Hyperdrive
Polestar Is on a Road to Nowhere, Bernstein Says
- Volvo Car should take listed electric-car brand private
- CEO sees “successful” year ahead despite economic headwinds
A Polestar 2 electric vehicle (EV) with an open hood at the company's showroom in New York.
Photographer: Yuki Iwamura/BloombergThis article is for subscribers only.
Volvo Car AB and its parent Geely may need to take Polestar Automotive Holding private, according to Bernstein, which sees shares in the struggling electric-car maker declining further amid intense competition.
The company, which listed in 2022, is “on a road to nowhere,” Bernstein analyst Daniel Roeska said in a note. “We love the innovative asset-light strategy, we like the cars, but we don’t think the company should be a stand-alone equity.”