According to foreign media reports, Thomas Ingenlath, CEO of Polar Star Motors, is confused by the Biden administration’s significant increase in tariffs on Chinese electric vehicles.
He said: “A 100% tariff will definitely bring some volatility and unpredictability.
“, Last month, the U.S. government announced that the new tariff rate on electric vehicles produced in China and shipped to the United States would increase from 27.
5% to 102.
5% in 2024.
At the same time, China’s import tariffs on raw materials such as steel, aluminum and microchips will also increase.
Ingenlath admitted that Jixing’s initial production was relatively Chinese.
Although the company is headquartered in Sweden, it is controlled by China’s Zhejiang Geely Holding Group.
Currently, Polestar 2 pure electric midsize sedan and Polestar 4 midsize SUV are only produced in China.
Polestar 2.
Photo source: Polar Star Motors, but Ingenlath said that Polar Star Motors recognized its dependence on the Chinese market early on, so it launched a global production strategy three years ago.
Starting in the summer of 2024, Polar Star Motors will produce the Polestar 3 large SUV at its sister brand Volvo’s U.S. factory near Charleston, South Carolina.
In mid-2025, Polestar 4 will also be produced by Renault South Korea Motors in Busan, South Korea, and will be the first to be put into the North American market.
, Ingenlath believes that a more diversified production footprint will help Polar Star Automobile hedge the risk of the United States imposing tariffs on Chinese electric vehicle products.
In addition, if China imposes potential retaliatory tariffs on U.S. -made cars, Polar Star can also rely on production bases in other countries to avoid this risk.
Diversified production can also protect the polar star from the impact in the face of possible EU tariffs on Chinese electric vehicles.
Ingenlath admitted at a press conference for Polestar 3 and 4 in Spain: “Free trade is no longer easy.
This is not a problem unique to Gestar Motors or the industry.
I just hope that if free trade is no longer, we can at least trade fairly.
“, Ingenlath believes that an example of fair trade is that almost half of Polestar 3 produced in the United States will be exported.
, Ingenlath added: “These will be cars produced in the United States by American workers, and I hope this benefit and value creation will be recognized.
“, Ingenlath hopes to increase localized production in Europe, but this will take time and may have to wait until Polestar 7 is put into production around 2027 at the earliest.
Ingenlath admitted: “You can’t build a production line in one day.
This takes months or even years of preparation.
“, On May 31, Ingenlath also talked about tariff fluctuations in a video statement posted on the Polar Star Automobile website.
“The ability of polar star vehicles to adapt and leverage the global production footprint is an important difference.
“, Return to the first electric network home page>,.
