Japan is worried. Electric cars threaten their biggest and most profitable industry.
- Countries like France and Britain plan to phase out IC (internal combustion or gas-powered) cars in favor of EVs (electric vehicles).
- Japan not only manufactures ICE cars, they produce parts for them–and electric cars use thousands of fewer parts than IC cars.
- China is positioning itself to dominate the production of EVs (electric vehicles) as it buys up supplies of lithium and cobalt, used in batteries, which are getting more powerful and cheaper.
- And, let’s not forget: Japan didn’t respond well to the change in the tech industry, once dominating the electronics world to watching Silicone Valley take over innovation while China moved in to manufacturing.
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