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.

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

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Earnings data Q1 2022

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Earnings data Q4 2023

Earnings data Q1 2024

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.

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.

Polestar 4 production starts; first customer deliveries expected before end of 2023

Polestar (NASDAQ: PSNY ) stock fell sharply yesterday after the electric vehicle (EV) maker lowered its 2023 delivery guidance to roughly 60,000 vehicles, down from the 60,000-70,000 range that it had previously forecast. The automaker issued the revised guidance in conjunction with its third-quarter results, which were released on Wednesday after the market closed.

PSNY Stock Alert: Polestar Just Cut Its 2023 EV Forecast

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EV maker Polestar has announced plans to start the production of its fully electric vehicles at Renault's facility in Busan, South Korea. This development, set to commence in the second half of 2025, follows a collaborative agreement involving Polestar, Renault, and the Geely Group.

Polestar set to use Renault site in Korea for next-gen EVs

Israeli start-up StoreDot said on Thursday Polestar Automotive will be the first automaker to incorporate its fast-charging battery cells, which can be recharged almost to full in 10 minutes, in its vehicles.

Polestar the first EV maker to incorporate StoreDot's fast-charging batteries

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Polestar (NASDAQ: PSNY) stock price freefall continued as the company slashed its guidance and warned of an impending capital raise. The shares collapsed to a low of $2.18 on Thursday, the lowest level on record.

Red alert for Polestar stock price: a heap of headwinds ahead

Polestar Automotive Holding UK PLC (NASDAQ:PSNY ) Q3 2023 Earnings Conference Call November 8, 2023 5:00 PM ET Company Participants Bojana Flint - Head Investor Relations; Polestar Automotive Holding UK PLC Johan L. Malmqvist - Chief Financial Officer; Polestar Automotive Holding UK PLC Thomas Ingenlath - Chief Executive Officer & Director; Polestar Automotive Holding UK PLC Conference Call Participants Andres Sheppard - Cantor Fitzgerald Alexander Potter - Piper Sandler Dan Levy - Barclays Tobias Beith - Redburn Atlantic Operator Hello and welcome to the Polestar Q3 2023 Results Conference.

Polestar Automotive Holding UK PLC (PSNY) Q3 2023 Earnings Call Transcript

Polestar said it is targeting a gross profit margin in the high teens, and deliveries of 155,000 to 165,000 vehicles, in 2025.

Polestar cuts its guidance as it retools its business plan for lower EV sales, higher profits

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GOTHENBURG, Sweden , Nov. 8, 2023 /PRNewswire/ -- Volvo Cars welcomes the strengthened business plan announced by Polestar today, which aims to take the company into a new phase of growth and profitability. Please see the announcement from Polestar here.

Volvo Cars welcomes Polestar's strengthened business plan

Polestar Automotive provided an updated business plan to investors on Wednesday. Things aren't getting better for the electric vehicle start-up.

Start-Up Polestar Updated Its Guidance. It's Another Bleak Sign for EVs.

Swedish electric vehicle (EV) maker Polestar trimmed its 2023 delivery forecast on Wednesday to the lower end of its earlier guidance and halved its gross margin target, amid fears of a slowdown in EV demand and global economic uncertainty.

Swedish EV maker Polestar trims 2023 delivery forecast, halves margin target

GOTHENBURG, Sweden--(BUSINESS WIRE)--Polestar Automotive Holding UK PLC (Nasdaq: PSNY), the Swedish electric performance car brand, today presents a strengthened business plan which targets an accelerated margin improvement and a reduction of the Company's total funding need to the point of cash flow break-even in 2025. In light of a fast-changing operating environment, Polestar has introduced a strengthened business plan that reorients a path to profitability by prioritising margin progression.

Polestar presents strengthened business plan and funding update

GOTHENBURG, Sweden--(BUSINESS WIRE)--Polestar Automotive Holding UK PLC (“Polestar” or the “Company,” Nasdaq: PSNY), the Swedish electric performance car brand, reports its preliminary unaudited financial and operational results for the three and nine months ended September 30, 2023. Key financial highlights1 The below table summarizes key unaudited financial results for the nine-months ended September 30, 2023: (in millions of U.S. dollars)     For the nine months ended September 30,   % Chang.

Polestar Releases Third Quarter 2023 Financial Results

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Electric vehicle maker Polestar said on Monday that it had signed an agreement with South Korean battery manufacturer SK On for the supply of battery cell modules for its upcoming Polestar 5 EV.

Polestar signs deal with South Korea's SK On for Polestar 5 EV

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Polestar Automotive (NASDAQ: PSNY ) stock is in the news Wednesday after Piper Sandler initiated coverage of the electric vehicle (EV) company. This coverage starts with Piper Sandler analysts assigning an “outperform” rating to PSNY stock.

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News for Polestar Automotive Holding UK PLC Stock (PSNY)