Midwest economy was lost like 30 years ago.

Traditional car manufacturers and their dealerships franchises have been ripping customers off for decades. They made themselves ripe for disruption and I'm glad their era is coming to an end.

How do ruin something that's already ruined?? I primarily up in Cleveland, Ohio during the 1980's and 1990's. I watched the decline as manufacturers left and relocated to cheaper labor cities/countries. Why do you think it's called The Rust Belt now?

We are already in the big crash, Inflation is a catastrophe. This CPI report is a colossal failure. To bring the housing market to a halt, the FED will have to pull all the stops. The unfortunate issue is that other markets are being decimated. If you want to stay green, you have to rely on a lot of diversification. Currently up 14% and being careful. Still a better deal than leaving it in a savings or checking account yielding 0-1 percent interest.

Ruin the Midwest Economy? Where have you been the last 4+ decades while the general outsourcing of manufacturing absolutely destroyed local economies across these states? I grew up in Ohio and went to school in Indiana. People have been suffering economically in these states for a VERY long time. I was one of those "contract workers"/"temp"/"contingency worker" for Honda for several years in my early twenties. We were performing the exact same duties and processes on the assembly line as the Boomers working next to us making literally less than half their hourly rate. When I was at Honda, they were force retiring the older employees in large waves to make way for us temps, a far cheaper workforce hired by third party employment contractors like Addeco, Spherion, etc. I destroyed my body working 10+ hour days in just a few years at Honda at a measly $11.35 an hour. I imagine they still seriously abuse the hell out of their temps there. When I was there, we were only allotted 2 "emergency days", zero sick days, and only 2 paid days off after having worked over a year. And you better not run out of those days because the second you do, you're gone. The employee retention was absolutely absurd as, you know, sometimes you just can't avoid having to take a day off once in awhile. Probably the most grotesque practice though was how people were let go. No one tells you that you've been fired. You just find out when your access card no longer lets you in the building. How convenient it must have been not to have an HR department when you have temp agencies hire for you, right? I knew several amazing workers who had real emergencies that eventually resulted in their termination. Despite having a degree in Comparative Languages & Linguistics focused on Japanese and Spanish, I will NEVER even consider going back to work for a company like Honda. If any company desperately needed of a union, it's Honda Manufacturing of America and all of their OEMs located near Columbus, OH.

The part that struck me was that globalization is not the main culprit for the workforce going down in manufacturing. It's productivity going up. I have to agree after working in the automotive manufacturing. We're now more productive than ever with automation. The only problem is wages haven't matched productivity.

no more road trips 🥺🥺🥺🥺

I still remember working for Similton Windows. We were brought to the shipping floor, the the CFO announced the plant was moving to Mexico, and that effective immediately we were terminated. Volunteers were welcome to continue working at a decreased rate. Back then it was hard to find jobs, so we worked for 7.25 an hour to pack the floor. I still have the glass scars on my arms

As an EV owner who switched a year ago, somebody is coming up short. In regards to maintenance, all I’ve did in a year is put air in the tires. I clean it and plug it into 120 volt outlet. That’s it.

Have to get rid of dealerships from the equation. They are gouging out of control

The comments seem to be filled with fear. This is the natural progression of technology. Not many horses on the streets these days. My father was born in 1914 his first jobs involved knowing how to deal with a team of horses. I'm 72 years old and just purchased my first electric car. I grew up with muscle cars, they were an a blip on the radar of history.

Nice video!❤️ But my mentor would always say; Desire + Motivation + Action = Success

My grandpa was a linemen. Put doors on cars. He was able to buy a house, 2 cars, grab a beatiful blonde, my gma. Microwave. 2 color tvs. Had my dad. The 1940s and 50s were clearly superior for the random American worker.

Moral of all stories: Never put all your eggs in one basket. Regenerative agriculture is also a must do for Midwest as well.

new technologies do not ruin economies, lack of foresight and preparation does

If these companies don't transition, then they have only themselves to blame. However, all you have to do is look at places Detroit and Flint to see the midwest has been destroyed by the outsourcing these corporations have been doing for decades. If anything, this will just be the nail in the coffin.

