$2.4bn over 4 companies + panasonic and 12 projects isn't a huge amount, relatively speaking. And I imagine Hydrogen is also still being pushed.

EVERYONE knew China was coming, it was long clear that China saw the changeover from ICE to EV as an opportunity to become a dominant player.

Chinese companies are setting up local brands for different countries: https://www.bbc.com/news/articles/c74jgk1kw87o and making cars that appeal to western tastes.

Japan's main problem is that they are stubborn - the Koreans and Chinese bought in european designers and made cars look to Western tastes. Japanese cars look like Japanese cars.