Transportation
Polestar Posts $242 Million Loss Amid EV Demand Slowdown
- Swedish EV maker saw lower volumes and higher discounts
- Automakers are resorting to price cuts to sell electric cars
A Polestar 4 at the electric vehicle showroom in Stockholm.
Photographer: Erika Gerdemark/BloombergThis article is for subscribers only.
Polestar Automotive Holding UK Plc posted another heavy quarterly loss as the electric-vehicle maker struggles with intensifying competition, high costs and a demand slowdown.
The Swedish manufacturer reported a $242.3 million operating loss for the second quarter, although this was slightly narrower than the corresponding three-month period last year. Revenue dropped 17% to $574.9 million due to “lower global volumes and higher discounts,” Polestar said Thursday.