The Thing about electric cars is at least threefold…
First, the drivetrain. Legacy carmakers are already ahead or closing the Gap. Its mostly Standard hard engineering.
Seconds: battery. It is the Most expensive Hardware component. While VW, Stellantis and US legacy Starts Bildung battery plants, it is way cheaper in China to source the battery modules from CATL, the industry Leader. Subsidized in China and for Chinese manufacturers.
Third: Software and Infotainment. Legacy Cars suck at this, but its the Most important Factor, at least in China itself.
Fourth: the Combination of everything in an underlying Platform. Here, legacy struggles too,but they are not that far behind (and Tesla ahead). The Problem ist, Chinas manufacturers are, again, heavily subsidized in developement of These platforms.