fingersticks. dexcom g7 is the most accurate cgm. so, you can manage your diabetes with confidence. ♪ ♪ her uncle's unhappy. i'm sensing an underlying issue. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit... unruly. you called yourself the “un-c

speaking of affordable ev's, can tesla - of affordable ev's, can tesla retain its premium ev? retain its premium ev? in the china market which _ retain its premium ev? in the china market which is - retain its premium ev? in the china market which is very - china market which is very important to do is look, it does face that stiff competition, it's a flooded, flooded market with tvs there, but in the united states it still has a stronghold because those chinese cars for the time being at least are being held out of the market, they are being blocked from entering. it does have this stronghold in the us where it can still rely on sales and profits. the caveat there is that ev sales in the united states are starting to slow down, sales growth is starting to slow down so we're not seeing the penetration at the fast rates that we used to be, so there is a tempering of demand in the us market at the same time. moving on to the us congress where a bill to potentially ban tiktok has cleared a key senate vote. the legislaton would ban the popular social media platform if its chinese

it dragged ev stocks lower.y -- dragging tesla suppliers lower as well. 386,810 deliveries. the market was expecting between 400 and 420,000. even that was a reduced estimate. so tesla massively under suiting expectations there. the biggest sales mess ever. our next guest says while he remains bullish on tesla's long-term story, this was a train wreck into a brick wall. let's bring in dan ives, senior equity analyst pigot tell us what you think. what is the strategy for test like -- tesla going forward now? how is this going to pan out? >> look, that's been the problem. it's been an epic disaster. not just in terms of delivery number about the strategy. are you going to cut prices or margins? investors are feeling blindfolded. they are playing darts blindfolded. no one was expecting a good quarter. this was a friday the 13th nightmare. that's what this was. paul: ok. elon musk warned us that this was going to happen. he was talking up supply challenges and said previously that tesla is in between two major growt

. —— evs.the market almost feels saturated and the economy not doing so well so in terms of sales of those ev�*s, what kind of numbers are we seeing? the ev share of the market is for passenger vehicles 35%. more than every three individually owned vehicles that are purchased right now in china are electric vehicles. that is coming in a market that is not growing, the market overall has been negative since 2017. in terms of domestic sales. so for every ev that sold, its at least one fewer gasoline powered vehicles so it's basically cannibalising the gasoline powered segment which is creating a bit of a structural problem for china with far too many factories configured to build the wrong types of products. as you mentioned, china has been accused of producing way too many cars, we seen factories cutting production or even closing, so will that continue? china is guilty of obsoleting its own manufacturing industry when it comes to gasoline powered vehicles being less popular now. by eroding, by

some teslas and -- >> and there's my 2002 rav4 ev. >> reporter: yup, you heard that right, a 2002 ev. so he's had some skin in the ev game longer than most people. >> well, i'm kind of an environmental nut, i guess. >> reporter: between more californians switching to evs by the week and car manufacturers releasing more ev options, things are changing substantially. >> these are increasing demand for charging and the supply has to match that. right now they're behind. i think there's a shortage of chargers. >> reporter: he was thrilled when he heard about a public/private partnership development that would pump up the ev charging infrastructure. >> it's a good thing. it's about time. >> reporter: tesla is opening its fast chargers to nontesla vehicles. governor newsom pulled up to one in a ford ev to explain more about it. >> this is an effort to build out the infrastructure in the state of california that currently totals 105,000 electric vehicle chargers for public use and about 10,000 of these super charging stations. >> reporter: california natural resources secretary wade crowfoot

