I heard from a friend he paid around $12k AUD for the cheapest new ICE car, Holden brand, which I guess proves the west can compete if they try?

Edit: Holden Spark.

The Holden Spark appears to just be a re-badge of a Chevrolet Spark, which was made by their South Korean subsidiary, and was discontinued three years ago [0].

[0]: https://en.wikipedia.org/wiki/Chevrolet_Spark#Discontinuatio...

New? You haven't been able to buy a new Holden since '21.

Well the best comparison are the Teslas which are made in China (all Teslas sold in Australia today) vs Teslas made in the USA.

For the model 3 it’s USD$8000 cheaper like for like.