Hyperdrive
Polestar CEO Sees Chip Shortage Dragging to 2022 Amid SUV Launch
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Polestar, the electric-vehicle maker that’s set to go public in a $20 billion reverse merger next year, expects to battle chip shortages into 2022 as it ramps up production to meet the sales targets outlined to investors.
Executives from Polestar, backed by Volvo Car Group and Zhejiang Geely Holding Group Co., were in New York on Thursday to show off a new luxury sport sedan, the Polestar 5. The sporty sedan, modeled off Polestar’s Precept concept car, is aiming to steal share from Porsche AG and Tesla Inc. It’s the first of three new models Polestar plans to introduce by 2025.