President Biden this week tried to make up for the lost Trump era by accelerating the US ability to lead the electric vehicle market, but like the hare in Aesop’s story of the “tortoise and the hare,” while he can certainly accelerate he may be too late to catch China before the finishing line. The problem with the tortoise and hare analogy is that in this instance China has transformed from an automaking tortoise to a rapidly running hare, and it is the slow, sleepy tortoise in the guise of the US car industry which fell asleep for the winter and is now trying to catch up. Interestingly Biden made his announcements without the accompaniment of USA’s only hare in…