Polestar reports increased losses for the 2023 fiscal year as the company faces renewed questions about its long-term future amid struggles with cash burn and slumping EV demand.
Polestar
New Tariffs Force Volvo to Delay U.S. Launch of Chinese-Made EX30 EV
Volvo has “delayed” the U.S. launch of the EX30 battery-electric vehicle due to new tariffs on Chinese-made EVs announced in May by the Biden administration. That delay appears likely to last until at least sometime in 2025 when the automaker plans to begin production of the EX30 at a second plant in Ghent, Belgium.
Polestar 5 Prototype Using New Battery That Can Charge Up in 10 Minutes
Among the many obstacles to widespread EV adoption, consumers often cite long charging times. But a new battery breakthrough could make it as quick – and potentially even easier – to charge up an EV as it is to fill a gas tank. A Polestar 5 prototype is going from a 10 to 80% charge in just 10 minutes.
All-Electric Polestar 4 Makes Its North American Debut in the Big Apple
Volvo spinoff Polestar is accelerating its product rollout this year and the New York International Auto Show brings the debut of the new Polestar 4. It’s an all-electric CUV that will be positioned in-between the Polestar 2 and 3 models in terms of size and price.
First Drive: 2024 Polestar 2 Performance Package – A Sharper EV
Polestar puts the Polestar 2 sedan under the knife for 2024 and gives it more power, technology, and performance in an attempt to ward off rivals from Tesla, BMW, and Hyundai. Get the full story at Headlight.News
Hertz CEO Steps Down After Failed Bet on Tesla EVs
The CEO of Hertz Global Holdings, has handed in his key to the executive washroom. He’s stepping down after a disastrous move that saw the daily rental company add 100,000 Teslas to its fleet. The EVs didn’t prove as popular as expected with customers – but they did wind up experience far more repairs than anticipated. Adding insult to injury, Tesla’s big price cuts meant massive losses for Hertz when it tried to sell the vehicles off.
President Biden Orders Probe of Foreign Connected Vehicles
Citing Chinese automobiles and trucks with internet connectivity as a possible national security threat, President Biden directed the Commerce Department to launch an inquiry into foreign software in automobiles. Get details at Headlight.News.
Volvo Cuts Off Funding for Polestar
Struggling Polestar faces some serious financial challenges now that Volvo, its Swedish parent, plans to cut off funding for the battery-electric startup. It’s the latest sign of retrenchment by the auto industry as the rapid growth of EV sales has started to flatten out. Volvo itself continues to move forward with plans to become an all-electric brand by decade’s end. Investors applauded the move — and Volvo’s stronger than expected earnings.
Dozens More EVs Coming in 2025 and 2026
At least 40 new battery-electric vehicles are due to reach U.S. showrooms in 2024 — and that’s a conservative estimate as we’ve had a number of surprises dropped on us by both domestic and foreign-owned brands. If anything, the flood of EV offerings will likely accelerate going forward. Here’s a look at some of the models we’re expecting in 2025 and 2026. Headlight.News checks out 45 of them.
Here are the 40+ EVs Coming to Market in 2024
As recently as 2019 you’d have to struggle to find an EV at your local showroom. Today, however, there are more than 50 different nameplates available in the U.S., the vast majority offered with range exceeding 200 miles – and some products doubling that figure. But the pace of introductions is only set to accelerate, with dozens of new battery-electric vehicles soon coming to market. Headlight.News checks out the most interesting and important products debuting in 2024.
Where’s My Affordable EV? Tesla, GM and Other Automakers Claim it’s Coming
At an average cost of $60,000, most of today’s battery-electric vehicles fall into the luxury category — and that’s one reason why the growth of the EV market has slowed down this year. But as we head into 2024, motorists who want to go electric could soon find more affordable options. Get details at Headlight.News.
Polestar Betting on New Battery That Will Charge Nearly as Fast as You Can Fill Your Gas Tank
Polestar hopes to become the first automaker to adopt a unique new battery design that will address one of the biggest concerns about EVs: their long charging times. Developed by start-up StoreDot, the technology is capable of adding 100 miles of range in just five minutes. And, unlike existing chemistry, StoreDot and Polestar claim repeated fast-charging won’t degrade battery life.