That's basically happening indeed. Companies like Stellantis and VW are already partnering with Chinese companies and especially in the EU there are now a growing number of options on the market that are interesting for people with smaller budgets.

Stellantis (Fiat, Citroen, Opel, etc.) is launching lots of interesting new models in the EU lately. The new Citroen e-c3 is supposed to be priced around 23000 euro. That's a small family car, not a crazy amount of range but usable. The citroen ami, is only about 7000 euro and more of a glorified golf cart than a car. But for 7-8K it is pretty awesome and pretty handy for getting around town. Opel (also Stellantis) has a similar car called the Rocks-e that I saw in Berlin on the streets a few weeks ago. I think it sells for a similar price. It looks like more or less the same product with some minor differences.

The whole notion that an electric car is just a battery with some wheels and not much more means that there are going to be a lot of companies racing to the bottom in terms of cost and form factors. The main constraint here is price and availability of batteries and other components. That market is growing and there's not shortage of demand for any of that.