250USD? No way.
35USD absolute max to manufacture. In China?
105 retail seems to be the sweet spot for a quality portable to really succeed.
Not sure where you're getting your numbers ... I tried all kinds of portable vapes and the first and only one I really like so far is the Solo which is $229 ... from my research and experience $200-$300 seems to be the magic number for portable vapes.
And the PAX is not made in China based on the research I've done it's made in the US by a couple guys from Stanford.