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The ‘Tesla Effect’ is starting to extend from legacy carmakers to the oil industry

Back in February, self-made billionaire Don Gao from China mentioned that the “Tesla Effect”continues to grow even in markets beyond the California-based company’s reach. Gao, who owns Positec – a maker of power equipment – uses lithium-ion batteries for his company’s products, and they are steadily becoming a potent rival for heavyweight brands like Black & Decker. The billionaire entrepreneur noted that Tesla’s commitment to battery tech is spilling over into other industries, to the point where consumers’ perception of battery-powered devices is now changing.



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