Stock Market News

Biden proposal would ‘effectively prohibit’ sale of Polestar cars in US, automaker says

2024.10.28 19:36

© Reuters. FILE PHOTO: A Polestar logo is seen at the New York International Auto Show Press Preview, in Manhattan, New York City, U.S., March 27, 2024. REUTERS/David Dee Delgado/File Photo

WASHINGTON (Reuters) – Polestar (NASDAQ:) said on Monday that a proposed Biden administration rule to bar the use of Chinese vehicle hardware and software would “effectively prohibit” the automaker from selling vehicles in the United States.

The Swedish automaker, majority-owned by China’s Geely, said in comments filed with the Commerce Department that a proposed new rule prohibiting Chinese connected vehicles on American roads due to national security concerns would bar the sale of vehicles Polestar is building in South Carolina as well as those produced in China.



Source link

Related Articles

Back to top button