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Polestar: US Proposed Regulations May Halt Car Sales in US
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Polestar, a subsidiary of the parent company of GEELY AUTO (00175.HK), stated that the US government's proposed ban on the use of Chinese automotive hardware and software effectively prohibits Polestar from selling cars in the US, including those manufactured in the US. The US' ban on Chinese connected vehicles operating on American roads due to national security concerns would impact the sales of Polestar cars made in South Carolina and China, Polestar indicated. Given its substantial investments in the US, Polestar added that the US Department of Commerce should consider whether the new regulations effectively shut down a legitimately established American company and whether they appropriately address the alleged national security concerns. AAStocks Financial News |
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