right now ev sales are not falling off the cliff yet.ti: talk to us about the sustainability story when it comes to things like input, for example, is the cleaner ev story accurate? i asked that because you hear so much narratives about the technology, that it is cleaner now but longer-term lithium batteries, etc. may not be as sustainable as it seems. >> actually it is quite the reverse. ev's are already much cleaner than petrol and diesel cars. the debate around the lifecycles of sustainability of electric cars stems from the fact that in the manufacturing phase, ev's are emission intensive. that is down to the battery manufacturing process preyed once on the road, those cars are much cleaner. >> that is down to the use of emissions that cars are associated with. if you buy an electric car today, drive it, the lifecycle co2 emissions are up to 71% lower. the good news is, it is said to get even better than that. as grids get greener and renewable energy generation increases, electric vehicles are becoming cleaner. kriti: something we w

and i think tim, you were talking about just, you know, this ev and the ev picture. just to frame that, that's a $2.5 trillion market, the auto market on a yearly basis, eventually, it's going toe go . i think it's going to come faster, though this is such an ugly day on the delivery numbers. and the reason i believe one of the biggest factors in this horrible number was that there was so much excitement around evs, people who buy a car every five years probably moved it forward, bought it three years, pulled a lot of demand in. i think eventually that just starts -- i'm guilty of being too optimistic, but i think they get to the other side. and dan, you talked about fsd, i agree that is an important piece here. if anybody's tried fsd, the beta they just put out last week, it is a step function better than what they've ever done, so i think that is going to come probably in the next year or go two, and i believe that's going to be another catalyst, so, that's where i'm at. >> what can they tell us, if anything, in the next quarter or two, that can sort of -- i don't

there needs to be more education around ev's, around incentives, the value of an ev.hat is it like to drive in ev? the total cost of operation as well. we have a lot of work ahead. in january, whatever key messages was for ev, it will be a year or more. we will see more bumps. we will see more incentives, more price cuts, but also the industry build more sales muscle and sell these ev's to the next wave of adoption. caroline: more transparency please. stephanie valdez streaty, thank you so much. coming up, erika klauer will be joining us. we will deep dive on what's happening in the broader markets today with the big chip selloff. ed: you mentioned xiomi. by close of play on friday having unveiled this new ev, they had 89,000 orders. 90,000. i'm sure it is bigger now. really curiously there's a lot of evidence that in the chinese market consumers were putting down the refundable deposit and then canceling just for the prestige of saying i ordered a xiami and then did not follow through with it. this is bloomberg technology. ♪ so, what are you thinking? i'm thinking...

>> when it comes to ev sales they are reaching record highs. more affordable than ever because of the work this administration has done. last year ev sales surpassed one million for the first time ever. that's a 50% increase under president biden, ev sales have quadrupled. >> is it realistic to go from 7% to 8% of sales to 50% of sales if the automakers themselves are cutting back on production? >> us manufacturing jobs have increased, jobs have increased and when you see a boom like this you need autoworkers. it can't happen on its own. maria: i don't know what she's talking about with record sales of evs, nobody is buying them. your reaction? >> the biden administration has to learn something about supply and demand and right now demand for evs is declining, it's falling and here we have a great example of the dangers you run into when you have the government trying to control the economy, trying to tell consumers or businesses what to buy, what to produce. it's not working, this is the wrong way to go. i would not be surprised if billions an

makers is a bright spot for the ev industry is global sales drop. bloomberg is reporting that the ford commercial unit is expected to become the most profitable segment this year. nvidia is recovering moderately after huge drop after they lost market value and a percent drop friday. the rebound comes as we await tech earnings from multiple magnificent seven stocks. about 180 s&p 500 companies represent 40% of the market cap will report earnings results this week. the latest survey shows many on wall street are confident this will in reinvigorate the s&p 500 after struggles for a month-long. we have the details. will this earnings season really save the s&p 500 and investors in big tech from the route we saw last week, the worst since 2022? >> so far it seems yes and the attention will shift away from interest rates in the past several weeks to corporate earnings. the overwhelming consensus on wall street is that economic strengthen strong corporate earnings are a way to underpin this rally with herb without a fed rate cut. investors recalibrate thei

