The idea is to break Morale with the Light Chariot fire and Head Hurlers before a pitched battle begins - it is a very effective tactic against Infantry, though it might lose a bit of effectiveness if the enemy General has a lot of + Morale.
I've not encountered Elephants with my Britons yet, I used (Cavalry) Archers/Skirmishers against Carthage as the Scipii, so I'd assume Light Chariots will work.
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