What Happened: On Thursday, Johnson discussed the automotive industry’s direction regarding electric vehicles (EVs) during CNBC’s “Last Call.” He pointed out the stark price difference between plug-in hybrids and battery electric vehicles (BEVs), comparing Tesla Inc. (NASDAQ:TSLA) and Toyota Motor Corporation (NYSE:TM) emphasizing the cost-effectiveness of plug-in hybrids.

Why It Matters: The conversation around EVs and plug-in hybrids is intensifying as the automotive industry evolves. Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management, recently argued on the same CNBC segment that consumers are gravitating towards EVs, particularly due to the high performance of Tesla batteries.

Furthermore, a report by Atlas Public Policy suggests that owning an EV, like the Tesla Model Y, could be more economical over seven years compared to gas-powered vehicles such as the Toyota Highlander. This reinforces the notion that EVs may offer better long-term value despite higher initial costs.