I mean... kind of.
I am not concerned about the random surveillance tech built in to my car. To me that is a red herring: it sounds plausible, but does it matter whether it is Chinese or American spyware in my car?
He is right that China subsidizes entire industries to become rapidly and wildly successful. China does this in ways that we cannot compete with: not by cutting a fat check to a single manufacturer, but by providing a favorable environment for the entire industry to succeed -no matter the human or environmental harm caused. We cannot afford to give up our manufacturing industry to China by buying their (better and cheaper) cars... just to face a rug-pull when we become dependent on them.
This does not mean we (as a nation) are best served by locking them out of our market completely. If we do not adapt how we do business, we will never be able to compete. We will condemn ourselves to subsisting on outdated rotting equipment. We need to make better cars, cheaper, ourselves. We need to find a way to do that without shooting ourselves in the foot -socially, economically, or environmentally.