02:35 PM EDT, 08/29/2024 (MT Newswires) -- Polestar Automotive (PSNY) does not expect to see much of an impact from import tariffs imposed by the European Union and the United States on China-made electric vehicles, the company's finance chief said during its Q2 earnings call.

"This is not a big deal for us," CFO Per Ansgar told analysts, according to the call transcript available on S&P Capital IQ.

The company has already taken steps to move away production of its cars from China to US and South Korea.

Polestar began production of its Polestar 3 luxury SUV in South Carolina earlier this month for customers in the US and Europe, and said it was working to begin producing Polestar 4s in South Korea beginning in the middle of 2025 which would supply the US market.

Ansgar said the company was now in "deep discussion" on whether the South Korean plant could also be used to supply Polestar 4s to Europe.

PSNY shares were up more than 15% in recent trading.

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