Probably built to unacceptably low safety standards for the US market, at lower labor prices and/or import tariffs than a car built for the US market. I'm not saying they couldn't build a similar car for far less than $35k, but it would probably cost more than $5k.
Either way: nothing about this is a model 3 competitor. They're in entirely different segments.
Either way: nothing about this is a model 3 competitor. They're in entirely different segments.