in all, gm offers 11 ev models. but while evs make up 7.3% of all new vehicle sales in the u.s., sales growth has slowed. prices are also dropping. the average now $55,000, and more popular in blue states than red. is that a political divide, a cultural divide that will hurt sales, especially of the silverado ev? >> well, when we look at it, right next to the silverado ev in that showroom at that dealer is going to be a silverado that's gas-powered. so the consumer is going to get to choose what they want. >> reporter: but consumers are both price and range sensitive. do you still envision to stop selling gas-powered vehicles by the mid 2030s, as you suggested at one point? >> again, we'll be guided by the customer. in the end, and we're seeing this around the globe, it will be led by what customers want. because, again, a car is a very expensive purchase for people. so they need to get what they want, and what they're willing to pay for and what it represents. >> reporter: the equinox ev has tough competition from

. -- ev race as kia accelerates the electrification strategy. we will get a view from pimco with mike cudzil. welcome to bloomberg markets. you take a look at markets on this friday morning and at least on the s&p 500, taking a little bit of a breather. we closed at another all-time high yesterday. currently off by .3%. we will see how that changes as the day moves on. in big tech, little green light. the nasdaq 100 currently higher by .1%. it had been hired by a little more a few minutes ago. the bond market rally continues to accelerate. 10 year yields lower by four basis points. we could crack 4.2% in short order. breaking consumer sentiment crossing the terminal, mike mckee has the details. mike: wall street thinks things are going pretty well but not the american people. the university of michigan headlines sentiment index falls to the lowest since last november, 65 point six, way below the 72 expected. current conditions fall. expectations fall to 67 point six from 68.8. americans did not get the cpi and ppi message come when you're inflat

and by the way, they have much less pm 2.5 impact than an ev does. did you know that electric vehicles aren't that much better on particulates than internal combustion engines? because the internal combustion engines now are so good that tire dust is a dramatic problem, and evs are heavier and generate more so getting bicycles and electric bicycles accessible to everyone. if this study could look at as you're looking at curb space and looking at e-bike charging, where can you integrate? e-bike corrals? would be a small add on, but it might create some really useful insights for moving forward in a more systems transit oriented way. thank you. thank you so much for sharing your comments. do we have any further speakers for agenda item number four, madam chair? okay. public comment on this item is now closed. supervisor mandelman, thank you. chair melgar, and i want to thank the folks who took the time to come out and talk to the committee on a monday afternoon, i also would be remiss if i did not thank zahaji , formerly of my office, who spent a fair

it is not like ev stopped selling.has started to increase and we expect to see come up with demand available in north america, we start to see more ports being needed through the back of the year. this will start to stabilize as ev adoption increases. >> i'm glad you brought up tesla because i haven't think about the competitive landscape. tesla has its supercharger network and other competitors as well. what does it look like to compete? how do you do that at this stage? rich: there is a market where you will see high-power chargers deployed and you will see a market continue to mature through hospitality, arenas, everywhere you go and spend a long time. see marcus developing equally in both of those as far as continue to deployments, but one is going to go -- grow faster than the other. the best place to charges where you spend the most time on purpose, so when you have to use charging because you are going someplace where you need to supplement normal charging that you have access to, we see the business case is bei

will you be just as committed to evs if there's a trump administration?bei be just as commi because we believe they are essential. >>> still ahead, party like it's 1919. >>> and thc scores a new bald-win. right after this. ghafr is teth.in (♪) join the millions who're feeling the power of osteo bi-flex®, the #1 pharmacist recommended joint care supplement. (♪) find our coupons in sunday's paper. new herbal essences is packed with naturally derived plant based ingredients your hair will love and none of the stuff it won't. our sulfate free collections smell incredible and leave your hair touchably soft and smooth. new herbal essences. pain means pause on the things you love, but... green... means... go! ♪♪ cool the pain with biofreeze. and keep on going. biofreeze. green means go. [♪♪] there's a way to cut your dishwashing time by 50%. try dawn powerwash dish spray. it removes 99% of grease and grime in half the time. it cleans so well, you can replace multiple cleaning products. try dawn powerwash. try killing bugs the worry-free way. not the other way. z

