It's simple: China has been taking BEVs seriously for 20+ years and US companies (and govt) simply haven't, so China has the better product. Once BYD etc sets up factories in Mexico, the BEV market is theirs and nobody will want to pay twice the price for GM's inferior crap. It makes much more sense for them to squeeze what they can from a declining ICE market than to spend decades of losses trying to catch up to The King.