All states must adapt to technological improvement and work cohesively, otherwise other countries will eventually surpass the US

It's a bit like after the turn of the 20th century: Carriage makers and the draught horse biz were a _massive_ industry; but all of a sudden the future went very blurry for them, and very scary. All you could tell them was: Start transitioning your business to what's coming. But if you were a carriage maker over a certain age, realistically it was going to be early retirement - not a crash course in auto mechanics. Change - even what's basically _good_ change - is extremely difficult for some. :^{

The Midwest economy has been suffering since all of our manufacturing went overseas. China, India and Indonesia have all of our manufacturing jobs now instead of people in our own country.

One still needs lubricant, grease, fluids in moving parts. The maintenance is still needed and parts need inspection. People expect to just get in and everything works forever, not the real world.

You need to build the batteries, solar panels, robots, and consumables in the USA. Not just for jobs but to avoid supply chain interruptions.

There has always been change, in products, in manufacturing, jobs, it's called evolution. Those that don't adapt, don't survive and it's been happening for billions of years.

CNBC has been under a rock for the last two decade? The Midwest has no economy, this is the best thing that has happened to the mid-west, as well as the Chips Act.

The one thing they didn’t mention at all is software. Big 3 outsource everything. Good luck when you need to make changes. Tesla is a tech company and does it all in house. That’s why they were able to rewrite firmware to use different chips when the chip shortage happened while The big 3 were probably still scheduling meetings with the vendor to discuss it.

The people making this show don't see to realize the older automakers are making EVs but no one is buying them,

I was lucky enough to work in a industry that allowed me to support my family. The printing industry. Working in Southern and then Northern Ca. I printed a lot of stuff. From checks,books,catalogs,menus,manuals. Then I printed wine labels. And I watch technology change n that industry. 10 jobs no longer exists in that industry. I moved with it. But it go so thin where international companies whipped out the small business printer. And online international Companies like VISTA PRINT. Here I’m a press operator and I get my business cards. Online. Complacency is a silent killer of personal and professional growth. We must have a new vision. A vision of a stronger manufacture and cultural growth.

Lol. You do realize that the old manufacturing model has been defunct in the Midwest? The reason why Minnesota is richer than all her neighbors is because she switched to tech and medicine first

It would be very easy for the big three to bring their car manufacturers back from Mexico if they were so inclined.

Things change, and you either adapt, or you get run over.

Talk about job loss? Just wait until Tesla gets their Tesla Bot launched and it starts replacing people in these factories.

How can EVs Ruin something that Greed already Ruined?

The strange thing about EV’s is that most people don’t really want them.

EVs? Governments, banks, and lobbying corporations have already ruined the economy. Wtf is this madness. 😂

Everyone with a revoked driver’s license seems to be enjoying their electric bikes 😂

As a medical transcription service owner, I constantly continued my education, keeping up with technology, equipment, new procedures and surgeries, and even evolving English skills. We went from typewriters to computers to speech recognition and templates, etc.

I ran a industrial electric motor repair shop in Cleveland for 34 years 1979-2014. I watched all my customers go out of business due to Chinese imports and Foreign investors buying the others. I retired in 2014 and our repair shop closed it doors in 2016. The major manufacturers sold out the jobs to overseas plants or just closed period! My brother worked for GE from 1976 through 2018 before they closed his plant in Ohio. He was the last engineer working there and forced a early retirement. Shame on those CEO's!

I noticed they keep leaving electric vehicle powertrain components that just batteries... they do realize electric cars are moved by electric motors, right? The batteries power the electric motors at the axles or the wheels. It's not just batteries that are involved in the powertrain of an electric car. The batteries don't move the axles or the wheels; that's what the electric motors do. And electric motors do have their own form of construction and manufacturing. That's also jobs.

The only thing you can count on in life, is change.

We drive from Kansas to Florida every year. There’s no way at this point we could drive an electric car that far with the current battery technology we have right now. Every stop would take way too much time to top off the battery.

Having a manufacturing job has been a bad idea for decades! If you saw automation coming and you didn't react, that's on you. Everyone needs to adapt skills and move forward. I grew up in the Midwest, this lesson has BEEN written on the wall.

Teslas been building them for over a decade. They make it sound like it hasn’t happened yet.

The idea of people needing different education to do the work is stupid. People can work without paying someone else to tell them how first. Companies need to invest in their people. Remember how in the old days people had loyalty to their jobs?

GM needed a technical CEO as do companies needing to survive major technical transitions. Instead, GM CEO Mary Barra dealt with the situation by publicly not uttering the word Tesla and hoped Tesla would wither away.