sometimes consumption ev, two ev sold in the world, one point three sold here in china. here at home , but of course the tone in place, like anything, it's just when people see the attraction of ev that has a lot of new participating break in the ground, it has overcapacity. but the demand is going to pick up because of penetration in china is the highest in the world. still, there's nowhere to go to phase out the vehicles. it's a great economy is further global markets based on competitive advantages. right now, for energy transition in general and they ev in particular, china is the most efficient cost producer. it's good to have open markets, not only chinese cvs, but in north american customers around the world. stephen: i will tell janet yellen you said she's being myopic. just teasing. thank you so much for your time here at the world economic forum. who knows, sometimes we are all a little bit myopic. not you though. haslinda: that's right, we know he has great insights on chinese economy. his insights have been relevant to our investors. he says confidence remain

because that's what's available in the supply for used evs.'s becoming a usable option for consumers and it's a tax credit right now and that's helping them pull down the outlay of cost they have on the used ev. it's a mixed story and a mixed bag, but we see the cost parity is driving more sales of evs over a used car. >> how does the lease market fall into this? i think i saw an ion 6 where you can get it less than $3,000 a month, i don't know why i would buy a used ev if i could lease one for that price. >> it's a tale of two stories and it's helpful and driving down the price for the evs and another good news about that is that we will have a better supply of used evs coming into the market two or three years in it, as well and it's good, affordable options from a leasing perspective which puts downward pressure on the used price, but it allows us to see a steady supply starting to come into the market as used evs and making that transition easier. >> i wonder if they're about to inflect lower. traditionally a used car $32,000 and evs $34,0

europe is now increasing its ev tariffs for those evs coming out of china, but you are -- along withdustry you're saying we've got to be careful about this, and i say we, overall. the western and european countries need to be careful about this because this goes down a slippery slope. explain your thought process there. >> absolutely. look, this is a very open competition in the worldwide alternative market. we are competing in a very dynamic way against all the other brands, all the other carmakers. we see that the chinese are coming with a 30% cost competitive edge against let's say the western brands, and we need to be able to compete with them. anyway, even if we would be protected in some parts of the world we still have to compete everywhere else in the world against those very harsh competitors, so what we say is that it is better to compete and make sure that we use this harsh competition to progress faster to bring our costs, our quality, our competitiveness to the best level in the world. if we find ourselves protected in a bubble, our capability to compete everywhere else

ev market is headed?overly concerned about where the market's going. it's continuing to grow maybe at a slower pace, but we see huge growth opportunities. and now as we start getting more models out, we've got adequate stock of blazers and lyrics out there. plus we've got the new equinox ev and the silverado rst hitting dealerships. we think we've got an electric vehicle for everybody at general motors. >> what's what do you what do you think is happening right at this moment though? why why are ev sales flat? what is driving this? >> yeah. you know what i think there are obviously economic headwinds that are out there. but one of the biggest things that we want to combat is, education and misinformation. i think when it comes to the transition from a ice vehicle to an ev vehicle, there's a lot of lack of information out there which causes several anxieties, whether it's anxieties about cost, model range and charge, where our team at gm energy is looking to really eliminate those anxieties by tackling eac

getting rid of most of their ev fleet.you sound like glenn youngkin in his announcement. keep it up. >> i don't have anything against electric vehicles. if you want up by macklin, buy one. 9% of automobiles in virginia that are purchased are electric vehicles do turn around and mandate that 35% of them have to be electric vehicles imposes an extraordinary economic burden. >> sandra: that sounds like common sense. he says i'm not against the evs, but when you only have a certain percentage of the market that wants them, where are we talking about double-digit mandates in some states? >> if you are the government and trying to push people and new technology going to get people to do that, you do that through the use of tax incentives. to your point about glenn youngkin, it is common sense to say if you want to buy and ev, last month, the last couple of months, evs represent somewhere around 8% of sales or so. high single digit of sales. there is demand for it. not as much as people wanted. the result is what we are seeing no

>> we are number two in ev's for the last couple of years. and were entering new customers the mainstream customers and are not willing to pay a premium for ev's they don't know how to handicap the charging and the resale value and insurance has gone up and they don't know how to handicap that, they can do the math on the hybrid we are also number three in hybrid in the only company that offers all three in america's best-selling vehicle, the f150 we have electric and hybrid and we hear hybrids are attractive because people can do the math and figure out how much money they can save on their gas in the mainstream customers not early adopters that were seeing now they don't how to handicap the actual experience. in q1 because of the heavy r&d spending you are 1.3 billion in losses and you sold 10000 vehicles. as somebody is driven ev the one pedal drive is kind of fun it's responsive how long will this take to catch on and what is your path to profitability? >> the most important question in the car business because the admission requirements

