I own a lot of Plug Power, which might seem ironic to some here...

I own a lot of Plug Power, which might seem ironic to some here as they are replacing battery electric material handling vehicles with hydrogen fuel cell (HFC) vehicles. But to clarify, I'm not invested in Lynas because I believe in BEVs, but because I believe in electric drive and permanent magnets.

Plug Power sells fleets of forklifts mostly and also provides all necessary on-site hydrogen refueling infrastructure, which btw takes up less space than batteries and their charging infrastructure. A number of big players are adopting their products, like Amazon most recently. (HFC vehicles also require less time to fuel, meaning less time down. And their power doesn't fade as BEVs are wont to do.)

A city is just a big warehouse, so city fleets will be the early adopters of EV and HFC vehicles, if only because they have simplified infrastructural requirements (even possibly a single large site or two). Either way, fleet transition to electric drive is going to happen quickly and eventually go to completion. If transport is any significant part of your business model, you can't remain competitive with ICEs or mild hybrids even.

Mass adoption of either battery or HFC personal cars and trucks will require a much more extensive infrastructure be available out on the open road - infrastructure will be the limiting reagent, so to speak, on the assumption that there'll be no 5X battery breakthrough anytime soon (there won't be).