Polestar Starts Production In US To Avoid High Tariffs Imposed On China-Made EVs
Portfolio Pulse from Anan Ashraf
Polestar Automotive (NASDAQ:PSNY) has started production of its Polestar 3 SUV in South Carolina to avoid high tariffs on China-made EVs. This move aims to strengthen its market presence in the U.S. and Europe. The company plans to expand its manufacturing to South Korea by mid-2025 and aims to have five EV models by 2026.
August 15, 2024 | 7:29 am
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Polestar Automotive has started production of its Polestar 3 SUV in South Carolina to avoid high tariffs on China-made EVs. This strategic move is expected to boost its market presence in the U.S. and Europe.
Starting production in the U.S. allows Polestar to avoid tariffs, making its vehicles more competitively priced in the U.S. and Europe. This move is likely to positively impact its revenues and stock price in the short term.
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