Ripple Cofounder Urges California To Import $10K Chinese Cars Just For The Poor
KEY POINTS
- •Chris Larsen, Ripple’s cofounder, proposed allowing income-qualified Californians to buy affordable Chinese electric cars like the $10,000 BYD Seagull.
- •The Alliance for Automotive Innovation urged Congress in September 2026 to enact a total ban on Chinese vehicles and their software citing national security issues.
- •California’s high gas prices—exacerbated by a $0.60 excise tax per gallon—combined with rising vehicle costs, form the backdrop for Larsen’s affordability arguments.
Chris Larsen, known for cofounding Ripple—the company putting crypto in your wallet—has declared a new crusade: let California's low-income drivers buy Chinese electric cars like the $10,000 BYD Seagull. Yes, $10,000. In a state where new cars average $50K and gas taxes add 60 cents a gallon just for fun, Larsen argues that subsidized Chinese EVs are a blessing not a security nightmare. Meanwhile, the American car industry’s 'Alliance for Automotive Innovation' is lobbying Congress to ban these imports ASAP, fearing economic ruin and espionage through car software. Larsen’s solution? Income-tested access to what he calls a 'fabulous car' that Silicon Valley is definitely not building any time soon. Because if there’s anything better than owning a car, it’s owning a car that possibly hacks you but costs a fraction of a Tesla.
Share the Story
(1 of 3)When America can’t afford cars, bring in the $10K Chinese EVs. Silicon Valley’s solution to high prices: make the poor drive economic security risks. We’re all just terrible drivers of our own priorities.
Confused alliance of US automakers wants to block cheap Chinese cars to 'protect' us from software spying, because who needs affordable wheels when you have paranoia?
California’s solution to $50K cars and 60-cent gas taxes? Let the poor have ten grand Chinese birds disguised as electric cars. Budget policy or sci-fi plot?
Source: Businessinsider | Published: 9/8/2026 | Author: Ben Shimkus
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