i think the first thing that potential ev drivers and shoppers should know is that evs are essentiallyccounts on wheels. you're going to save over $1,000 a year on fuel, and with gas prices rising right now, that savings is going to be magnified, especially in california, where gas is over five and in some cases $7 per gallon. right now, it's really spiking up huge savings there. you're also going to be saving the planet, you're going to reduce your climate impact just from driving by up to 80, again, because of how clean the vehicle and the grid is. that's for many drivers, that's like 25% of your carbon footprint. so if you think about things that you can set and forget this earth day and every day after switching to an ev is one of the best things an individual household can do, for the planet and for their pocketbook. and that's that's really why we founded ev life, so in terms of considerations, you know, you obviously want to think about getting the best rate, whether you're, you're financing or leasing, there is a lot of discounts on the market just in general for new evs. and,

randel posts a beat with ev's making up 48% of s

you need ev's to come along. you need him to be correct on robo. let's also stipulate he has never met his deadlines. he is directionally correct but not on time. ed: laffler tengler --nancy tengler, ceo of laffler tengler, could not think of a better person is be to. the impact on competition. this is bloomberg. ♪ awkward question... is there going to be anything left... —left over? —yeah. oh, absolutely. (inner monologue) my kids don't know what they want. you know who knows what she wants? me! i want a massage, in amalfi, from someone named giancarlo. and i didn't live in that shoebox for years. not just— with empower, we get all of our financial questions answered. so you don't have to worry. i guess i'll get the caviar... just kidding. join 18 million americans and take control of your financial future with a real time dashboard and real live conversations. empower. what's next. how am i going to find a doctor when i'm hallucinating? what about zocdoc? so many options. yeah, and dr. xichun even takes your sketchy insurance. xi-chun, xi-chun, x

but back to gallup's evs.n just one year the percentage of people who might consider buying an ev has dropped from 43% to 35%. the percentage of people who are seriously considering buying an ev has dropped from 12% to 9%. and those who may never buy an ev has gone up from 41% to 48%. these are staggering numbers. and car salesman joe biden is out there selling these lemons. know what? biden's evs are the modern-day ed self our time. ford brought the car out in 1957, it promptly became one of the biggest failures in automotive history. three years later they had to bury it. so i'm going to bet at some point in the presidential campaign mr. biden buries talking about evs. well give that a maybe. meanwhile obama advisor david axelrod has told biden to drop "bidenomics" completely and instead adopt more of a clintonite message, i feel your pain and we're working harder to do better. that is not what biden is doing. instead he is blaming donald trump for everything that's gone wrong, inflation in particular which

speaking of affordable ev�*s, can tesla retain its premium ev? stiff competition from rivals but even smartphone makers. in the china market which is very important to do is look, it does face that stiff competition, it's a flooded, flooded market with evs there, but in the united states it still has a stronghold because those chinese cars for the time being at least are being held out of the market, they are being blocked from entering. it does have this stronghold in the us where it can still rely on sales and profits. the caveat there is that ev sales in the united states are starting to slow down, sales growth is starting to slow down so we're not seeing the penetration at the fast rates that we used to be, so there is a tempering of demand in the us market at the same time. from bollywood stars to business leaders, a flurry of deep fake videos seem to have hit many high profile indians in the past few days. some of them are also political in nature, with elections underway in the world's most populous country. from mumbai here's our india bu

look at the growth in hybrids and in evs. up 42% and 86% respectively, and when you look at the ev market, ford is now into the third position after tesla, which still dominates with more than 50% market share. there you see hyundai/kia. genesis would be in there, as well. and then you see ford. and that is a testament to the decision that was made in february to slash prices on the mustang mach-e. we'll find out what the impact is in terms of how much more it weighs on the bottom line. the greater the losses we might expect within the ev division in a couple of weeks when they report their earnings, but the bottom line is this -- consumers responded. and the mustang mach-e, the third or fourth best-selling ev in the quarter for all, for the entire industry. and that's a testament, again, to the demand that is out there, when you slash prices and put it at a price point where people are saying, yeah, i'm interested in this. quickly take a look at shares of ford, hyundai, tesla. you can see what kind of quarter it's been. tesl