a half mile away is another company making evs.. the aim is to produce more than 3 million evs a year by 2025. it has fallen short. data from japanese research firm shows the city's factories could have the capacity to produce three times as many e vvs. it hopes to refv up production. it's groundless he says. if your cost is low thanks to your scale and price is more competitive, anyone can compete, right? what the chinese see as competitiveness, many other countries view as unfair trading practices. the u.s., europe as well as turkey among other countries have been raising tariffs on chinese evs, frank. the chinese government is threatening retaliation. >> a lot of talk about retaliation and tension with the g7 nations. you hit on the overcapacity issues. is there any concern about even more retaliation or economic response? >> reporter: there's absolutely a lot of concern about retaliation. in fact, you mentioned europe. the eu had made the announcement they were going to slap pretty big tariffs on chinese evs. about 50% per car.

18%, which is much more than for non-ev's over the same period and for use ev's the prices are down.moore, 27% decline in price year-over-year. is that consistent with your understanding? >> yes. it's intuitive if you consider how do ev technology is relative to enter the combustion technology. in other words, any permits we see an cost today on an ice engine or at one of years of refinement were as a stage were at with evs might be better compared to where we work went into the combustion got as far as the model t. more work will have the will make them more efficient and is not surprising that cost group is moving to faster for evs then for ice cars right has been my colleague suggested the federal government was behind the majority of evs in america. you thankfully put that in kind of, i think was a math problem over there because it was .5% according to spit is that the most recent data i've seen. >> pretty far from an majority. on the issue of why bother,, because my colleague from arkansas pointed out that if we electrified our transportation system overnight here in the united

evs make of a meaningful pores of our sales. we sell dispropotionately high levels of evs, to the entire mix of customers, whether it's age, income or any demographic that you look at. we do skew a little more younger, more affluent, and we're making investments there to make sure their experience is great as well. >> can you make tyler an offer? [ laughter ] >> that's not what i was looking for, but we'll talk later. >> give us a call. >> thanks, ernie, we appreciate it. >>> the 2024 presidential election, have you heard about it? it's right around the corner. when it comes to cash, donald trump is reeling in the big bucks. we'll discuss the megadonors backing the former president's campaign, when boil polyreturns. "power lunch" returns. your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire >>> welcome back. the presidential battle for the big donations from b

. >>> the eu threatens tariffs of up to 38% on chinese evs as the bloc commission tells cnbc it deserves level playing field. >> what they want to ensure is that this investigation is a fair competition, that chinese companies are not gaining a competitive advantage through subs days. >>> tesla shares drive higher pre-market amid a key shareholder vote which could see it award a $56 billion pay package to the ceo elon musk. >>> and g7 leaders touched down here in bari, italy looking to sign off on a deal to increase funding for ukraine's war efforts using frozen russian assets ♪ >>> welcome back to the show, everyone what an interesting session it was on thursday. we got a cpi print out of the united states showing, you know, quite a bit of positive sentiment there, that inflation was healing stateside. markets seemed to have enjoyed that then we heard from the fed saying that basically changing their projections in terms of rate cuts for this year, now saying it's likely that we're only going to see one rate cut we'll try to digest what these two events mean for the markets, perhaps whi

an ideological allies in 12 states are seeking to ban the sale of not ev cars. we can talk about the proper role of government, that would be a great conversation because i don't think that we have the authority or should have the authority to limit what consumers can buy in this regard or what they can own. but clearly, mr. secretary, this is a working. so i'm wondering is there some point, and if you have identified some point where you will stop, with the administration will stop, where the federal government will stop this requirement and let the market decide as opposed to this sinful planning model of this dictatorial policy. >> thank you very given time is limited i will confine myself to addressing the factually incorrect versions of what you said beginning with the assertion that ev sales are going down. they are, in fact, going up. [talking over each other] >> driver ribosomes purposy single year -- >> mr. secretary, the government is forced to buy them so sales are going up by private sector -- i like those numbers. >> 1.2 million evs were sold in the

