The “retreat” framing is too US-centric. I’m in Sweden and European OEMs aren’t retreating — BMW Neue Klasse just launched, Renault 5 is a hit, Skoda Enyaq/Elroq are everywhere. These are competitive new platforms shipping right now.

And the Iran/Hormuz situation actually strengthens the case for EVs, not weakens it. Swedish electricity is almost entirely hydro, nuclear and wind. When oil spikes, petrol drivers feel it immediately. EV drivers barely notice. Pulling back from electrification right now is doing exactly the wrong thing at the wrong time.