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Performance Specialists Since 1963

Polestar IS coming to America

2019-03-07 - Megan Russell - Sales and Marketing IPD Volvo, WPD Parts and AVO Turboworld

Polestar IS coming to America
IPD Volvo is here to set the story straight again on some misconceptions in the car world. This time, it's the rumor that Polestar will not be selling their electric vehicle, the Polestar 2, because of impending Tariffs.
This story routes from an interview that Polestar CEO Thomas Ingenlath had with the Financial Times, where he was quoted as saying;
“The business case for bringing the car to the U.S. is highly dependent on the type of tariffs we have,"
As we always do, we saw the news and followed up with the best source of information on the subject we could, a press release from Polestar. They posted the follow up press release on their website on March 6th, 2019 stating the following;
"Contrary to recent news reports, Polestar will be launching the new Polestar 2 in the important US market, starting in California and Washington State.
The already-announced $63,000 USD guide price (before $7,500 federal incentive) for the Polestar 2 launch edition takes into account the tariffs as of 27 February 2019."
- Duncan Forrester, Polestar Public Relations and Communications, and John Paolo Canton, Polestar Public Relations and Communications, North America.
To continue with the interview with the CEO Thomas Ingenlath and Financial Times article, he stated;
The business case for bringing the car to the U.S. is highly dependent on the type of tariffs we have, high tariffs would make the car too expensive.
It wouldn’t make sense to offer the car for a ridiculous price.
Polestar would look to expand into other markets, most likely untapped European countries such as Switzerland or Austria, to compensate,"
Polestar is creating it's Electric Vehicles (EV) in China, which happens to be one of the largest countries to provide production for EV's. However, due to the trade war between the US and China, the price to import any Chinese made goods, especially vehicles, has skyrocketed. Companies and customers will be feeling the affect of the tariffs the worst. A tariff on $250 Billion of Chinese goods went into effect on January 1, 2019.
Without reading further into the article and hype, it is fair to say that a quote out of context was the spark that caused a fire of controversy. This led to Polestar making the impromptu press release, as to set the story straight on their end as well, and we are glad that they did.
While we are happy to hear that Polestar is going to be released in the states- we are also concerned about many other car manufacturers, especially EV manufacturers, who may choose not to release their cars into our market due to Tariffs.
What is your opinion on the hesitation for companies like Polestar and importing their product into the states over tariffs, EPA restrictions or taxes?


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