Shares of Volvo Car AB experienced a notable increase of over 6% on Wednesday after the Swedish automaker secured authorization from the U.S. government to import and sell connected vehicles. This approval comes under the new supply chain security regulations, specifically the 'Securing the Information and Communications Technology and Services Supply Chain: Connected Vehicles' rule, which necessitates a case-by-case review for such sales. The authorization was granted following discussions between Volvo Car USA and the U.S. Department of Commerce regarding the company's governance and data security measures. Volvo operates a significant manufacturing facility in Charleston, South Carolina, where it has invested more than $1.3 billion and created over 2,000 jobs. The company has plans to produce two additional vehicle models at this facility before 2030. With its U.S. headquarters located in New Jersey, Volvo employs around 400 individuals there, alongside an additional 200 corporate staff nationwide, and maintains a dealer network across 48 states, employing approximately 11,500 people. Last year marked 70 years of Volvo's operations in the U.S., a key market for the company.