Electric vehicle company Polestar has started production for the Polestar 3 in South Carolina. Polestar 3 cars from this location are intended for consumers in the US and Europe. The Volvo-owned company’s first SUV debuted in 2023, but the shift to a US production facility will help it to avoid huge tariffs for importing EVs from its facility in Chengdu, China.
“Manufacturing Polestar 3 in the USA is a crucial step for us,” Polestar CEO Thomas Ingenlath said. “Now we offer customers in America an electric SUV that is built in America. Exporting the South Carolina produced Polestar 3 to Europe will strengthen our business on a broader scope.”
Earlier this year, the Biden administration a sizable increase on the costs for imports of electric vehicles from China. The White House move to quadruple the tariff on Chinese-made EVs was meant to “protect American manufacturers.” Even before that change was announced, we’d that Polestar 3 production would be shifted to South Carolina. The , on the other hand, will be manufactured at the company’s plant in South Korea when production begins in mid-2025.
MSI has two new versions of the MSI Claw after the original landed with a…
Salesforce’s stock rises after a revenue beat that could signal healthy spending trends in the…
Trend shifted down, but sensitivity up. Figure 1: Log of ratio of vehicle miles traveled…
Follow Frank on X. Bitcoin is its own network state, to borrow a term from…
Despite Mark Zuckerberg hailing Meta’s Llama AI model as among the best in tech, his…
Intel Corp.’s search for a new chief executive officer will focus heavily on outsiders, with…