Trump admin bars Polestar from selling EVs in US; Geely shares under pressure

Key Facts

1Polestar, owned by Chinese automotive giant Geely, said the US Department of Commerce refused to authorize it to sell its new EVs in the US market.

In a move reflecting escalating US-China trade tensions, Polestar, owned by Chinese automotive giant Geely, announced that the US Department of Commerce has denied authorization to sell its new electric vehicles in the American market. The decision, reported by TechCrunch, is part of the Trump administration's policy targeting Chinese-linked companies, cutting off Polestar from one of the world's largest EV markets.

The ban comes amid fierce global competition in the EV sector, with Chinese firms like BYD and NIO racing to expand into Western markets. For Geely, listed in Hong Kong under ticker 0175.HK, losing access to the US market deals a blow to its expansion strategy. Per market data, Geely shares closed at HK$18.59 on June 18, 2026, trading in a range of HK$18.36–HK$19.05, reflecting cautious investor sentiment.

Investors are watching for further regulatory moves, including potential broader tariffs on Chinese-made vehicles. The market also awaits Geely's second-quarter earnings, which could clarify the financial impact of these restrictions. Technically, Geely stock remains below the HK$19 level, and a break below the June 18 low of HK$18.36 could test further downside if regulatory pressures persist.