Chris Larsen, the cofounder and executive chairman of Ripple, said California should allow some Chinese-made electric vehicles, including the $10,000 BYD Seagull, to be sold to income-qualified buyers. Speaking on the podcast "On with Kara Swisher," Larsen argued that cheaper EVs could improve vehicle affordability, contrasting with the Alliance for Automotive Innovation's recent call for Congress to ban Chinese vehicles, software and hardware. The trade group cited economic and national-security concerns linked to subsidized Chinese vehicles and connected technology. Cox Automotive data shows the average new-vehicle price has stayed above $50,000 since April, while tensions in the Strait of Hormuz have kept gas prices elevated. Larsen also criticized California's more than $0.60-per-gallon excise tax as disproportionately affecting lower-income drivers. He did not immediately respond to Business Insider's request for comment.