Polestar, the electric car manufacturer supported by the Chinese Geely Group, plans to continue growing in the United States despite tightened US restrictions and political uncertainties. The company is actively seeking new suppliers to circumvent the recently passed bans on Chinese software and components in electric vehicles.

CEO Michael Lohscheller confirmed that the USA remains an essential growth market for Polestar.

The U.S. government under President Donald Trump has recently passed a measure that bans the use of Chinese technologies in electric vehicles. This puts pressure on manufacturers such as Polestar, which rely heavily on Geely's technology platforms. However, Lohscheller emphasized that withdrawing from the market is not an option. "We should stay the course and wait to see what customers really want.

Polestar was spun off as an independent brand from Volvo, which has belonged to Geely since 2010. The company went public in 2022 but has since lost more than 90 percent of its market value. The high capital demand to scale the premium electric business strains the balance sheet. Volvo currently still holds 18 percent of the shares in Polestar, while Geely and its owner Eric Li jointly control 63 percent.

Analysts Question the Long-Term Future of Polestar in the USA.

In addition to regulatory challenges, Polestar faces the potential end of generous U.S. electric vehicle subsidies and looming global trade conflicts. Nevertheless, Lohscheller remains optimistic. Demand for the Polestar 3 and 4 models has increased by around 37 percent in the fourth quarter. "We have strong software-defined vehicle technologies – an advantage that currently only a few manufacturers like Tesla and Rivian have.

The CEO warned against overreacting to the political changes in the USA. The future of federal funding through the Inflation Reduction Act (IRA) is still uncertain despite President Trump's announcements. "There have been significant investments in the USA, we will see how this develops.