byd now has 33% of the ev market here in china. their models are priced at $11,000 were below. how do the europeans and americans and japanese compete in that space? third theme, exports. all of these brands have big export ambitions, including the stall we are out here, great wall motor. they have been exporting a number of cars and suv's abroad. but again, we are against the backdrop of rising protectionism around the world, with europeans and the americans talking about overcapacity and potential anti-dumping subsidies. it's a big theme, it's a very, very sensitive issue here. getting people to talk about it in earnest is going to be a challenge obviously, because that is the biggest export challenge for these automakers. finally, the big theme on technology is smart you ev's. we've already seen the launch of its new su-7. we have companies here moving to the smart ev space. huawei also has about four different partnerships, so there are huawei-backed partnerships as well making noise. so, a lot to talk about over the next coupl

but are they meeting demand, evs?hen you talk about supply and demand, there is an oversupply because demand is dropping so fast. you have support waning for them, again, because of the range anxiety, because of the heavy subsidation. it's really become a third vehicle or a really fancy tech golf cart, if you will, for a lot of consumers. it's still over 80% of consumers are wealthy individual owners, and americans are subsidizing their fancy tech vehicles for them to buy, and it's the just unfortunate that the support is waning for them. but people want practicality, and they're just not practical for most consumers. will: that's fascinating. 80% of the ev market is wealthy individuals. all right. interesting stuff. not good for anybody hoping to sell a used ev. jason, thanks for being with us this morning. enter thanks for having me on, will. appreciate it. good to see you. will: you too. carley: harvey wipe sign in the hospital after his 2020 rape conviction in new york was vacated. s that is according to his lawye

we looked into buying a used ev, and with hertz recently putting thousands of their evs on the market, prices are coming down. experts also note many cash incentives are still available. whether your income qualified or not. every single californian and pge territory qualifies for a $1,000 rebate on a used ev, no matter which vehicle and no matter what your income is. the state survey also shows that most ev owners charge at home, and that's a problem for many apartment renters. well, it is almost may and that means the end for the ski season up in tahoe. most of the resorts closed for the season yesterday, including mount rose, kirkwood, sugar bowl and northstar. however, you can still get in those last runs. palisades tahoe is planning to stay open through memorial day, weather permitting. okay, so i guess we're all going skiing. oh my in the next couple of weeks. what a year. it's effort here is here now. how you doing, jim? we're doing good. that's now our third year in a row of really strong rain and also snowpack coming in. so it's just such a nice turn after all of the drought

must leave the world toward a ev revolution. is the biden administration using faulty math to justify that push? bjorn blomberg and fellow flynn on that coming up with caplyta, there's a chance to let in the lyte™. caplyta is proven to deliver significant relief across bipolar depression. unlike some medicines that only treat bipolar i, caplyta treats both bipolar i and ii depression. and in clinical trials, movement disorders and weight gain were not common. call your doctor about sudden mood changes, behaviors, or suicidal thoughts. antidepressants may increase these risks in young adults. elderly dementia patients have increased risk of death or stroke. report fever, confusion, stiff or uncontrollable muscle movements which may be life threatening or permanent. these aren't all the serious side effects. caplyta can help you let in the lyte™. ask your doctor about caplyta. find savings and support at caplyta.com cordless outdoor power, brings you the ego power+ string trimmer with powerload technology. feed the line, push the

that right, a 2002 ev. so jerry's has some skin in the ev game for longer than most people. >> well, i'm kind of an environmental it in i guess. >> reporter: between more californians switching to evs by the week and car manufacturers releasing more ev options, jerry says the infrastructure needs are changing substantially. >> all these things are kind of increasing the demand for charging so the supply has to rise to match that. and right now, they're actually behind. i think there's -- there's a shortage of chargers. >> reporter: which is why he was thrilled when he heard about a public-private partnership development that will pump up the ev charging infrastructure. >> it's a good thing. and you know, it's about time. >> reporter: tesla is opening it fast chargers to nontesla vehicles. governor newsom pulled up to one in a ford ev to explain more about it. >> this is all in an effort to build out the infrastructure in the state of california. that currently totals 105,000 electric vehicle chargers for pu

