Ban on Chinese tech so broad, US-made cars would be blocked, Polestar says

October 29, 2024:

Polestar has more than a few issues with the proposed rule, according to its public comment. For one, the definition is too broad and “creates crippling uncertainty for businesses.” A better-defined list would be helpful here, it says.

Polestar also says that “if a large portion of manufacturing or software development is occurring outside of the country of a foreign adversary, mere ownership should not be the determinative factor for applying the various prohibitions within the Proposed Rule.” Polestar is a US-organized company and a subsidiary of a UK publicly limited company that is listed on the NASDAQ exchange in New York. Its HQ is in Sweden, and seven out of 10 board members are from Europe or the USA. It builds Polestar 3 SUVs in South Carolina and will build the Polestar 4 in South Korea from next year. In fact, out of 2,800 employees, only 280 are based in China, Polestar says.

With the company’s “key decision-makers” being in Sweden, there is little reason to believe the national security concerns apply here, the company says, saying that the US Commerce Department should consider whether it has gone too far.

Polestar may be the most affected automaker by the new rule, but it is not the only one. Last month, the Commerce Department told Ford and General Motors that imports of the Lincoln Nautilus and Buick Envision—both of which are made in China—would also have to cease under the new rule.

Source link

tags

Afghanistan Africa Albania Algeria Andorra Angola Antigua and Barbuda Argentina Armenia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Benin Bolivia Bosnia and Herzegovina Botswana Brazil Bulgaria Burkina Faso Burundi Cambodia Cameroon Canada Cape Verde Central African Republic Chad Chile China Colombia Costa Rica Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic East Timor Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Fiji Finland France French Polynesia Gabon Gambia Georgia Germany Ghana Greece Grenada Guam Guatemala Guinea Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Israel Italy Jamaica Japan Jordan Kazakhstan Kenya Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libya Liechtenstein Lithuania Luxembourg Madagascar Malawi Malaysia Maldives Mali Malta Mauritania Mauritius Mexico Moldova Monaco Mongolia Montenegro Morocco Mozambique Myanmar Namibia Nepal Netherlands New Zealand Nicaragua Niger Nigeria North Korea North Macedonia Northern Cyprus Norway Oman Pakistan Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Republic of the Congo Romania Russia Rwanda Saint Lucia Samoa San Marino Saudi Arabia Senegal Serbia Sierra Leone Singapore Slovakia Slovenia Somalia South Korea South Sudan Spain Sri Lanka Sudan Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Togo Tonga Tunisia Turkey Turkmenistan Uganda UK Ukraine United Arab Emirates Uruguay USA Uzbekistan Vatican City Venezuela Vietnam Western Sahara Yemen Zambia Zimbabwe