‘It’s stupid’: why western carmakers’ retreat from electric risks dooming them to irrelevance

Iran war should be wake-up call about costs of not going full throttle towards EVs as Chinese have done, experts say By the 1980s, Detroit’s once titanic carmakers were being upended by rivals from Japan. Ford, General Motors and Chrysler had grown rich selling gas guzzlers, but when oil prices rose and suddenly cheap, fuel-efficient Japanese models looked attractive, they were unprepared. The collapse in sales led to hundreds of thousands of job losses in the automotive heartland of the US. ...

By Alex Daniel