ev's are more than ever.sident biden ev sales have more than quadrupled, sales are at record high of 18%. president has always had lower prices, it's part about and everything we can to deal with climate crisis. >> the goal is for lower cost but a new analysis by biden zba says the cost of implement biden's climate rules, regulations can cost taxpayers nearly a trillion dollars, a price take meanwhile court reporting foxbusiness 4.7 billion foster protective cost 5 billion, 5.5 billion this year so a lot of money at stake. >> they can brag how they want and you talk about the losses ford incurred and ev's americans can't afford. these what americans simply don't want because they don't think there liable. i am go ev if they want that, if it works for them the car to do around town and buildup of infrastructure where people make it work, great but they shouldn't have to mandate and coerce their way into more sales. the product should sell itself. >> the chamber of commerce launched regulations out there pushin

the reality is the automotive sector is moving towards evs and the u.s. can fall behind to china or we can claim the lead. president biden wants to make sure those to be are made in america especially again as more americans choose evs every single year then the year before. we have to make sure those are made on american soil in places like northern indiana where i grew up, places like michigan where i live right now. during the trump administration china was really able to build an advantage in the ev market and not because they are big environmentalists in china, it's because it's the economically smart to play. we want to make sure that advantage comes back on american soil. >> sandra: mr. secretary it's a sander we appreciate you coming on the show. when you look at the market here in those who have watched markets most of their lives like many of us we think why are we pushing something that is not ready? as you read his pieces in "the wall street journal" often, he is not a climate change denier but he points out this is just a market that is not r

during the quarter. —— evs.united states and britain have announced a new partnership on the science of artificial intelligence safety, amid growing concerns about upcoming next—generation versions. commerce secretary gina raimondo and british technology secretary michelle donelan signed a memorandum of understanding in washington to jointly develop advanced ai model testing, following commitments announced at an ai safety summit in bletchley park in november. here to explain more is tim davies, ceo of ai consultancy, projekt rising. what are the safety concerns? how these models could perform in the future, the development of a new form of intelligence and with any new intelligence there are risks. these safety tests evaluate whether the models are safe and will perform reliably in the functions they are deemed to work in. these tests are working jointly with the us and the uk to line and make sure there is commonality in the testing approach. next—generation versions, many people are onlyjust catching up with

what is the outlook for the european ev makers given the tension?it is clear that the competition to chinese carmakers will increase. china is now going into the electric car production and increasing exports to europe. that is what we see. the numbers of chinese brands on european streets is still low. it will increase. this holds true, especially for the volume car segment. before, china had advantages in terms of costs. they have better access to raw materials and factory production. they have economies of scale. this is the advantage they will not lose in the next few years. this is a challenge for the european carmakers. still, free trade would benefit the progress of the technology. it is very complicated. if you argue that china is acting with non-wto conformance, it is clear that the european commission has to do something against it. it's still the ongoing investigation. at the end of the day, consumers in europe would benefit from imports from china because prices have to come down if we want to have a higher increase or market share for e

let's talk about china's evs which are, i think, they have the largest ev manufacturing company in the world. surpassing sales by tesla. how long can the west and the united states, in particular, stiff arm these automobiles from coming into domestic markets? >> that is a key question. when we look at sarah's interview with the secretary, which, really fantastic reporting on this trip, but secretary yellen said we don't stop chinese product from coming into the u.s. there is a 25% tariff on those but if you want to sell them to the market, you can. but i think when we look at the technological advancement of these vehicles and the cost of these vehicles, at some point, the question becomes when will american consumers start to demand other, cheaper options if we really want to transition. i think our policy will remain in place for quite some time but this really falls on the back of consumers and in this area, voters, as to whether or not they want to see some greater, cheaper options in the market. >> right, but even like a g lee which owns volvo, you could argue they are making more