Is this a joke. Neutron Jack decimated the Midwest long before EVs started to takeoff.

To build a vehicle cost 30% less, but the sticker price is 30% more for the vehicle.

The legacy automakers will ruin the Midwest by turning a blind eye on EV’s when they had the chance. I am from the Detroit area and blame the arrogance of the Big 3. Americans are sick and tired of being beholden to gas price massive fluctuations and dependence on oil. They had their chance back when the EV-1 was introduced… all the major automakers were bringing forward a new technology and then, poof, they took it away when demand was growing. Major automakers revenue isn’t the sale of cars, but, all the maintenance involved after purchase. Good by to dealers and the price gauging, it’s over. If they do not pivot HARD AND FAST it will be to their own demise. Like I said, I’m from the Detroit area and their ignorance will hurt my area, but, there needs to be change.

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Midwest? You realize people are moving out of California because it was unaffordable

Meh, if we really cared about emissions we’d fund public transit.

12:02 idk man maybe the 1+ year wait for EV's means there's a ton of demand there.

Detroit, Cleveland, Flint, the Midwest.... They'll loose good paying jobs to areas like Tennessee, Kentucky, Alabama, Texas, and other areas that are less favorable for UAW and also incentivizing the auto manufacturers and suppliers to go there instead. I've been hearing for 20+ years that Detroit is coming back.. It's not and it will never come back. It will only get worse when these big auto giants and suppliers relocate work.

I work in and Live in the Midwest and make Auto parts and some EV parts. Most of the Midwest, except some cities, is a Job dead zone. I’ve lived in the Midwest my entire life been to all the Midwestern states and seen the same problem for years. The utter Lack of jobs, or jobs that lack good infrastructure, jobs with poor leadership, lack of support from local leaders to bring better jobs to the states and so on. Now there maybe some similarities to other states but it’s not just limited to the Midwest it’s nationwide.

EV's will change how cars are manufactured and what parts they use, driving many businesses bankrupt. Just imagine what happens when there are no more oil changes (filters, oil, mechanics, lift manufacturers, disposal firms, tools, and even whole shops devoted to maintenance), no more mufflers, no more gas stations, no more belts, radiators, water pumps, alternators, transmissions, ...the list goes on. Not only manufacturing will be impacted, but the entire food chain will be disrupted - even the places that need to check emissions every year.

While the union had done a lot of good for workers, it did create a certain degree of complacency among certain workers. I remember that we need to submit a request for moving a computer from one place to another, a task that can be done only by union workers. We can’t compete like that with other countries.

Spark Plugs is in for a wake up call. I live in a small town in Puerto Rico where there is really “no charging infrastructure” and new Teslas are seen every week. You just need a 220V and you’re set.

Californians, best of luck in a decade when you won’t even have the choice to buy an ICE vehicle. I am all for consumer choice but with all the power mismanagement within the state at at PG&E, I can’t see that working out well

What I really hate is how government politicians try to intervene and force the American economy into a certain mold. No, we ought to have a free market without government interference. Yes, that means some jobs are just better done abroad. A lot of jobs that require few skills can easily be done via cheap foreign labor. But, some josh are likewise better done domestically. And, many of these jobs often require higher skills and therefore also pay far better. And, with this efficient use of labor, businesses can better compete and offer lower prices to consumers. People often cry about manufacturing jobs being outsourced. Yet, they completely neglect the fact that many are still here and many other jobs are plentiful. There are so many trade jobs that simply can't get enough qualified people to even apply. Welders, electricians, plumbers, mechanics, etc are all hurting for workers. Medical and technology industries also need far more people.

The car also ruined the blacksmith economy. The smartphone also ruined the alarm clock, camera, yellowbook, and wrist watch economy. Back in the early 1800s, people were destroying looming machines because it was taking away their jobs. Such a primitive view of thinking stil exist today. Keep up with technology or be cast aside.

Technology is changing. This is part of progress. People will have to adapt or not survive with a decent standard of living. Best to expand industries in the western world rather than in Asia and other countries. With vehicles, EVs have much less moving parts, but have other types of complicated technologies employed.

Very informative video, good job CNBC.

The president of the spark plug company made a great point on EVs... infrastructure is not there. And I have several questions: how are these used batteries going to be recycled? And who is going to buy a used EV?

