Liam Denning, Columnist

EVs Take a Gap Year Awaiting Sub-$30,000 Tesla

Remarkable growth in US electric-vehicle demand has roughly coincided with the automaker’s launch of a game-changing model.

February 5, 2024 at 11:00 AM UTC

By Liam Denning

Liam Denning is a Bloomberg Opinion columnist covering energy. A former banker, he edited the Wall Street Journal’s Heard on the Street column and wrote the Financial Times’s Lex column.

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The energy transition requires subsidies, policy support and technological progress. Above all, though, it needs people to literally buy into it, and nothing exemplifies that better than electric vehicles.

EVs are a consumer product that radically alter established energy demand patterns: US gasoline consumption, despite having flattened out, remains the world’s single largest pool of oil demand. The problem is that, for a new consumer product, the buzz is notably muted here in the US.