Good morning. Familiar with the automotive brand Polestar? Not for long, at least if you’re American.
The U.S. Commerce Department has banned the Swedish electric automaker from selling its vehicles in the U.S. starting with the 2027 model year. Though the company is associated with Swedish sibling Volvo, which owns a minority stake, its largest shareholder—Hangzhou’s Geely—is Chinese, violating a Biden-era policy called the Connected Vehicle Rule.
(Volvo is also majority-owned by Geely, but it was able to secure a legacy exemption that upstart Polestar was not.)
Our condolences to the hardworking folks staffing the dozens of soon-to-be-shuttered Polestar dealerships across the U.S., though we hear Volvo’s hiring.
More tech news below. —Andrew Nusca
