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U.S. Allows Volvo to Continue Sales of Chinese Connected Cars

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Volvo, which is majorly owned by Geely (HKG:0175), is allowed to continue importing connected cars to the U.S., avoiding the Trump administration's ban on Chinese cars.

The U.S. Department of Commerce granted a permit to the Sweden-based automobile maker to import and sell connected vehicles in the country, according to a Tuesday press release.

The Commerce Department placed a ban on Chinese connected cars and a 100% import tax on Chinese electric vehicles, according to a report on Bloomberg News.

Volvo invested $1.3 billion into its U.S. operations to date and plans to bring two additional vehicles into production before 2030, the press release said.

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