. >> reporter: jericka, ev enthusiasm is fading. slumping sales and production deays make it clear that it's not quite full speed ahead to america's all-electric future. electric vehicle sales in the u.s. are sluggish. many shoppers say they want lower prices, batteries that last longer, and a reliable charging network. >> how long are you going to wait to be able to charge your car? >> i mean, to be honest with you, you don't really have a lot of choice. the infrastructure's not very good. >> reporter: nationwide, ev sales are down 7% so far this year, causing ford to delay production of the next generation electric f-150 and a three-row suv. gm scaled down its 2024 ev sales projections by as much as half. >> what does this mean for the industry over the next five years? >> i'd say over the next five to seven years we probably now have about 25%, 30% less potential ev buyers. and it's a big wake-up call for the industry. >> reporter: production problems caused tesla sales and stock to fall. reuters reported that the company cancele

we are on the eve of al-quds day. on the eve of al-quds day, the people of gaza asked the people of iran, as well as all the freedom-seekers and free people of the world, to condemn the crimes of the zionist regime and the occupying al-quds regime by participating in the march on the last friday of the holy month of ramadan. in the news, you have seen and heard anti-regime demonstrations in many countries of the world on the eve of the international quds day zionist held, countries like england, germany , russia, bahrain were among the countries that used slogans condemning the crimes of sardad's zionist regime. in a special news interview tonight, we want to talk to you about the globalization of the palestinian issue and the issue of gaza. we have two guests in the studio, mr. the senior expert in political issues, along with mr. hossein kanani moghadam, one of the other experts in the field of political issues, mr. borjadi , i greet you. welcome, salam alaikum. dream of we accept the theater and honor the memory of

1.4 million evs over the last three years.rict china's access to its auto industry, with some calling for tariffs on chinese evs. as india goes into election mode — its economy is very much in focus. incumbent prime minister narendra modi is riding on the plank of massive infrastructure development — roads, highways and metro lines are being built at a pace some say is reminiscent of china s heyday. the bbc�*s nikhil inamdar sent this report from eastern indian city of kolkata. kolkata, a city of rusty trams and traffic jams. crossing this stretch across the mighty holy river usually takes up to 30 minutes. but a shiny new underwater metro line hasjust come into operation. significantly reducing travel time. so this is india's first underwater metro line and we've just plunged about 100 feet under the river that connects calcutta with the twin cities of howrah. on the other bank, this isjust one example of the ambitious upgrade that many of india's creaky public infrastructure assets are finally getting. a swanky bullet train

>> we have to step back and realize the ev growth in the last five years.it is five steps forward and one step back. global demand. a lot of people are reluctant to make the leap. as w we move forward, you will e the demand. there is a story in china that you are seeing a pullback in ev demand, but this is more than just a car company selling electric vehicles. this is a technology company. this is an a.i. company. when you think of elon musk and the abilities he has in all of his companies, if he gets focus in the tesla, you will see this name go back and revisit that $300 level. that is the 52-week high up at $299. >> the top play and number one draft pick, jeff. let's take you through the under the radar bloomer that happens in the second quarter and beyond. >> this is an under the radar name. semiconductor is not under the radar. mi micron. we just rewind pre-earnings. you put on an cnbc pro article talking about the untapped value. you saw this name like every tech name in 2022 get cut in half. a great 2023. it is on fire right now. as long as they are

elon musk elonhoped to revisit e idea of the affordable ev. he is not the only one more in a few minutes. with gold and copper prices pushing towards all-time highs, u.s. gold corp is advancing its environmentally friendly gold and copper mining project and creating american jobs in mining friendly wyoming. with a proven management team and board, a tight share structure, and a solid cash balance, u.s. gold's portfolio of world-class assets are creating american growth and homegrown strategic metals as the us moves towards an electrified future. u.s. gold corp. >>> welcome back to "worldwide exchange." some automakers are backing out on the evs those in china are looking for a race to the bottom our eunice yoon is live from the beijing auto show. it looks like you are having a good time, eunice. >> reporter: i am, frank tesla is not at this show, but like elon musk, his chinese rivals are stressing the importance of affordable evs i spoke with the founder of nio. it will target more conscious budget families. it will be launched in the third q