How clean and Green are these Electric vehicles? Electric batteries requires Lithium and it's mining has caused major environmental and economic problems to the countries from where it's being exported. So please do reasearch on Lithium mining issues, vehicle manufacturers promoting Electric vehicles are ignoring the effects of Lithium mining.

With rolling blackouts unavoidable, what are they doing to make more alternative power plants? Are they going to wait until power usage fails to supply, even close to enough, before making more to be ready?

LOL "we don't have the charging infrastructure". Ok I guess those outlets all over my house don't put out electricity. They probably put out pudding.

If you leave a reply as a foreigner, after the 2008 financial crisis, I remember 2009 when the executives of three U.S. automakers, General Motors, Ford and Chrysler, were accused of riding a company-owned jet plane to a congressional bailout hearing. I was surprised as a foreigner Because how did the American automaker get to that point and beg for congressional bailouts? I found out on the Internet that the external competitiveness of American car manufacturers has fallen a lot. Germany and Japan, famous for their automobile manufacturing, will suffer a huge economic shock Germany and Japan are export-oriented economies, with automobiles and auto parts accounting for 35% of total exports, and employment accounting for 10%. And the automobile industry accounts for about 15% of the gross domestic product. Electric vehicles require 20% more manufacturing manpower than conventional internal combustion locomotives. It can be manufactured 24 hours a day, 365 days a year. Since electric vehicles have only 30% less parts than conventional internal combustion engine vehicles as they are cheap, it is expected that these countries with many medium-sized auto parts companies will be hit by electric vehicles so much that they cannot compete in the Midwest such as Michigan, Ohio, Wiscons, Illinois, Indiana, and the United States. The American Midwest won't be hit by the electric car revolution because it's been down for 30 years

Imagine keeping industries outdated just to cater to people who refuse to update their skills. Glad that mentality is getting tossed out the window. Also, couldn't be happier that car dealerships are going away, Not having to deal with markups and being held hostage at a dealership all day by some greedy salesperson, is definitely a step in the right direction. Ordering your car, paying for it, and picking it up, without having to negotiate, is definitely how things should be.

U folks at CNBC do a great job on these EV and auto-related “series” stories - topical and informative. Please produce more.

If EVs are so amazing why are they being forced on the public?

the problem w incentives is that you have to remove them at some point.. and then there will be a slow decline as manufacturers once again chase low cost production

States compete with other states. That's the reality of the situation. If your state refuses to compete by not offering incentives, infrastructure, lower taxes, etc., you will lose out on these jobs. It's common sense. Businesses are a for-profit company. State politicians need to do a better job orchestrating their economy.

Wow. Good video. I learned something, thank you! 👍

I’m addicted to Munro Live. Sandy has a great informative channel.

I suppose its a great idea to bring assembly back to the mid American states. Unfortunately i keep seeing American and Canadian plants closed and jobs moved to Mexico where the wage is like 2 bucks an hour.

Paul Pilsner wrote a book call Economic Alchemy. In it he said when there is a technology stealing your job. Maybe you need to learn a new technology. Cause change keeps changing. This is how the Horse and Buggy people felt when Henry Ford changed the world. Car don’t even have carburetor anymore. Soon won’t need a gas powered engine. CHANGE CAN BE VERY PAINFUL. WHEN YOU FIGHT ALL THE WAY.

It’s imperative that the middle guys and little guys don’t get cut out of the picture when the transition over to EVs occurs. The real issue is that it will become increasingly challenging for people to find good suitable partners. It will drastically change the population and possibly make individuals become less intelligent over the generations.

What about someone who has or is pursuing PHD in internal cumbution engine?

This is still a new technology. Demand for EV still not at peak yet. No one want to wait for 45 minutes to “fast” fully charge their vehicles vs 4-5 minutes to pump your gas. Convenient > Consciousness.

It's crazy I have a Bachelor's degree in mechanical engineering amd OEMs in WV would not even email me back to say no interview. I hope they get crushed.

What is that grey car at 5:32 ? It looks like a Camaro but isn’t. Anyone?

There is high demand for qualified workers in many industries trough out the whole country. Change is unstoppable, embrace it and adapt no matter what.

