Investor and co-founder of Ripple Labs, Chris Larsen, thinks that California should allow the sale of low-cost EVs from China in the state for low-income people to help make vehicle ownership accessible.
$10,000 BYD Seagull in California?
During an appearance on the podcast “On with Kara Swisher” on Monday, Larsen argued against not allowing low-cost EVs made by Chinese automakers like BYD Co. Ltd. (OTC:BYDDY) (OTC:BYDDF) into the U.S. market.
“The BYD Seagull, $10,000 car, fabulous car,” Larsen said. “We should be letting that into California at least for our low-income folks,” he said, pointing to high gas prices in the state as the Iran war continues. He also pointed to the California tax levied on gas, which is roughly 70 cents a gallon.
“That’s the most regressive tax in the world,” he said. “That’s hurting the guy that can’t afford to live in Silicon Valley adding “Let him buy a Chinese BYD Seagull.”