we just had a big miss for tokyo cpi on the eve of the bank of japan meeting. we heard some more currency talk from the finance minister about supporting the yen. blowout results for some u.s. tech stocks. concerning data out of the u.s. as well. how is the market going to balance out of this? avril: there's a lot to digest. thinking about how the stagflation chatter is coming back to the four in the u.s. and how this yen depreciation will figure into the conversation for boj policymakers? we are waiting with bated breath whether this forces the japanese central bank to come through with hawkish signals. we do have the open in japan now and now the big tech tailwind for stocks. a little bit of upside on the nikkei at the start of trade. we are still seeing dollar yen hovering at 155.6. of course it's about whether we get any indication about curtailing of bond purchases from the japanese central bank. seems like the bond markets are betting we do coming on the japanese 10 year government bonds. let's take a look at what we are seeing in south korea. yesterday w

on the eve of labor day, and this is already a good tradition.he updated republican honor board was solemnly opened in minsk today. based on the results of work last year, 64 winners from regions and organizations. industry, construction, rural forestry and, of course, the sphere. thus , the state emphasizes the significant contribution of citizens and labor collectives to the development of the country. our correspondent anton malyuta met the recognized leaders. here they know exactly what the essence of effective work is: improve technology and reduce costs. the production volumes of belarusian white gold today exceed domestic needs by several times. only a fifth remains in the country . and nine out of ten export wagons are sent to russia. this is not the limit, we are ready to take more. the markets are well known. and we have decent authority there, so our products are sold, we do not experience any problems with sales today. there is something to be proud of today for everyone who came to the center of the capital on the eve of labor day. t

this is going to lower the ev cost by 40% by 2027 and try to make the evs more affordable.hey are launching more cheaper models. it will cost 25,000 euro and try to make this more affordable. you remember at the end of last year, they canned the ipo of the ev unit. they have enough funds to do all of the changes in that part. they sold part of the stake of nissan to give them extra firepower with investment for renault. the numbers are better than expected. shares are bit in the green and in the red ahead of the tesla numbers that come out later today. the performance is up 40% in the last 12 months. >> charlotte, thank you. >>> turning attention to tesla. th hitting the lowest level since january of last year. this stock is down 40% for the year and tesla losing more than $300 billion of market cap since the end of 2023. this ahead of what the wall street expects to be a dismal first quarter. net income is seen down on the year, but expected to sink 40%. you see it right there in the middle. that is on the back of what lseg estimates the first revenue decline since the ons

on the earnings call the ceo says they see positive profit from ev sales cut the projection of evs soldhat the company originally projected. the boosted earnings came from strength of gas powered trucks and cutting costs on the ev side scaling back. what do you think this shows? >> consumers have a vote in this snow matter what washington dc's or second mental says. it's up to the consumers to make sure it meets their needs and there are drawbacks with evs in terms of cost and convenience. you are seeing customers flocking to suvs and pickup trucks. edward: with government incentives how long can companies continue to do this when voting is going gas powered or hybrid? >> they have been doing subsidies for years, the biggest is the fuel economy that make it necessary when you sell one of those pickup trucks you purchase credits from someone who sold and ev, mostly chesler. you see the market, folks in the middle of the country paying more for those vehicles and some money going to the coast to make evs cheaper but customers are saying it doesn't work for me in this circumstance. edward:

