Polestar says it will stop selling cars in the US
FILE - Polestar 4 in Oxford. (Polestar)
Polestar, the Chinese-owned Swedish electric vehicle company, will no longer sell its cars in the United States market.
Under the Connected Vehicles Rule, the U.S. Commerce Department stated that Polestar vehicles posed a national security risk.
The Connected Vehicles Rule restricts the import and sale of cars with connected-vehicle technology that can be linked to China. This restriction will begin with all 2027 models.
The rule, which was enacted under former President Joe Biden, states Bluetooth, Wi-Fi, cellular connectivity and some satellite communications technologies that come in many newer car models, pose a national security risk to American owners.
Big picture view:
A mere 6% of Polestar’s sales volumes come from the U.S. market.
The company makes the majority (78%) of its sales in Europe, according to Axios.
What's next:
Polestar plans to continue selling its Polestar 3 and Polestar 4 models in the U.S.
The Source: Information for this article was taken from reporting by Reuters and Axios. This story was reported from San Jose.