{"text":[[{"start":8.5,"text":"The boss of Sweden’s Polestar has declared the end of globalisation for auto groups following a US government decision to bar future sales of its electric vehicles."}],[{"start":17.6,"text":"“I think it just accelerates the regionalisation everywhere, not only for us but for the entire industry,” Michael Lohscheller, chief executive, said in an interview on Thursday. “The days are over when everything was global.”"}],[{"start":31.700000000000003,"text":"The comments came after Polestar, which is majority owned by China’s Geely, was barred from selling new EVs in the US from next year as it was denied authorisation required under US connected vehicle rules designed to restrict Chinese technology."}],[{"start":47.400000000000006,"text":"The US commerce department’s decision in late June had sent shockwaves across American dealerships and the broader automotive industry as uncertainty spread to other brands that have Chinese shareholders such as Mercedes-Benz and Lotus."}],[{"start":61.50000000000001,"text":"Dealers said such a US sales ban for a European carmaker was unprecedented. The decision also caught the industry off guard since Volvo Cars, another Geely-owned brand, recently received regulatory approval to continue importing and selling its connected vehicles in the US. "}],[{"start":80.2,"text":"Lohscheller said the company would not appeal against the US decision and focus instead on expanding sales in Europe and newer markets such as South Korea and Australia. “The US decision is something we have to accept,” he added."}],[{"start":92.55,"text":"“It really just doesn’t make any sense. This has never happened before,” said Matthew Haiken, president of Prestige Collection Auto Group, which runs Polestar and Volvo Cars dealerships in New Jersey."}],[{"start":104.89999999999999,"text":"“There was a road to compliance but . . . how does this brand get a red light and other brands get green lights?” "}],[{"start":112.3,"text":"Lohscheller did not disclose details of Polestar’s discussions with the US government but described the decision as “pretty straightforward”."}],[{"start":119.85,"text":"In a separate interview, Volvo Cars chief executive Håkan Samuelsson said its approval was granted after it demonstrated to US authorities how the data for its connected vehicles was handled in compliance with US legislation. Chinese-owned carmakers are subject to special scrutiny to ensure that their data do not go to China."}],[{"start":139,"text":"“I’ve never been especially nervous about this because I think we have very strong facts to show that we have been in the US for 70 years and even if we have a new ownership, we are a European carmaker from a technology point of view,” Samuelsson said in comments before the Polestar decision was announced. "}],[{"start":156,"text":"Polestar, which has roughly 100 employees and 35 dealers in the US, said it would continue to sell existing stock of Polestar 3 and 4 models. Since early July, the company has been carrying out heavy discounts to clear its US inventory, while customers have rushed in to get hold of the remaining EVs."}],[{"start":176.45,"text":"The company had been in the process of shifting all production of Polestar 3 from China to Volvo Cars’ plant in South Carolina, while Polestar 4 is made in South Korea. "}],[{"start":187,"text":"Polestar’s performance in the US had already been hit by the cancellation of EV credits, with sales in the first half declining 28 per cent year on year to 1,861 units, according to figures released on Thursday."}],[{"start":201,"text":"Europe accounted for nearly 80 per cent of the group’s total sales, which were almost flat at 30,423 units. "}],[{"start":209.1,"text":"When asked if Polestar needed to diversify its geographical footprint considering the influx of newer Chinese brands into Europe, Lohscheller said: “It’s a very big EV market globally and there are still so many markets where we can grow.”"}],[{"start":229.75,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1783646592_8974.mp3"}