experts say tesla as well as other ev makers need to do more to revive customer interest.try has to make evs interesting to mainstream consumers, and that's been a challenge to them. i think also tesla is facing — facing issues in the fact that competitors are catching up, they're getting better. you know, i'm a tesla owner. i've had a tesla for 12 years. and, you know, for the first five or six years, there were really no legitimate competitors. but now there are. and i think, so, you know, the customers are looking — starting to look elsewhere. the leaders of the world's two biggest economiesjoe biden and xijinping spoke on the phone on tuesday in the first engagement between them since they met in san francisco in november. this comes as the us treasury secretary embarks on her second trip to china in less than a year. 0ur north america business correspondent erin delmore has the details. the phone call marked the first one—on—one communication betweenjoe one—on—one communication between joe biden one—on—one communication betweenjoe biden and xijinping since november. t

smallest ev.s coming out i think that's going to be formidable kempcompetition for consumer. >> more concerned about the idea even, the ev adoption is not staying at pace? right? i mean, that's the -- the sort of bigger overhang of the whole situation. are people going to hybrids? going to stick with combustion engines? what's really happening here >> like we awe knew the first quarter was happened what happens first quarter most manufacturers lost the tax incentive credit now back i think we're going to see different numbers coming out of the rest of the year, because it was a slow first quarter consumers know they wait a few weeks or months -- >> wait get it or just this market doesn't work without government incentives? >> if they -- a little of both make evs affordable. so the government's helping. while the car manufacturers bring prices down and costs down those cost-downs are happening when you have, like a chevy volt, and that's priced in the 20s, you've got a viable car without tax incent

. >>> ev euphoria?> i'm elise preston in los angeles with a look at how declining ev sales are prompting automakers to pump the brakes on production. >>> and later, stargazing. the push to turn off the lights so you can see in the dark. >> it's just really gratifying for somebody to look through a telescope for the first time, and they see the moon, and it's like wow. >> announcer: this is the "cbs evening news" from new york with jericka duncan. >>> good eening and thanks for joining us on this sunday. we begin tonight with the war in gaza. today in israel withdrew most of its ground troops out of the besieged territory. it happened exactly six months to the day that hamas militants launched a surprise attack, killing hundreds of israelis and taking hostages. the human cost on both sides has been devastating. thousands killed in gaza. the territory there now reduced to rubble. cbs's holly williams is in tel aviv tonight with the very latest. holly. >> reporter: it's six months to the day since hamas la

we need evs and solar panels. it has been a big push by the biden administration. >> there will be a growing -- we hope to deal with climate change. the demand will be increasing. there is nothing wrong with investing in the industries and developing in capacity. >> we do it. inflation reduction act. >> we want to make sure we are not driven out of business and firms and workers have opportunities in these industries which will be important for our future. >> if they don't shift, are we looking at potential tariffs on the products? >> well, i wouldn't rule anything out at this point. we need to keep everything on the table. we want to work with the chinese to see if we can find a solution. we are engaging in a four-year review of section 301 tariffs that's not complete. i can't really speak to what will come of it. i would not rule anything out, but i think we need to deal with the issue. >> the tariffs imposed during the trump administration. >> that's right. they raise the issue of the 301 tariffs. they said for

stuart: i follow evs and ev makers and following niyo and sure they're down because barclay doesn't like them. lauren: underwait and street preece of 4. weaker march sales suggest they have trouble selling brand new car. that's putting their estimates for all -- their deliveries for all of 2024 at risk. stuart: yeah, and tesla is down as well. lauren: yeah. stuart: move onto chlororocks, they've been downgraded too. lauren: yeah, 1.6% and had a cyber attack over the summer. big cyber attack and took them a long time to get through. citi downgraded and said they lost sales and with that shelf space at retailers because of it and recovery will be slow. stuart: not in buy stock in clorox or look at indicator of the economy and consumer behavior. that's my personal opinion. >> you're probably right or other etfs out there that might need it to fill up whatever their certain area of expertise is. stuart: glad you're on the show. hawaii wants oil companies to be liable to pay to offset damages caused by climate change. group of republican attorneys general asking the supreme court to intervene