Polestar Automotive Holding UK PLC (PSNY) Business and Strategy Update (Transcript)
Polestar Automotive Holding UK PLC (NASDAQ:PSNY ) Business and Strategy Update January 16, 2024 8:00 AM ET Company Participants Michael Lohsceller - Chief Executive Officer Mona Abbasi - Customer Experience Philipp Romers - Head of Design Theo Kjellberg - Head of Corporate Communication Jean-Francois Mady - Chief Financial Officer Conference Call Participants Stephanie Johansen - Moderator Andres Sheppard - Cantor Fitzgerald Trevor Young - Barclays John Babcock - Bank of America Daniel Roeska - Bernstein Tobias Beith - Redburn Atlantic Stephanie Johansen Polestar's Strategy Update highlights key changes the company is implementing and important news about the business and future products. Based on a well-positioned brand and exciting products, Polestar is entering the next chapter on its journey to accelerate the change towards a sustainable electric future by making the performance cars of tomorrow.
Polestar digs in for another grim year
Volvo spinoff Polestar had a rough 2024, and 2025 looks like it could be just as difficult.
Why Polestar Automotive Stock Crashed 13% on Thursday
Polestar Automotive (PSNY -12.29%) stock crumpled under the pressure of an earnings miss Thursday morning. As of 10:35 a.m.
EV maker Polestar's full-year car sales miss forecast
Polestar said on Thursday it sold fewer-than-expected cars and the Swedish EV maker's CEO added that it will take longer for the company to be profitable.
Polestar Earnings Preview: EU Demand Weak In 2024, But There Is Hope In 2025
Polestar Automotive Holding UK PLC is expected to report a Q3 loss of -$0.15 per share on $634M in revenues, with demand remaining weak. Analysts predict continued unprofitability and uncertain future performance, despite management's optimistic remarks about stronger volumes in H2 2024. Key concerns include declining EV market share in Europe, high debt levels, and stiff competition, making profitability by 2025 unlikely.
Polestar grows sales despite tough EV market conditions
Polestar has announced stronger sales over the fourth quarter as the Swedish electric vehicle (EV) maker grapples with tough conditions on a wider slowdown in demand. Sales jumped by 5.3% to 12,256 cars during the quarter, Polestar reported on Thursday, while its order intake was said to have surged by 37.2%.
Polestar raises hope as order intake rises
Polestar on Thursday reported rises in fourth-quarter retail sales and order intake, raising optimism amongst jittery investors over demand for the Swedish EV maker's higher-priced models.
Why Polestar Stock Rocked the Market Today
Electric vehicle (EV) stocks got quite a charge on Friday thanks to good news coming from one of their more prominent players. That player wasn't Polestar (PSNY 10.91%).
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Biden proposal would 'effectively prohibit' sale of Polestar cars in US, automaker says
Polestar said on Monday that a proposed Biden administration rule to bar the use of Chinese vehicle hardware and software would "effectively prohibit" the automaker from selling vehicles in the United States.
Polestar Automotive Stock: Buy, Sell, or Hold?
Should you invest in this unloved electric vehicle maker?
Should You Buy Polestar Stock While It's Below $2.50?
The EV maker has faced numerous challenges over the past year, and a new management team will look to right the ship.
