Red figures
Polestar has suffered a heavy loss in the past quarter due to higher American input rates and the persistently weak demand for electric cars.
Due to disappointing sales of the Polestar 3, an electrically driven SUV, and the extra levies, the company had to transfer 637 million euros. Partly because of this, the net loss amounted to nearly 888 million euros in the second quarter of this year. In the same period last year, the loss amounted to 231 million euros.
Polestar was split off from Volvo in 2022 and brought to the Nasdaq. Since then, the company has lost most of its market value. The company is struggling with weak demand, increasing trade tensions and growing competition. Earlier this year, Polestar received a capital injection of billionaire and GEYY founder Li Shufu of 200 million dollars. Nevertheless, the company is still looking for extra resources to finance its debts.
Red Figures
Polestar Suffered a Heavy Loss in the Past Quarter Due to Higher US Import Tariffs and Continued Weak Demand for Electric Cars.
Due to Disappointing Sales of the Polestar 3, An Electrically Powered SUV, and the Additional Levies, The Company Had to Write Off The Equivalent of 637 Million Euros. Partly Due to this, the Net Loss Amounted to Almost 888 Million Euros in the Second Quarter of This Year. In The Same Period Last Year, The Loss was 231 Million Euros.
Polestar was Split from Volvo and Brought to the Nasdaq in 2022. Since then, The Company Has Lost Most of its Market Value. The Company is Struggling with Weak Demand, Increasing Trade Tensions and Growing Competition. Polestar Received a Capital Injection of $ 200 Million from Billionaire and Geney Founder Li Shufu Earlier This Year. Neverberthess, The Company is Still Looking for Adderal Resources to Finance Its Betts.