Greg Jackson, the founder and boss of Origin-backed energy retailer and tech platform Octopus, is one of Britain’s foremost techno-optimists. But even by his standards, he was sounding bullish this week. He’s just come back from what he called “the obligatory executive tour of China”.

On the trip, he learnt that China’s electric vehicle (EV) companies spend 7 to 11 per cent of their revenue on R&D. And he saw Chinese cities shedding smog and noise pollution as road traffic goes electric. “Forgive my language, but f--- me, right?” he told a room full of EV execs in London.