In contrast to Thucydides, I'm going to take an optimistic view of the technology. I honestly believe that we are only waiting for an Edison to come around and solve the engineering and chemistry issues to make it possible.
That being said, there are some issues with your 5-step process.
Early adoption in Municipal Transport
First is that adoption on Cats and Deeres is unlikely. They sell equipment to the most conservative buyers, and their equipment routinely lasts decades. Turnover is low, they make a lot of money from life-cycle maintenance and attachments, etc. A better option for initial adopters is city governments who would be easily convinced to do something for the environment that makes absolutely no sense economically. City buses and particularly commuter rails would make a lot of sense.
Spread to commercial rail
Bostom's MBTA, Chicago's Metra, SF's Caltrain, NY's New Jersey Transit, etc., all use diesel or diesel-electric rolling stock. Convincing them to covert to efficient batteries is important because that give a direct lead-in is important to commercialization. If battery powered commuter rail is successful, commercial and freight rail won't be far behind. Especially given that these are often nationalized or semi-nationalized in Europe, the changeover to battery could happen quickly here. Now with a worldwide commercial adoption of the technology, engineering improvements should come quickly and passenger transit won't be far behind. Also note, that if bus adoption is successful, the logical next step for large applications is trucking.
Oil price drops will make oil power plants successful
The other beef is with the oil companies collapsing. You put that in there almost vindictively, but it won't happen. Why not? Because if a billion car-drivers stop buying oil, the price goes way down, but the price of electricity goes way up (gotta charge those batteries somehow). Now oil fired power plants are much cheaper to operate since the competing demand for oil is almost gone. This is actually another net positive for the environment, because if you convert all coal plants to oil plants, CO$_2$ emission would go down significantly.
Energy companies will get into batteries when the time is right
Lastly, oil companies are some of the biggest and richest on the earth. If lithium air batteries are successfully demonstrated on commercial freight train, who do you think is going to fund the mass production of batteries, and pay for the research to make them automobile size? Elon Musk might be rich, but he's a beggar compared to ExxonMobil, Shell and BP, which each take in 20 times more in cash every year than Musk has in market valued wealth.