1997 was almost 30 years ago - that’s what I call decades! And hybrids are obviously a dead end for at least 15 years now. They were a nice stepping stone but nothing you can (or should) build your future on.
And: Yes, China did a concerted effort to push for emobility - while Europe, USA and Japan did everything to convince people that fossil fueled cars are the pinnacle of engineering and greater than everything.
Turns out: it’s not. And everyone with a basic understanding in physics could see through that for many years.
We can keep blaming China, cry sad tears for the dying oiltimers - or finally put everything we still have into renewable energies, climate friendly traveling, etc.
But I guess that won’t happen.
The next industry we can gut is already starting to breath quite heavy due to ever increasing kerosene costs: air travel My prognosis: We will fuck it up exactly the same way and complain in a few years that Boeing, Airbus and Embraer are losing market share like crazy against air planes from China and Korea..