Polestar reveals billions in losses; company in distress as debts grow

[@glennjgroves]

I hope Polestar survives - beautiful cars.

[@SmartMart1658]

Polestar now has three EVs to sell in 27 countries. With the Backing of Geely and Volvo they will NOT be going bankrupt any time soon. Geely is also backed by the China government. Geely has a lot of great brands - Volvo Cars, Polestar, Lotus, LEVC (London Electric Vehicle Company - which makes the London hydrid electric taxi and also hybrid vans.) Lynk & Co, ZEEKR, Farizon, RADAR, and Cao Cao Mobility, and other brands. Polestar 3 & 4 are getting great reviews now these models are being delivered. Polestar up 6.5% today at time of writing. Polestar has a great lineup of vehicles - their designs are much better looking than most other offerings from other auto makers.

[@samimaki2577]

Some sense here.

[@manuelferreira4622]

No, mark my words, polestar will fail very soon!

[@axelknutt5065]

Up 6.5% sounds impressive until you realise that it’s 6.5% of 13 cents … not even a whole cent. This is day trader stuff. 14 cents on the NYSE is so far down the list you’ll get RSI scrolling that far. Zero Polestars sold last month in AU. First half sales down 77%. I wouldn’t be filling up my SMSF with Polestar shares.

[@thomaswestin9987]

They got 1 billion USD investments from external recently, so no worries

[@TheL184]

I've had my polestar for 15 months and the Volvo service EV team definitely know how to problem solve, parts are incredibly competitive as well

[@martee888]

Polestar is a good looking car. I think it is the best looking out of many I've seen.

[@mariusj8542]

In the Nordics, the Polestar is just extremely expensive. They do not have the brand recognition to sell at those prices.

[@elduderino7767]

they are stunning though and that brand recognition will come, for the price there isn't anything as attractive and the polish of the hardware/software is premium unlike something like BYD for now volvo will do the heavy lifting, ex40 likely to be among the best sold EVs next FY imho - geely themselves wildly profitable so 1b losses is nothing while trying to establish a premium brand, especially to crack the western markets polestar will bring a lot more value if they streamlined manufacturing/options like the ex40 and switch to cheaper chemistry - lets not forget the better value options have already done this, polestar have plenty of scope for value, especially as they've now established themselves

[@PelleGIT]

I dont think brand recognition should be a big issue, especially not in the nordics where everyone knows (and frankly you can see it) that its clearly a Volvo. If Polestar struggles with brand recognition, then it will be impossible for other Chinese brands to break in.

[@mariusj8542]

@@PelleGIT but Chinese car sells very well due to exactly the opposite. Extreme value for money

[@PelleGIT]

@@mariusj8542 In China maybe. But as I wrote in another comment, Zeekr 001 is about 10-15% more expensive than a Polestar 2 in Europe. So why such differences between a Chinese sold car and same car sold in EU? This is even before the EU tariffs. And why isnt Polestar 'extreme value for money' in China since its a Chinese car and made in the same factory / production line as Geely. I am just not getting it to reconcile.

[@PoletstarLuke]

When you have Jim Rowan on the board, and a symbiotic relationship between Geely, Volvo and Polestar, all sharing technology with each other, they’ll do good in the long term

[@poni7373]

I think their loss is quite easily explained. In 2023 they had just one model, the P2. THey have been and are developing quite a number of new models. The P3 and P4 are ready for market and the P5 and P6 are in development still. That being the case, and with the P2 being on the market for quite some time now, it is only logical that losses are really high and revenues in 2023 are down.

[@TheNewMediaoftheDawn]

In Canada the P2 is everywhere, and price competitive to the base model 3 with a better range and WAY better looks. Model 3 probably has better tech tho.

[@boyasaka]

I bought £2000 worth of polestar shares at 75 cents about a month ago Im currently 25 percent up as share price is now at $1 2 years ago it was trading at $11 Im hoping sale figures can pick up and shares continue to rise My mates just bought a 2 year old polestar 2 and its a fantastic car Great looking car ,great quality,he absolutely loves it

[@Dylematix]

bad choice, currently 0,15$ per stock so you are down like 1500$.. I hope you are alright

[@ddally8851]

Viking, the next headline I see from you is: Chinese auto on path to global dominance. Australia, no longer builds or sells automobiles. The United States and Europe still build and sell automobiles. This is the biggest, most lucrative and most important business in the world. The US and the EU want to transition to EVs, but they do not want their entire automotive industry destroyed in the process. There you go, it’s really just that simple.

[@Chris-l9b2x]

50 - 60 options? What the hell are you talking about? Until the MY25 was announced there were 3 packages options, pilot, plus and performance.

[@paulconnolly4483]

Polestar pricing seemed astronomical last time I checked. I vaguely remember seeing articles about Volvo ditching the Polestar partnership.

[@GlassActivist]

Volvo is also owned by Gilly.

[@SmartMart1658]

Volvo hasn't ditched Polestar. Volvo still owns 18% of Polestar. The Polestar 3 will be built in the USA at one of the Volvo factories.

[@xiaoka]

Polestar has much deeper pockets. Whether Geely’s new EVs are branded polestar or not they’re not going anywhere any time. Unlike Fisker.

[@kyoza1911]

A deep pocket and a deep pocket with the willingness to spend recklessly are 2 different things.

