Ripple cofounder urges California to let low-income drivers buy cheap Chinese EVs
Chris Larsen, Ripple’s cofounder, suggested that California permit income-qualified buyers to purchase low-priced Chinese electric cars such as BYD’s $10,000 Seagull.
In a recent interview, Ripple cofounder and executive chairman Chris Larsen proposed that California open its market to certain Chinese-made electric vehicles for buyers who meet income qualifications. He cited the BYD Seagull, a $10,000 model, as a potential solution to the state’s soaring new-car prices, which have stayed above $50,000. Larsen also condemned California’s gasoline excise tax as the “most regressive tax in the world,” arguing it hurts low-income residents.
His suggestion runs counter to a letter from the Alliance for Automotive Innovation, which urges Congress to ban Chinese vehicles, software and hardware on economic and national-security grounds. While Larsen did not receive a comment, he emphasized that any such program would need strict income testing to be viable.
Why it matters
The proposal could reshape affordable transportation options and influence California’s stance on Chinese car imports.
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