>> first of all, said brightly it is different commercial ev's and passenger ev's. fleets to go carbon neutral and have pledged. second, with a lot of incentives by governments, for example. we are just starting to see the adoption in the commercial vehicle market for electrification were passenger vehicles are a bit more saturated. the demand and commercial vehicle has just started. you are correct, the u.s. is slightly behind. but i see this as a huge opportunity because now we are ready. we are ready as of january this year when we reached certification and able to start providing vehicle to customers. this is the time for us, the perfect for for us to grab the opportunity. i am happy it is opening up and enormous in terms of the market. >> still a bright outlook when it comes to the commercial u.s. ev market. i do want to talk a little more about your business. you are based in tel aviv. you think about the post october 7 world, what has operating the business look like? >> it is challenging, it is. i can't say we are not affected. we have made several changes o

18%, which is much more than for non-ev's over the same period and for use ev's the prices are down.moore, 27% decline in price year-over-year. is that consistent with your understanding? >> yes. it's intuitive if you consider how do ev technology is relative to enter the combustion technology. in other words, any permits we see an cost today on an ice engine or at one of years of refinement were as a stage were at with evs might be better compared to where we work went into the combustion got as far as the model t. more work will have the will make them more efficient and is not surprising that cost group is moving to faster for evs then for ice cars right has been my colleague suggested the federal government was behind the majority of evs in america. you thankfully put that in kind of, i think was a math problem over there because it was .5% according to spit is that the most recent data i've seen. >> pretty far from an majority. on the issue of why bother,, because my colleague from arkansas pointed out that if we electrified our transportation system overnight here in the united

they have a superior cost structure on evs.makers are more channelled from a cost stand point, they have to price higher, so it limiting what pricing they can offer. that's why they're perhaps at some what of a competitive disadvantage for the time being. >> i imagine on top of this if we had chinese evs to worry about, which still seems like a ways down the road. dap, thank you very much for your time. >> thank you for having me. >>> speaking of evs, now that elon musk's pay controversy is probably in the rear-view mirror, jeff killburg has a bullish way to trade tesla, calling it a high beta stock that offers an electrifying opportunity. go to cnbc.com for more. >>> coming up, a $4 billion next generation nuclear power plant being built by a company founded by bill gates. there you see him at the ground breaking in wyoming this week. later on, we'll speak with the company ceo about what makes this plant unique. as we head to break, check out shares of penn entertainment, plunging almost 10% as analysts say a sale of the compa

ev values and ev market has dropped substantially.lapse here. reporter: ev sales jumped from 2021 to 8% last year but nose dived in the first quarter of 2024 for a variety of reasons including buyer's watching evs die in freezing temperatures. >> once you take a car off the lot and electric vehicle is depreciating 50% of its price. compared to 6% depreciation of an internal combustion engine vehicle. reporter: a recent mckenzie report said half would switch back to gasoline powered car if given the chance. >> electric vehicle owners may cost just as much if not more to charge their vehicles than to purchase gasoline. reporter: that's especially true for fast chargers when you can find one. >> you see a lot of consumer withs both price anxiety and range anxiety. reporter: triple-a found declining interest with two-thirds of buyers saying the next car they buy will not be electric. >> we need a couple of minor little milestone improvements and battery technology and efficiency combined with the infrastructure and comes together and it'l

use ev's versus guest vehicle pricing, ev $28767 versus gas $31424.hen it comes to used cars. >> i was reading how the resale value as good as gas cars maybe because some people have concerns and when you talk about whole country, one of the most interesting stories was west virginia coal miners pushing ev vehicle came to a stop to plug it in and charge. not so long ago a probably from massachusetts one of many families driving to the totality in burma and they get stuck up there for hours standing in these long lines of electric vehicles for a chance to charge. before they can make it all the way home. hours in the dark with low stakes and eventually getting home so anecdotal stories while the future may be electric as they talk about is not it doesn't look all that close realistically. what is it cost the environment? >> not to mention the other $4 billion charging taxpayer project where they built seven charging stations. there is corruption happening somewhere, follow the money. there is skimming and the bill is a total scandal and it needs to be

it's less than a month after the us announced plans to quadruple duties for chinese evs to 100%. leader of constellation research, told me what impact these tariffs are likely to have. the biggest impact is really thinking about what's going to happen to european jobs as well as what's happening to the market for european evs. what china is doing with these tariffs is dumping on the europeans and the americans in terms of car manufacturing, heavily subsidised batteries and plants, and that's what the europeans are worried about. but the challenge for european manufacturers is they have a lot of capacity in china and so we have a situation where it will be an interesting balance of trade. over 20% of ev sales in europe were chinese origin and europe is in this market of trying to protect their auto exports but also manufacturing and exporting in china with manufacturing in china operations so it will be an interesting balance of trade argument. is it going to be what we call or protecting european jobs versus potential china retaliation? beijing said it would take measures to save

