No, it wasn't. It didn't actually forbid them. It instead prevented people from 7 heavily muslim countries from entering en masse by limiting them to very small quotas while preferring europeans. This is perfectly acceptable and legal application.
The act prevented mass entry. again. This is exactly why.
Starting a car company needs a lot of help. There are a few small struggling fledglings out there that could probably be used that aren't on the WEF bandwagon.