Ann: Anson Achieves First Mississippian Mineral-Rich Brine Flow, page-71

It is more than the high end of the market getting into EVs.
China is huge, and as a lifelong automotive professional, I am confident that Chinese manufacturers will take a considerable share of the market if the established brands have not already started to run with this. I use to laugh at watching Chinese car crash test videos. Not now as cars like Geely are sitting on Volvo platforms and running all their safety equipment but at a cheaper price. Yes, "some" are still rubbish, but Geely, BYD, and others are very nice cars.
So here is the question? Would you buy a Volvo XC40 EV for $85000 or the same car with a different badge for perhaps $15000 less?
VW is dropping 15 different models from their lineup, as they know now that they can't compete with the wave of EVs from china. They are pinning their hopes on Audi Porsche and EV Volkswagens to keep a market share.
This is as Tony Seba would say, it is a market disruption. It can not be stopped.
Personally, I will still need an ICE to tow my V8 race car and that's where I hope the ASN share price will come in.