the ev start act.ry is grateful to both senators for the long- standing leadership on ev policy and the recognition that the policy will make the roads safer. our organization was excited to out. vs specifically the working group encouraged committee action on a federal framework for the testing and m transportation and this is for competitors in the chinese communist party. there is a strong interest for the department of transportation for how this can increase safety on american roads. we need action in key areas. ru the step program which was announced in july, 2023. they present an opportunity to reimagine how vehicles are designed and promote safety and accessibility. it will encourage deployment of next-generation vehicles and open up a wealth of data to make progress toward establishing an effective government structure. another example where d.o.t. should take immediate action is from granting the industry exemption request alalternative warning devices when a vehicle is stopped on the roadsid

that's been one of the big drivers of ev demand.oking an ev for a weekend or few days to see if that vehicle with all of its new technology is a good fit for them but we see people using turo as car enthusiasts. we're just announcing this week that we're bringing a revolutionary new way to search for vehicles on turo. instead of entering a destination and a date, which is the traditional rental experience can you start your search by specifying a particular brand, make or model, and we'll show you everything available. so if you want to rent the cyber truck or that rivian you were talk about earlier. we can show you all the rivians and cyber trucks available on turo. >> more specificity. given that your business has grown 400% the last few years you say you're pleased with the performance of the business you've filed to go public for a few years now, but what's keeping you on the sidelines. >> we're excited to go public in the right conditions. the last few years have been challenging for the ipo market so we're waiting for conditio

as you said, there is fierce competition in the ev i is fierce competition in the ev market and we areassets we have at citroen is precisely the introduction of very affordable electric vehicles. six months ago, we introduced into the market the new ec three, the first european electric car below 25,000 euros and today with the new citroen, we will introduce the very first affordable suv, electric suv, in the market. we have a very specific positioning where we are at introducing very affordable electric cars that can also compete with the chinese competition. to can also compete with the chinese competition. to pick up on our chinese competition. to pick up on your point — chinese competition. to pick up on your point about _ on your point about affordability, i am sure there is something similar or maybe you can tell me, in the uk we pay taxes to dry in the city of london, for example, and there are benefits to having an ev car. what is the situation in europe when it comes to petrol cars or suvs? is there a premium that owners will have to pay? it premium that owners will have to -a

it comes less than a month after the us announced plans to quadruple duties for chinese evs to 100%.mplained that china was flooding the market with heavily subsidised vehicles. industry expert ray wang, and the founder, chairman and principal analyst of silicon valley based constellation research, a research and advisory firm. the biggest impact is really thinking about what's going to happen to european jobs as well as what's happening to the market for european evs. what's china is doing with these tariffs is basically china's dumping on the europeans and they're dumping on the americans in terms of car manufacturing because heavily subsidised batteries, heavily subsidised plants. and that's really what europeans are worried about. but the challenge is actually the european manufacturers have a lot of capacity in china. and so we have a situation where it's going to be an interesting balance of trade. over 20% of ev sales in europe were actually a chinese origin, and europe is basically in this market where they're trying to protect their auto exports, but they're also manufacturi

but with cheaper chinese evs flooding the global market, the us has applied tariffs on the vehicles.ion is widely expected to follow suit. hans greimel from automotive news gave us a sense of what's at stake. the us as you have just mentioned has a 100% tariff on exports from china and the eu is about to follow suit, although the import tariff rate is not expected to be as high. it is probably going to be around 10—25%. that will probably be more than enough to offset the or to out cost the cost of exporting from china to the eu in terms of logistics and shipping. so that basically would reconfigure the cost equation that chinese auto—makers face. equation that chinese auto-makers face. given the influx of _ auto-makers face. given the influx of cheaper _ auto-makers face. given the | influx of cheaper alternatives to chinese evs something widely reported and talked about, what can china do in the current scenario?— scenario? probably one immediate _ scenario? probably one immediate impact - scenario? probably one immediate impact you | scenario? probably one i immediate impact you w

