March 6, 2019 / 1:07 PM / 19 days ago

Volvo Cars warns of pulling electric cars out of United States: FT

FILE PHOTO: The Volvo logo is seen during the media preview of the 2016 New York International Auto Show in Manhattan, New York, March 24, 2016. REUTERS/Brendan McDermid

(Reuters) - Volvo Cars, owned by China’s Zhejiang Geely Holding Group Co, will not sell its all-electric Polestar models in the United States if the company faces tariffs on exports from China, the Financial Times reported on Wednesday.

“The business case for bringing the car to the U.S. is highly dependent on the type of tariffs we have,” Polestar Chief Executive Officer Thomas Ingenlath told the Financial Times.

Volvo Cars’ luxury performance brand Polestar unveiled its first fully electric sedan in February, opening up online pre-orders for the five-seater fastback at a price and with a driving range to rival Tesla Inc’s mass market Model 3.

Volvo Cars was not immediately available for comment.

Reporting by Ankit Ajmera in Bengaluru; Editing by Shailesh Kuber

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