A century after Henry Ford and his Model T heralded the modern car industry, the stratospheric rise of electric car pioneer Elon Musk’s Tesla is signalling a significant turning point for that industry.

One hundred years ago the car industry was enabled by the emergence of a number of key supporting industries, such as oil, steel, aluminium, rubber and leather. It is therefore ironic that the rise of the electric car has become one of the existential threats to oil companies and that century-old car manufacturers have been left in the dust by failing to shed the combustion engines fast enough...

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