ev maker rivian have entered into a joint venture. vw will invest up to $5 billion in the tesla rival, which rivian says will help it develop new models and cut operating costs. rivian shares are surging in extended trade, adding around $6 million in market cap if the move is replicated at the open, however, looking at the share price reaction so far for vw, investors not appreciating this announcement, at least for the time being. we're joined with more details on this story. annette, outline for us, why are we seeing shares moving back ahead of the announcement for vw? >> because that's very normal. probably a reaction. the one who trades the money probably trades lower. nobody really knows whether this bet is actually going to pay off. so for now, software jeering at volkswagen is the main problem, i guess, for the company going forward. currently they've put all of their software in one unit, so that gives you a little more scenario, which is the amount they're investing with rivian. it's big, of course, but it's not like huge for

moving on from that, if we talk evs injapan, why has demar not really taken evs injapan, why has demarlly ta ken off evs injapan, why has demar not really taken off in the country and what needs to be done, in your opinion? to and what needs to be done, in your opinion?— your opinion? to be honest there's just _ your opinion? to be honest there'sjust not _ your opinion? to be honest there'sjust not enough - there's just not enough electricity. after the fukushima disaster electricity. after the fu kushima disaster and electricity. after the fukushima disaster and the fu kushima disaster and the closing fukushima disaster and the closing of the nuclear power plants, electricity has been very tight on the supply side, and in the peaks of the summer and in the peaks of the summer and the winter there is only something like a 3% margin of access electricity so it is just too tight. prices have also gone up quite sharply as a result, and with the weak yen and just about the fact that all energy is reported cost of staying very high, so just isn't practical to have an ev injapan at the momen

last time you were here, we talked about ev and the ev mandates coming forward and i knowow being the former governo of michigan, i have greater appreciation for the american automotive industry moving forward. my concern was before that atth ev mandates are going to make inefficient the automotive industry, for example, after the inflation reduction act, ford motor company had made the decision to build two battery plants in my district now that the market is moving forward, they are going forward with both, they are finishing both, and you are hearing dealers say people just don't want the cars. and here issue is, just having access to battery charging. so this gets to my question. every time we bring it up, we are going to go to the electric cars headed, but we don't have enough charging or lithium, and we just get called naysayers in the system but the real issue is for the real people who make the decision whether or not to buy a car. if somebody wants to buy an electric car, i have to figure out how far i can go on it and it does factor into that. but as secretary of energy, dir

consumer reports that evs associate with 7 more problems than conventional vehicles. j. d.tion declining across the board especially regarding level two charging with roughly 20% of attempted charges in thing without success. station 20% of the time leaving empty. cox automotive found be the inventory nearly twice that of the overall market, and 3500 car dealers some of whichisited me and i represent sent a letter makiew administration to stop these mandates. now recognizing that attempts to bribe the industry and the ev adoption have literally failed at this point, continued mandating cafestandarh artifact of an ideological allies in 12 states are seeking to ban the■ sale of not ev cars. we can talk about the proper role of government, that would be a great conversation because think that we have the authority or should have authority to limit what consumers can buy in this regard or what they can own. butarreta, this is a working. so i'm wondering is there some administration will stop, wheree the federal government will market decide as opposed to this sinful planning mo

how are they impacting the ev market?hat you are already starting to see is more localization of. it will slow down ev adoption. a lot of country -- countries have been missing these models. you have heard negative headlines saying ev sales are falling. in absolute terms they are still growing. we are projected them to grow 20% this year that we are projecting them to grow 20% this year -- we are projecting them to grow 20% this year and that is holding up. you will still see about 17 million sold this year. that's about one in five cars, so that's one in five cars sold in the world this year will have a plug, a remarkable milestone. tom: important context. projecting forward, what is the outlook from you and the team for u.n. -- for ev's? >> it is still bright because the technology continues to improve. we are seeing battery prices under $50 per kilowatt hour at the cell level in china. that will start to trickle into other international markets in the years ahead. that's what will drive adoption more. cheaper ev's that

lot of presence in canada as well -- other ev's like neo and real id.f course, canada is trying to build up its own domestic industry, pouring in billions of dollars to build up their own domestic supply chain so that market barrier supply chain will just keep going up in the future. paul: still to come, our exclusive interview with oaktree national management cochair howard marks. we hear from why he is refusing to back away from investments in china next. this is bloomberg. ♪ this is our future, ma. godaddy airo. creates a logo, website, even social posts... in minutes! -how? -a.i. (impressed) ay i like it! who wants to come see the future?! get your business online in minutes with godaddy airo are still calling each other rock stars. you're a rock star. we're all rock stars. oooo look look at my data driven insights, i'm a rock star. great job putting finance and hr on one platform with workday. thank you! guys, can you keep it down. i'm working. you people are (guitar noises). hand over the air guitar. i've got another one. paul: veteran investor ho

