Polestar Automotive Holding UK PLC Class A ADS (PSNY)
Why Polestar Stock Is Surging Today
Polestar has begun building its new electric SUV in a Volvo factory in South Carolina. The move allows it to avoid tariffs on China-made EVs in the U.S. and Europe.
Why Polestar Stock Was Zooming Higher This Week
The ambitious automaker is launching production of its latest model in the U.S. The Polestar 3 should start rolling out of its South Carolina factory soon.
Swedish EV maker Polestar starts U.S. production, avoiding heavy tariffs
Swedish electric-vehicle (EV) maker Polestar moved one step further in avoiding major tariffs imposed on Chinese-made cars on Wednesday when the automaker said it began production of its Polestar 3 SUV in the United States.
Polestar: Waiting For Capital Raise
Polestar Automotive has struggled since going public in 2022, with low vehicle deliveries and high cash burn. Recent financials for Q1 show decreased revenues, negative gross margins, and operating losses, despite some improvement in cash burn. The company's balance sheet remains quite concerning, with a negative equity balance and the need for more capital.
PSNY Stock Alert: Polestar Receives Nasdaq Non-Compliance Notice
Polestar (NASDAQ: PSNY ), an electric vehicle (EV) company backed by China's Geely (OTCMKTS: GELYY ), but based in Sweden, got a non-compliance notice from Nasdaq for failing to maintain a price of $1 per share. Polestar has until Jan. 2 to get its price up and maintain its listing.
Polestar Automotive Holding UK PLC (PSNY) Q1 2024 Earnings Call Transcript
Polestar Automotive Holding UK PLC (NASDAQ:PSNY ) Q1 2024 Earnings Conference Call July 2, 2024 8:00 AM ET Company Participants Thomas Ingenlath - CEO Per Ansgar - CFO Bojana Flint - Head of IR Conference Call Participants Tobias Beith - Redburn Atlantic Andres Sheppard - Cantor Fitzgerald Daniel Roeska - Bernstein Dan Levy - Barclays Operator Good day and thank you for standing by. Welcome to the Polestar Q1 2024 Results Conference Call.
Polestar (PSNY) Stock Slumps Despite Cost Cutting, Delivery Growth
The shares of Sweden-based EV maker Polestar (NASDAQ: PSNY ) stock are retreating about 9% today even though the electric vehicle company reported that its deliveries had surged in the second quarter. The automaker also confirmed that it had reduced its workforce by 15% this year, in-line with its previous commitment.
Polestar Stock Slumps Despite Deliveries Jumping 80%. This Is Why.
The company delivered about 13,000 cars in the second quarter, bringing the total for the year so far to about 20,000 vehicles.
Polestar posts loss, plans steps to offset tariffs on China-made EVs
Electric vehicle (EV) maker Polestar said it will have to take steps to offset hefty EU and U.S. import tariffs on its Chinese-made electric cars as it posted a first-quarter operating loss on Tuesday.
Polestar (PSNY) Reports FY23 Results, Revenues Down 3% Y/Y
Polestar's (PSNY) revenues in 2023 decline 3%, mainly due to increased discounts and lesser carbon credit sales.
Polestar reports decline in 2023 revenue as EV maker grapples with slowing demand
Swedish EV-maker Polestar said on Friday, after months of delays in turning in its financial reports, that its 2023 revenue fell about 3% and its losses widened as it grappled with slowing demand for its higher-priced models.
EV Company Polestar in Big Trouble
24/7 Insights The Polestar Automotive Holding (NASDAQ: PSNY) chairperson has stepped down.
