Polestar Automotive Holding UK PLC Class A ADS (PSNY)
Polestar narrows quarterly loss on cost-saving push, improved demand
Swedish electric-vehicle maker Polestar reported a 31% reduction in its quarterly loss on Monday, in a sign that the company's efforts to cut costs across its business and push sales of its higher-priced models were bearing fruit.
EV maker recalls more than 27K vehicles over risk malfunction in key component
Electric vehicle manufacturer Polestar has recalled over 27k vehicles following the discovery of a rear-view camera malfunction.
EV maker Polestar recalls 27,816 US vehicles, NHTSA says
Electric vehicle maker Polestar is recalling 27,816 cars in the United States over an issue with the rearview camera, the U.S. National Highway Traffic Safety Administration (NHTSA) said on Friday.
Polestar: 2025 Needs To Be Electric
Polestar Automotive Holding UK PLC has continued to burn cash as market conditions have been challenging in especially Europe, and the company has failed to maintain sales. As liquidity is running lower and Polestar has increasing debt, the need for earnings improvements is urgent. Polestar targets positive EBITDA in 2025 already with retail expansion and the Polestar 5 launch. Yet, I believe that the target may be too ambitious.
EV maker Polestar secures $450 million loan facility, delays quarterly results
Electric vehicle maker Polestar has secured a 12-month loan facility of up to $450 million, it said on Friday, and would delay its fourth-quarter results in April along with its annual filing for fiscal 2024.
Where Will Polestar Automotive Stock Be in 1 Year?
Polestar Automotive (PSNY -1.92%) has disappointed a lot of investors since its debut in June 2022. The electric vehicle (EV) maker went public by merging with a special purpose acquisition company (SPAC), and it started trading at $12.98 a share.
Polestar: It Keeps Getting Worse
Polestar has struggled since its SPAC merger, badly missing delivery targets and burning cash, leading to multiple debt and equity raises. Despite restructuring efforts, Polestar's Q3 2024 results were unimpressive, with revenues again well below street estimates. The company has again slashed its longer term growth outlook, and it desperately needs to bring in more equity capital.
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.
