 cheap EVs. It appears. The Chinese company BYD currently has an electric car that is a hatchback, it's stylish, angular styling, two-tone dashboard, seagull wing dashboard with six airbags. There's a 10-inch rotating touchscreen with the infotainment system. And it's a pretty car and runs pretty well. And the stunning thing about this car is that it sells for under $10,000, $9,698. Now, Chinese cars have not yet made it to the United States. BYD is not yet selling cars like this in the United States. But what if they start doing it? The average price on an American electric vehicle right now is $50,000. The Chinese EV would be 9,700, even with 100% tariff. It'll still be less than half the price of an American EV. China today, BYD today is the largest producer of electric vehicles. It's a past Tesla. And generally Chinese companies are going to dominate the electric vehicle space to some extent, like the Japanese did in terms of internal combustion engines in the 70s and 80s. In China, the average price of an EV is $30,000. Again, in the US, it's over $50,000. So how is they getting competition? And this really puts, I think in context, the union's demands for higher wages last year and the victories that they gained, this is going to make things much more difficult, much more difficult. Now, it could very well be that Trump or even Biden just banned Chinese cars from the US. But then they're not going to be chasing these cars. They're going to be Mexican cars or Argentinian cars or, I don't know, somebody else's cars that are imported here using the Chinese technology that drove the price down to $10,000. Banning Chinese cars is convenient when you can't compete. But the reality is, I mean, multiple fold, right? The reality is the car prices are going to come down dramatically. It is so much easier and cheaper to build an electric car than an internal combustion car. The differences are huge. Maintenance is completely different. They're just fewer moving parts. The industry is going to completely be changed by the introduction of cheap electric cars, whether they come from China or somewhere else. Now, Americans generally are resisting electric cars, but yeah, anybody would be resisting an electric car at $50,000, but a 10, 20, maybe a second car, maybe they can try it out. The industry is in for a real shakeup. In Europe, they know this. They're really incredibly afraid. European automakers are desperate. It's not clear how they will survive. So it's going to be interesting. Now, of course, this is how our standard living quality of life goes up. Imagine if you could get a really, really good car that serves its function, gets you from point A to point B. Maybe it has a slightly lower lifespan than the car you have right now, but you might be changing your cars every three years anyway. And imagine you could get that car for under $10,000. Well, then you have a lot, you just saved a lot of money. And when you save that money, you're going to use it to invest, to save, to consume other goods. And that's going to drive innovation. That's going to drive growth. That's going to drive productivity, if it's allowed, elsewhere in the economy. So prices are coming down. EVs will probably be the future. I've driven in a few that really nice, that people tell me they're nice to drive. They have incredible acceleration. But this is going to be a major restructuring and shake out. And it's going to require people to, well, it won't require people. It's going to mean better. When you get something cheaper, that's just as good. Your life is better because you have more money for other things. It's going to increase the quality of life of Americans. And yet, the politicians, the populists, the voters, generally, people are going to go nuts. They're going to go berserk over this. And politicians are going to be hugely incentivized to ban the importation of cheap cars and keep us paying high prices for cars, as the rest of the world benefits from these cheap cars. And their standard of living rises while ours gets stuck. All right, so EVs. Now, the challenge, of course, with EVs, and this is why I think it's not going to happen quickly, is where's the electricity going to come from? We have a grid that cannot cope with everybody in the United States starting to drive, starting to drive an electric car. We have a grid that can barely deal with the energy load we have on it today. And there's no emphasis on upgrading the grid and increasing the production of energy because everybody is too obsessed and too worried about it and too just single-minded about climate change and reducing energy consumption or energy production, never mind consumption, reducing production of electricity. What we need is a lot more production of electricity. What we need is a lot more natural gas-powered plants. To produce that electricity, we have tons of natural gas. What we need is more nuclear power, geothermal power, whatever. What we don't need is lots of maybe fusion. We talked about the story about fusion, maybe fusion power. What we don't need is a massive investment in solar and wind that are just unreliable forms of energy. And the more people start using electric cars, the more this will become important for their daily lives.