To all those who dismiss the Seagull because it's small and cheap, remember one thing: making inexpensive cars is much, much, harder than making luxury cars. The lower your gross margins the fewer mistakes you can make. It's a miracle of manufacturing that cars can be made at this price point at all (yes, there are subsidies but European and American carmakers get subsidized too).

BYD, NIO and Xiaomi make luxury cars too, at very attractive prices.

Musk is right when he says Chinese carmakers will "pretty much demolish most other companies in the world".