Why Hybrids Are Beating EVs In The U.S.

When Japanese automaker Toyota first brought hybrids to the U.S. in the early 2000s, they were at the cutting edge of green transportation. But soon after, EVs stole the spotlight. Elon Musk-led Tesla disrupted the auto industry and nearly every major legacy automaker scrambled to take part in the coming EV revolution. With almost no fully electric vehicles, the once vanguard Toyota looked behind the times. However, as of early 2024, EV sales are leveling off and hybrids are making a comeback. Automakers such as Ford, BMW, Mercedes, Hyundai and General Motors are all either pulling back on EV production or boosting the manufacture of the humble hybrid. The vast majority of hybrids are standard ones - with an engine and backup battery. But plug-in hybrids are a growing category. Automakers such as GM are reintroducing them to North America. Chapters: 00:00 – 01:55 Intro 01:56 – 05:42 The hybrid surge 05:43 – 09:36 EV troubles 09:37 – 14:46 What’s next Producer: Robert Ferris Editor: Darren Geeter Animation: Jason Reginato Senior Managing Producer: Tala Hadavi Additional footage: Getty Images, Toyota, Tesla, Ford, Volvo, Hyundai » Subscribe to CNBC: » Subscribe to CNBC TV: About CNBC: From ’Wall Street’ to ’Main Street’ to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Want to make extra money outside of your day job? Take CNBC’s new online course How to Earn Passive Income Online to learn about common passive income streams. Register today and save 50% with discount code EARLYBIRD: Connect with CNBC News Online Get the latest news: Follow CNBC on LinkedIn: Follow CNBC News on Instagram: Follow CNBC News on Facebook: Follow CNBC on Threads: Follow CNBC News on X: #CNBC Why Hybrids Are Beating EVs In The U.S.