Key facts
- Polestar's second-quarter sales volumes decreased by 4% to 17,296 vehicles.
- The U.S. Commerce Department has banned Polestar from the U.S. market starting with the 2027 model year.
- The ban is due to the EV maker's connected-vehicle technology being tied to China.
- Polestar, majority-owned by China's Geely Holding, will continue to sell existing inventory in the U.S.
- The company is focusing on the European market, which accounted for 80% of its sales in the first half of the year.
Sweden's electric vehicle manufacturer Polestar reported a 4% decrease in quarterly sales volumes, selling 17,296 vehicles compared to 18,026 in the same period last year. This decline comes weeks after the U.S. Commerce Department banned the company from the U.S. market starting with the 2027 model year due to its ties with China. Polestar, which is majority-owned by China's Geely Holding, will continue to sell its existing Polestar 3 and Polestar 4 inventory in the U.S. and maintain access to its service network. The company has shifted its focus to the European market, which comprised 80% of its sales in the first half of the year, amid uncertain global EV demand and tariff pressures. Polestar CEO Michael Lohscheller indicated that customer deliveries for the Polestar 5 are set to begin and production for the Polestar 4 SUV has commenced, with initial deliveries expected in the fourth quarter.