I like this analogy...
"China’s push with EVs into global markets is reminiscent of Japan’s efforts to break into the U.S. auto market with fuel-efficient compact cars in the 1960s and 1970s. The initial reaction of the Big Three was to assume Americans would never buy them because they liked big cars. Then gasoline prices rose, and the Organization of the Petroleum Exporting Countries imposed an oil embargo. Detroit kept making big cars, and inevitably the U.S. auto industry took a hit".
Ann: Financial Report for 30 June 2018, page-36
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