By Marie Mannes and David Shepardson
STOCKHOLM/WASHINGTON, June 25 (Reuters) - Polestar said on Thursday the Trump administration was forcing the electric-vehicle maker to stop selling vehicles in the United States beginning in the 2027 model year as Washington ramps up its crackdown on Chinese vehicles.
Shares of Polestar were down 6.3% on Thursday afternoon on the Nasdaq.
The U.S. Commerce Department did not grant Polestar authorization to sell cars under the Connected Vehicles Rule, which restricts the import and sale of cars with connected-vehicle technology linked to China beginning with the 2027 model year.
Bluetooth, Wi-Fi, cellular connectivity and some satellite communications technologies are covered under the rules based on national security concerns linked to the ability of vehicles to collect sensitive data on American owners.
STOCKHOLM/WASHINGTON, June 25 (Reuters) - Polestar said on Thursday the Trump administration was forcing the electric-vehicle maker to stop selling vehicles in the United States beginning in the 2027 model year as Washington ramps up its crackdown on Chinese vehicles.
Shares of Polestar were down 6.3% on Thursday afternoon on the Nasdaq.
The U.S. Commerce Department did not grant Polestar authorization to sell cars under the Connected Vehicles Rule, which restricts the import and sale of cars with connected-vehicle technology linked to China beginning with the 2027 model year.
Bluetooth, Wi-Fi, cellular connectivity and some satellite communications technologies are covered under the rules based on national security concerns linked to the ability of vehicles to collect sensitive data on American owners.
4 months ago
