California is prepared to move away from gas-powered cars by 2035, people can still drive these cars and purchase used ones, but the state is shifting toward electricity or hydrogen powers cars, trucks, and SUVs.
On Thursday, CNBC’s Jim Cramer stated that California’s decision means good news for companies like Telsa. Furthermore, Cramer noted that CEO Elon Musk would soon be the king of the state.
“It’s going to be a state of Teslas unless Jim Farley can get that F-150 Lighting out,” Cramer said on CNBC’s “Squawk on the Street.”
“He thinks he can do 600,000 run rate by the end of next year. This guy is going to own California given this new initiative.”
California remains the seventh-largest oil-producing state, so it will be a painful transition for some parts of the area; however, its output is falling as the state moves ahead with its climate plans.
“The climate crisis is solvable if we focus on the big, bold steps necessary to stem the tide of carbon pollution,” California Gov. Gavin Newsom said.
Eduardo Razo is the Assistant Content Editor for BNM, which includes writing daily news stories on the news media industry. He can be found on Twitter @eddierazo_ or you can reach him by email at eddie1991razo@gmail.com.