The US motor companies have had the economy and our lives by the privates since their first commercial success. Yes automation helped develop our world to what it is today. But we never got better at designing our cities. Almost all US and Canadian cities are car-centrically designed. Yet cars are not living things. We are. I love cars, I love races and engineering and high HP. I love it so. Yet we keep designing our world for the car. Look at the Netherlands. People (PEDESTRIANS) and motorists/cyclists' are in an almost harmony. Children walk and ride their bikes to school, the shops, and their friends homes.... barely any fear of traffic there. All of this I wish for the people of my home of the US could have that everywhere one day. In the US we need transportation for long distances, but we need to design our cities (world wide) to lessen the day to day norm of millions of people wasting so much of our lives and time in a CAR just to get to where we need to be.

Maybe it be a great ideal for some of these companies put out by the EV market place to start manufacturing Electrical Transformers! Since we don't do that now in America! And with our sun having all sorts of Eruptions recently, I believe where gonna need new Heavy Electrical equipment really soon!

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Very informative. Thank you!

Easy. Either EV's are made in the Midwest, or they will be made somewhere else. The longer that can is kicked down the road, the more other, often new names, brands will pick up market share. Tesla is doing it right now and Chinese OEM's are ready to storm the US market. Having doubts? That's the reason why the Japanese were able to take their share of the US market in the 70s and 80s and Kia/Hyundai have done so in the 00s and 10s. The Chinese will do the same in the 20's and 30s. No, most people in the Midwest will NOT buy an EV this or in the next 5 years, but they will after that. Those EV's could be made in the Midwest or more jobs will go away. It's do or die. Traditional car makers and their suppliers know that this transition will take place, but they want to ease into this transition at their own pace to protect the profits and their bonuses. Newsflash, they will not determine the pace of the transition. Their pace in the transition will determine if those jobs are in the Midwest or somewhere else.

EVs will not ruin the midwest economy. It's the lack of innovation among the Detroit automakers that are leaving them in the dust. It's their own fault.

The last four words of this vid are of ultimate importance.

Where are all the battery materials going to come from?

One Question: Why would EV's ruin the midwestern economy when all of the major midwestern car manufacturers produce EV's themselves?

Does investing in a all electric vehicle State or Country sound smart ? ..... does, "Putting all your eggs in one basket" sound familiar ?? ... each State and Country need to have multiple energy sources, ... not depending on just one. A country that depends on ONE SOURCE of energy is probably doomed themselves !

Exactly ... said it all at the end of the video ... as long as the infrastructure is in place, and as long as the cars are affordable. We're a long way from either (my opinion).

I think a lot of the states with big land with options to expand factories in the future are winning here. Also freight cost is going up so a lot of the companies are building near shorelines.

the real question is "will the midwest economy be smart enough to adapt to the future"

EVs are better than gas cars but are not a long term solution. Their increased weight causes more road wear and tear, and even with prices coming down they're still too expensive for most Americans. It's not reasonable to ask every American to spend $40k. Instead, if we build more affordable, walkable, bikeable mixed use areas with public transport, many people won't need a car, which will free up supply for people who still want to live in suburbs

That guy thinks that most factory workers have a 2-3 year manufacturing technology degree? 🤣

I have a question. Love to watch ‘Air Disasters’ on Smithsonian channel and while watching one they stated that fuel tanks in the wing pump over 200 gallons of fuel to engine per hour. If we are doing away with fossil fuels are we going to electric powered plans? Just a thought

The day manufacturing is back in the US will be the day America is poor. Every iPhone sold leaves $700 in California for the design, and $8 in China for the manufacturing. Who gets the better deal here?

Change is always going to happen, and usually faster than people would like it to. I think one thing that these car companies are ignoring is the money that can be made in the business of installing and maintaining the charging infrastructure. They need to not only get involved in building the vehicles but they need to also get into the business of setting up the infrastructure for both home and public recharging. That business could provide a lot of jobs.

The USA can absolutely bring back Manufacturing dominance. Outsourcing is being pulled back (especially with China) and legislation needs to be in place to contain international investment with incentives for home grown enterprises. Technology rights and advantages such as car Micro Chips should be prioritized for US industries - instead of handing over Innovation developments to Asia. It is unlikely to achieve the productive era of 1950's America , for lower end products, but the mid to high end goods could be reclaimed , over time.

That reminds me on the time, in the early 2000. I worked for GRETAG. The made mini labs to process foto-films. The kind you had in one hour foto-shops. The rest story you can imagine. I work now in the rail-way industry.