Ripple cofounder says California should allow Chinese EVs for low-income buyers: 'We're never going to make that stuff'
Ripple cofounder Chris Larsen suggests that California should allow the import of affordable Chinese electric vehicles for low-income residents. He argues this would address high vehicle and gas costs, despite opposition from US automakers concerned about national security and trade.
Why it matters
It highlights the tension between consumer affordability and protectionist trade policies regarding the burgeoning EV market.
Car and gas prices keep rising. Chris Larsen says California should let in some Chinese EVs to help. Bloomberg/Getty Images Cars are expensive. Gas is expensive (especially in California). Chris Larsen, Ripple's cofounder, has a solution: bring in the Chinese EVs. Regulators in Washington are uneasy about Chinese vehicle software on US roads. Chris Larsen thinks California's low-income drivers should have access to a car they can't legally buy today . During an interview on the podcast "On with Kara Swisher," Larsen, the cofounder and executive chairman of Ripple, said that California should open its market to some Chinese-made electric cars. The sales, he said, should go to income-qualified buyers. " The BYD Seagull , $10,000 car, fabulous car," he said. "We should be letting that into California, at least for our low-income folks."
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