Polestar is caught in the middle of an international trade war. Growing competition from Tesla and Chinese rivals and the slowdown of the global EV market are not great for business. Even worse are the gigantic taxes set to be imposed on Polestar’s entire cohort of Chinese-manufactured cars. The US government will raise tariffs on electric vehicles coming from China from 25 percent to 100 percent, and in Europe, the threat of a 38 percent hike in taxes also looms from July 4. In May, China suggested that it will retaliate with a 25 percent tariff hike on large-engine cars should the US
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