Adoption curves can change faster from geopolitics than from product innovation. Tension around the Strait of Hormuz has pushed oil prices up at historic rates. That narrow passage carries a significant share of the world’s oil supply. When flows are threatened or restricted, prices react quickly. And when fuel prices jump, human behavior follows. In China, EV adoption was already strong. Now it’s accelerating further. In Europe, the same pattern is plainly visible. Higher fuel costs make the...