PSNY

Who needs Volvo anyway? Shortly after co-parent company Volvo Cars announced plans to cut ties with Polestar, the EV-centric brand has turned to an all-star lineup of international banks for external funding totaling close to one billion dollars. Polestar’s other owner, Geely Holding, is still very much involved and will also help Polestar continue work to roll out its two incoming electric SUVs and beyond. Polestar Automotive Holding UK PLC ($PSNY) is an automotive melting pot founded in 2017 with…

Volvo announced plans to sell 62.7% of its stake in EV maker Polestar (PSNY) as it looks toward the next stage of its transformation. Volvo said it will also cut off funding as the “company is well positioned for growth.” Volvo plans to trim stake in EV maker Polestar “As we embark on the next stage of our transformation, gearing up to lead in next-gen mobility, our focus sharpens on Volvo Cars’ development,” Volvo Cars CEO Jim Rowan explained. Volvo Cars board proposed plans to distribute the…

Polestar (PSNY) shares are falling Monday after car rental giant Hertz (HTZ) announced plans to delay buying its EVs this year. Scaling back electric vehicle plans The news comes after the car rental giant said it would sell some of its Tesla models earlier this month. In 2021, Hertz announced a massive 100,000 Tesla Model 3 order to bolster its EV rental offerings. Hertz followed it up by adding Tesla’s Model Y to its fleet the following year. A month later, Hertz stuck its first deal…

Should Volvo take EV maker Polestar (PSNY) private? Investment research firm Bernstein says it may make more sense. Polestar built high-performance vehicles alongside Volvo for over two decades. After Geely bought out Volvo, Polestar was established as an independent electric vehicle brand in 2017. The brand’s first passenger vehicle, the Polestar 1, was a hybrid that offered up to 78 miles of all-electric range. Polestar’s first all-electric vehicle, the Polestar 2, was revealed in February…

A Polestar 4 electric SUV is on display during the 20th Shanghai International Automobile Industry Exhibition at the National Exhibition and Convention Center (Shanghai) on April 18, 2023 in Shanghai, China.Vcg | Visual China Group | Getty ImagesSwedish electric vehicle maker Polestar on Wednesday cut its longstanding 2025 deliveries target and said that despite cost cuts, it will still need to raise cash to break even that year.The company also cut its guidance for the current year.Shares rose about 3% in after-hours…

EV maker Polestar (PSNY) delivered roughly 15,800 vehicles in the second quarter of 2023, up 31% from Q1. Polestar’s stock is trending, up 5%, following the rising deliveries. Polestar records over 15K deliveries in Q2, stock spikes After delivering 12,076 vehicles in the first three months of the year, Polestar raised concerns by lowering its annual global volume from 80K to between 60K to 70K. The lower guidance came following a delay in producing its first electric SUV, the Polestar…

Polestar drivers are gaining access to Tesla’s Supercharger network. Swedish EV maker Polestar (PSNY) announced Thursday it’s officially adopting Tesla’s NACS connector. Polestar EVs to be equipped with Tesla’s NACS from 2025 Starting in 2025, new Polestar vehicles sold in North America will feature Tesla’s NACS charging port as standard. Meanwhile, adapters are expected to roll out in mid-2024 to help existing Polestar drivers access the network. Thomas Ingenlath, CEO of Polestar,…

Polestar became the latest electric-vehicle manufacturer to cut its forecast for 2023 deliveries on Thursday, sending its stock down 11%. Polestar became the latest electric-vehicle manufacturer to cut its forecast for 2023 deliveries on Thursday, sending its stock down 11%. FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to…

Polestar 3Courtesy: PolestarSwedish electric vehicle maker Polestar on Thursday trimmed its full-year production guidance, saying that its upcoming Polestar 3 SUV will be delayed until 2024 because of software issues.The company also said it will cut about 10% of its workforce to reduce costs. Shares were down over 4% in premarket trading following the news.related investing newsThe news came as part of Polestar's first-quarter earnings report. For the period ended March 31, Polestar's net loss was $9 million, or less…

Polestar, the Swedish EV maker known for its Scandinavian minimalist design, said it remains on track to hit 80,000 deliveries this year after delivering roughly 12,000 vehicles in Q1. The EV maker has an exciting year ahead of it with its first electric SUV, the Polestar 3, launching. Polestar is confident it will hit 80K deliveries after Q1 After delivering a record 51,491 vehicles in 2022, up 80% from the previous year and beating its 50,000 annual global volume target, Polestar looks to…