Polestar CEO Thomas Ingelanth resigns from the company as Polestar continues to bleed money and navigate rough waters caused by slumping EV demand and cash burn.
Polestar news
EV Maker Polestar Begins U.S. Production as it Seeks To Avoid Toughened U.S. Tariffs
Polestar announces that it has begun U.S. production of Polestar 3 as the brand attempts to avoid tightened U.S. tariffs and reduce its dependency on Chinese facilities for vehicle production.
Polestar Reports Massive 2023 Losses as the Company Faces Questions About its Future
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.
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.