History shows again and again that where there is a major technological transformation in an industry, some or all of the incumbents fail to make the change, an

History shows again and again that where there is a major technological transformation in an industry, some or all of the incumbents fail to make the change, and some of the major powers afterwards are new companies. Also, Tesla is getting pretty good at manufacturing, and steadily getting better. It is turning out many more cars than it did a few years ago, and has good profit margins. It has also learned to build factories and get them into production much faster than any of the old companies can. And no, it is not a commodity race-to-the-bottom when the technology is continually improving at a rapid pace. Someday it will be, but that is decades from now. So instead of trying to figure out why Toyota will clobber Tesla, you should be trying to guess which companies today are doing a good job of positioning themselves for the big change, and which are not. Among the old companies, VW is doing a great job, Toyota is so far so-so. You know, that sort of "we are the biggest so we can't fail" mentality is the key reason companies fail to make big technology transitions.