Old, traditional car companies just can't keep up with how fast electric vehicle (EV) tech is changing, especially with what's coming out of China. They're stuck in the past, where it takes them 5 to 10 years to plan, design, and release new car models. Even then, they often just tweak an old car's design instead of making something completely new.

But in China, there's a ton of competition among EV makers. Many of these companies actually started out making electronics, so they're used to improving things super fast, year after year. This means they're constantly releasing new and better EVs, while the older car companies are still taking their sweet time.