Polestar Posts $304 Million Loss Amid Delays, Competition
- Revenue in US, China declined, while sales surged in UK
- Shares have declined 65% since company’s listing last year
Polestar 2 electric vehicles.
Photographer: Brent Lewin/BloombergThis article is for subscribers only.
Polestar Automotive Holding posted another operating loss in the second quarter as the electric-vehicle maker struggled with software delays and intensifying competition.
While revenue surged in the UK and Sweden, it declined in key markets including the US and China during the three months through June, the EV maker said Thursday. Polestar, which is owned by Volvo Car AB and Chinese billionaire Li Shufu’s private investment company, posted a net loss of $304 million.