Polestar Automotive Holding UK PLC

Polestar Automotive Holding UK Plc engages in the manufacturing, distribution, and sale of luxury electric vehicles. The company was founded on September 15, 2021 and is headquartered in Gothenburg, Sweden.

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Polestar Automotive achieves record Q2 performance and eyes global expansion

Polestar Automotive reported strong Q2 performance with delivery and revenue growth.
The company is focusing on product enhancements, strategic partnerships, and global expansion.
Challenges include inventory impairment, cash flow management, and production ramp-up.
Opportunities lie in collaborations, market expansion, and leveraging autonomous driving technology.

Polestar achieves record deliveries, targets profitability amid funding challenges

Polestar's strong performance in car deliveries and model reception underscores its growth potential. While challenges in funding and cash flow persist, the company's strategic initiatives and product lineup position it well for success in key markets.

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Polestar Automotive Holding UK Plc engages in the manufacture, distribution, and sale of luxury electric vehicles. Its products include Polestar 1, a performance hybrid sedan, Polestar 2, an electric sedan, and Polestar 3, an electric SUV type vehicle. The company was founded on September 15, 2021 and is headquartered in Gothenburg, Sweden.

Volvo AB

Sweden's Volvo said it would stop funding electric vehicle (EV) maker Polestar (PSNY), in the latest pullback by automakers of their EV forays.

Volvo Pulls Funding From Polestar, Marking Latest Setback for EV Industry

The shares of Sweden-based electric vehicle (EV) maker Polestar (NASDAQ: PSNY ) are down about 10% today. PSNY stock is sinking after reporting that it would no longer receive funding from its parent company, Volvo (OTCMKTS: VLVCY ), whose headquarters are also based in Sweden.

PSNY Stock Alert: Volvo Will Stop Funding Polestar

Geely Automobile Holdings Ltd

Volvo Cars shares surged 23% as the Swedish automaker said it will stop providing funding to EV startup Polestar as it ramps up its own investment.

Volvo Car shares surge as it'll stop funding Polestar in deal with parent Geely

Polestar (NASDAQ: PSNY) stock price will be in the spotlight on Thursday after its biggest shareholder closed its cash tap. The stock closed at $2.17 on Wednesday after crashing by more than 85% from its all-time high.

Polestar stock price is at risk after big Volvo news

The group announced that it may hand stewardship of ailing luxury car brand Polestar over to majority Volvo shareholder Geely Holding. Volvo Cars CEO Jim Rowan told CNBC's Silvia Amaro on Thursday that this was a “natural evolution” in the relationship between the two carmakers.

Volvo shares jump 21% on higher sales, plans to stop Polestar funding

GOTHENBURG, Sweden--(BUSINESS WIRE)--Polestar Automotive Holding UK PLC (Nasdaq: PSNY), the Swedish electric performance car brand, welcomes Geely Sweden Holding as a potential direct new shareholder. Volvo Cars is evaluating a potential adjustment to its shareholding in Polestar including a distribution of shares to its shareholders, with Geely Sweden Holding being the primary recipient. Volvo Cars will remain a strategic partner in areas across R&D, manufacturing, after sales and commerci.

Polestar Welcomes Geely's Long-Term Commitment to Its Development and Growth as an Independent Exclusive Performance Brand

Swedish automaker Volvo Cars said on Thursday it would stop providing funding to Polestar as it reported a slightly bigger than expected rise in fourth-quarter operating earnings.

Automaker Volvo Cars to stop funding Polestar, quarterly earnings above estimates

Electric vehicle (EV) manufacturers are having a rough outing lately and upstart Polestar (NASDAQ: PSNY ) is proving no different. PSNY stock is slipping on Friday after the underlying company announced a headcount reduction.

Polestar Layoffs 2024: What to Know About the Latest PSNY Job Cuts

Swedish electric vehicle maker Polestar Automotive Holding , on Friday said it plans to cut around 450 jobs globally, about 15% of its total workforce.

Electric vehicle maker Polestar to cut around 450 jobs globally

Bernstein analyst Daniel Roeska launched coverage on shares of the EV start-up with a Sell rating and $1.15 price target.

Polestar Is ‘On a Road to Nowhere.' There Is A Solution, Though.

Shares of Polestar (NASDAQ: PSNY ) are down by about 8% after the Swedish electric vehicle (EV) company reported weaker than expected 2023 deliveries. During the fourth quarter, Polestar delivered 12,800 vehicles, bringing its full-year 2023 deliveries to 54,600 vehicles, up by 6% year-over-year.

PSNY Stock Falls as Polestar Misses 2023 Delivery Target

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GOTHENBURG, Sweden--(BUSINESS WIRE)--Polestar Automotive Holding UK PLC (Nasdaq: PSNY), the Swedish electric performance car brand, reports its global deliveries for the fourth quarter of 2023. Polestar delivered approximately 12,800 cars in the fourth quarter, including 880 Polestar 4 in China, taking its global deliveries for the year to approximately 54,600 cars, a growth of 6% compared to 2022. Polestar continues to protect its exclusive brand position in what remains a challenging market,.

Polestar announces global volumes for the fourth quarter, including a strong start to Polestar 4 deliveries

GOTHENBURG, Sweden--(BUSINESS WIRE)--Polestar Automotive Holding UK PLC (Nasdaq: PSNY), the Swedish electric performance car brand, announces appointments to its Board of Directors and Management Team. Winfried Vahland has been appointed to the Board as a new director. Winfried was previously CEO and President of Volkswagen Group China, Chairman of the Executive Board of Skoda Auto and a Member of the Board of Volvo Cars. He is currently Member of the Supervisory Board of Proton Holdings. Håkan.

Polestar announces Board and Management appointments

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Polestar (NASDAQ: PSNY ), the Swedish electric vehicle (EV) company controlled by China's Geely (OTCMKTS: GELYF ), has begun production of its Polestar 4 with deliveries due to start in December. Polestar cars destined for North America will be made at a Renault (OTCMKTS: RNLSY ) plant in South Korea while others will be made at a Geely plant in China.

PSNY Stock Alert: What to Know as Polestar 4 Production Begins

GOTHENBURG, Sweden--(BUSINESS WIRE)--Polestar (Nasdaq: PSNY) confirms the successful start of production of Polestar 4, with first deliveries to customers in China expected before the end of 2023. Official launch in all other Polestar markets is planned for early 2024, with customer deliveries in these markets expected within the same year. The first production car to roll off the assembly line is finished in Snow with the signature Swedish gold details of the Performance Pack. It is the first.

News for Polestar Automotive Holding UK PLC Stock (PSNY)