Dubin Cynthia S purchased $26K of PSNY

Polestar said it will stop selling new cars in the US after the 2027 model year, following a US Commerce Bureau of Industry and Security decision tied to Chinese ownership and technology. Polestar will not appeal and will shift investment toward Europe. It sold 5,747 vehicles in the US in 2023. The company is offering discounts up to $25,000 on Polestar 3 and 4 while working with dealers.

Polestar said it will stop selling new cars in the US from model year 2027 after the US Department of Commerce Bureau of Industry and Security denied approval under the Connected Vehicle Rule. Polestar expects the US was under 10% of global volume, about 5,000 to 6,000 cars. It will focus on Europe, Canada, South Korea and Australia, and continue support for existing owners.

U.S. Senate Commerce Committee plans a July 15 vote on S. 4429, the Connected Vehicle Security Act of 2026, introduced by Sens. Bernie Moreno and Elissa Slotkin. The bill would expand BIS’s January 2025 connected-vehicle rule restricting China- or Russia-linked vehicles, software, and hardware, with software limits from 2027 and hardware from 2030. Polestar said BIS authorization was not granted, so it will stop new US sales from model year 2027.

Polestar reported a 4% quarterly sales-volume decline after the US Commerce Department denied authorization under the Connected Vehicles Rule, barring Polestar from the US market from the 2027 model year. Q2 sales fell to 17,296 cars from 18,026 a year earlier. Polestar said it will sell existing inventory and second-hand cars. Polestar is majority-owned by Geely.

Polestar Automotive (PSNY), majority-owned by Geely, said the Trump administration will bar U.S. sales of its EVs after the current model year due to prohibited Chinese connected technology, citing Biden-era rules. The article notes Europe generated ~78% of Q1 sales vs ~6% from the U.S. and mentions PSNY’s current price near $20.36.

Polestar said the US Commerce Department denied authorization to keep selling Polestar cars in the US under a connected-vehicle rule tied to Chinese-made technology. Polestar, majority-owned by Geely, will stop US sales starting with the 2027 model year, though it will sell existing stock and support customers. Volvo received authorization in March.