Greg Jackson argues that incumbency is hindering innovation and growth in Europe, while China continues accelerating electrification without being constrained by traditional industries. Chinese electric vehicles now account for 14.6% of the European market, up from 9.6% a year earlier, despite combined import duties of up to 45%. Founded in 2015, Octopus Energy became the United Kingdom’s largest energy provider by using technology to integrate electric vehicles, solar panels and batteries more efficiently. Battery costs have fallen tenfold in 15 years, solar panel costs have dropped two-hundredfold in 40 years, and wind turbine prices have declined by two-thirds in 20 years, Feederman against much slower progress in technologies based on hydrocarbons.
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