it was christmas eve in the year 2006. a little farm not far from a little town called buffalo, buffalo, missouri. on that farm in the new house brad and lisa jennings had built for their family, the stockings were hung. the children were snug in their beds. lisa was sitting up, very late, drinking wine and crying. meaning, who knew? for one thing with lise in the way, brad could not sneak that secret of his into his -- her stocking which is what started the argument, slamming doors, the sudden silence. before amanda woke up to the sound of her dead on 911. >> he is very hysterical. he is crying, can't really say anything other than get here quick. get that quick. i heard that two or three times. >> such a complicated tale with its secrets, lies, shifting loyalties. here, of all places, this throwback to an idealized past. >> we hunted mushrooms and picked up walnuts. >> they were inseparable children, brad and his older sister marsha. >> we depended on each other. >> marsha became a nurse and brad ran the firm. the center

. >>> the eu is reportedly set to more than double tariffs on chinese evs which it claims benefits from states. we'll discuss this hour. >>> european banks stage rebound while others are clareting around the french budget ahead of a snap decision this month. >>> and they keep a lid on deflationary prices while others decline for the 20th month straight. >>> good morning, everyone. we start today's show looking at the latest commentary from the international agencagency. they say oil demand is to peak by 2029. major supply glooms. they're also suggesting that they see supply capacity hitting nearly 114 million barrels per day by 2030 or a full 8 million barrels per day above projected demand in its annual oil report that is due right now. this projection is based on the latest day that that shows a major supply merge, suggesting that oil companies want to make share their buzz strategies and plans are prepared for changes taking place. we know the iea had made similar comments in the past, suggesting that it is time for oil companies to indeed accelerate the transition, however, we know

initially it was called adam and eve, but then they decided that adam and eve, he, she, men and womenvery much, even if on the internet you type, and they - this is like a more capacious name and it is very suitable for this work. three-meter, almost a ton of iron ones, andrei bisti collected for more than 2 years, 154 cubic meters. most of andrei besti's works presented at the exhibition were created in the direction of being made from something made. the main principle is that objects of the past acquire new meanings and reality. despite the bizarre shapes, the viewer can easily read the key details. the hook is some kind of tool, apparently for the craftsmen who weaved baskets. this is, for example, a bell that was hung on the root of the three, on the arc, during the wedding, listen. tura, watercolor, unique relief technique on original paper. more than 120 works harmoniously coexist under one roof. the artist invites the viewer to independently answer the age-old question: is a zebra still white with black stripes or black and white? at the same time, the author himself is set in

ev or minivan.> great to be with you. >>> it is 8:00 on the east coast. you're watching "squawk box" here on cnbc. i'm becky quick along with joe kernen. andrew is out today. >>> of our stories, neil cash car neel kashkari, a reasonable prediction the central bank will cut rates once this year and wait until december to do that. cnbc learned after this run starboard pushing for changes at the software company with auto devg. sp autodesk. an internal investigation led to firing of its cfo. the u.s. surgeon general said he will push for a warning label on social media platforms advising parents using them might damage adolescent health. it requires approval by congress to add warning labels. no's bill like this introduced in either chamber. good luck getting it passed but seems like common sense. >>> futures seeing a divergency between the dow, nasdaq and s&p. treasurys, quite a move last week that we saw. get to mike santoli at the nyse. mike, butterflies? an article in the "journal." i don't know ma

ev experiment didn't work.producing state. what do you make of this. >> about a half the e very vehicles that had been purchased were purchased in counties in america that were predominantly blue counties. i think people are buying them because they're afraid to go to a cocktail party and say they didn't have an ev -- [laughter] larry: that could be part of the same -- >> we know they don't work, and it's very simple. if you believe in liquid fuels, you're on team usa. if you believed in the ev, you're on team china. because you can't have an ev car industry in this country without buying batteries from china. they roll 85 of the rare earth minerals -- 85%. we fought if for 40 years to get out from under opec, and the climate extremists in the biden administration are saying hey, let's become dependent for our transportation future on china. it's a ridiculous thought marley when -- particularly when it's bad for our economy because it's driving inflation. i mean, all these subsidies that they have, the subsidie