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US Bans Geely Holding's Polestar from Selling New Cars in US
2026-06-26 14:14:16 Polestar, controlled by Zhejiang Geely Holding, will exit the US market after the US Department of Commerce banned the company from selling new vehicles in the country. Polestar will continue to sell its existing inventory in the US and will maintain after-sales service. The US previously announced a ban on connected new vehicles using Chinese software. Polestar said it had attempted to configure its programs in accordance with the new regulations and sought authorization from the US Department of Commerce to continue selling vehicles in the US, but its request was rejected by the US government. However, Volvo Cars, which is also owned by Geely Holding, received authorization in May this year to continue operating in the US. Polestar said it will continue to focus on fortifying its business in Europe, which currently accounts for about 80% of its global total sales. ~ AASTOCKS Financial News Website: www.aastocks.com | |