Polestar, the EV brand controlled by China’s Geely Holding Group, has decided to leave the U.S. market rather than appeal a federal restriction preventing it from selling future models in America, The Wall Street Journal reports.  The decision stems from national security concerns involving conne cted vehicle technology, including potential risks related to vehicle data collection and foreign access. Polestar says it doesn’t think an appeal would succeed and will instead focus investments on markets such as Europe. However, the move leaves U.S. dealers and customers facing uncertainty.  The company’s 32 American dealers invested heavily in showrooms, employee training and brand development, and many are frustrated that Polestar was denied approval while Volvo, which also has ownership ties to Geely, received authorization to continue operating. The exit could also affect existing Polestar owners, as the company is offering discounts of up to $25,000 to sell remaining inventory, potentially putting pressure on resale values. Dealers are also examining whether state franchise laws require Polestar to compensate them for lost business, inventory or investments. Polestar’s challenges reflect broader difficulties facing Chinese-linked EV companies in the U.S. market. Once seen as a potential Tesla competitor, Polestar sold only 5,747 vehicles in the U.S. last year, with America accounting for about 6% of its global sales. The company is also navigating a tougher EV environment marked by stronger competition and changing consumer demand. The Wall Street Journal has the full story. This story may require a subscription. ...read more read less