[@elduderino7767]

whats the biggest problem geely have in the west? brand recognition polestar/volvo loses are meaningless at this stage, their priority is market share and building up their western EV brands, it's the key strategy to break into western markets imho the ex40 is going to be among the top EVs sold in australia the next FY

[@davidbeppler3032]

They could just give them away and quit charging people money for them. It would not effect the bottom line very much at this point.

[@PJWey]

Volvo and Polestar seem to be fighting each other, that won’t end well

[@ssing7113]

And how long do you keep trying to fight a house fire? 1 year. 2 years. A decade? Polestar is like a shit heaven. You get there and you think it will be glorious. Then you’re presented with a polestar 😂😂😂

[@millerbai]

What confusing options packages are you talking about? 🤨 I'd say the Polestar configurator is one of the simplest I have ever played with.

[@casperhansen826]

So you haven't tried Tesla, choose model, performance pack, color, Interior color, rims and maybe a tow hitch

[@millerbai]

@@casperhansen826 Clearly wrote ONE OF the simplest, didn't I? 🙄 But anyway, Polestar offers maybe 3 or 4 more options than that so I'm still wondering about what confusion the guy is talking. I mean, go configure a Porsche...

[@lancpudn]

They've run out of rich people with deep pockets to buy these expensive vehicles.

[@hargeaux]

Do you think BMW and Merc are thinking the same thing? Of course not...

[@xaionik]

​@@hargeauxBMW, Audi, Porsche and Mercedes have brand recognition. No one knows Polestar except for a few fans.

[@danoprea3066]

Truth is, we don't want Chinese refrigerators on wheels. Even more so, at premium prices. Thanks, but no thanks.

[@teku412]

​@danoprea3066 the only thing chinese about these cars is where they get their funding. Have you seen the people actually designing these?? All European

[@danoprea3066]

@@hndflights German and Swedish parts are fine, Chinese parts are not. China is not part of the European market. If Chinese brands want to sell in Europe, they should sell cars that have 75% of their value made in Europe. Otherwise they should be taxed at 100%. End of the story.

[@martingill6996]

Should have kept it all under Volvo and offered keener prices .

[@sevenohm3375]

The 2 companies had different target markets and thus different demand curves. Performance ev demand has shifted inward, ie a change in demand, not the quantity demanded. A distinction between these 2 principles needs to be made that seems to escape the Viking. quantity demanded is simply a function of price, while demand (given by the algebraic equation of the line) is a function of intangible variables like how much society values clean air. Movement along a demand curve can only be caused by changes in price. Only changes in non price variables affect actual demand. Micro 101. Ev sales increased from prior year because of a reaction to an increase in supply, not because of a change in a variable that would increase demand. They sold off the slumping performance division, which I didn't even know was originally a performance brand of Volvo's, much like BMW's m. Design is cool, but what's up with ev start up's obsession with sedans. another ev sedan? Doi, they're struggling. But, where are they selling? Chines tariffs make this car too pricey in the states to be competitive. why are ev suv's so hard to slap together

[@alanOHALAN]

Volvo didnt want fast cars.

[@RobWinter-y5b]

Polestar are going under because they wouldn’t send me a car to test. Makes perfect sense.

[@StuartConsulting]

When are they going to learn ?, 2 of the most successful manufacturing companies in the world, Tesla and Apple, keep their options simple and few, it makes mass production cheaper. Unless you are a luxury car maker, and can get away with charging massive markups, the excessive options system just doesn’t work.

[@mackan7086]

Personally I like to have options to customize my new car to get it exactly the way I want it

[@hargeaux]

Polestar are aiming their products to be exactly that, a luxury car brand. I don't blame them, I just don't know if the market is there for that yet. Will people stop buying a BMW, Audi or Merc and pickup a Polestar instead? I don't think so, I think those buyers show quite a bit of brand loyalty.

[@gill7087]

The Polestar doesn’t look any better than any number of similar size Chinese EVs, like the BYD seal, doesn’t have any real `halo’ car like the Ioniq 5 N is to Hyundai, and is charging a premium Audi type price for a bland looking Tesla style car. It’s only nod to ‘different’ interior styling is yellow seatbelts, the rest has been done over and over by any other number of manufacturers. Polestar can’t charge a premium price for a ‘nice’ ‘safe’ vehicle. Nearly every car now is nice and safe, they need to stand out. At the moment they have become the white goods of the car world and fridges are just not that interesting.

[@mackan7086]

@@gill7087 have you seen their lineup? The 3, 4 and 5? They really stand out design wise, and also have really good specs

[@Guvament_bs]

The problem with buying any car from a new untested company is that they may not be around to fix problems or supply spare parts. This a a big worry particularly with EVs. 80 per cent of Chinese EV car makers have disappeared with many more to follow. EVangalists don't care.

[@kallekas8551]

Polestar is Volvo EV.

[@Guvament_bs]

@@kallekas8551 how does that fact negate what I said. Plus obviously polestar is a different entity than Volvo otherwise the story would be that Volvo is going broke.

[@kallekas8551]

@@Guvament_bs I assumed when you said “untested company” you assumed it was newish…

[@Guvament_bs]

@@kallekas8551 if you believe buying expensive products from new untested companies is not a risk. Great. You are entitled to believe anything you want. I don't have lots of money to risk buying untested products. So I will risk a Chinese phone but not a car. I am not as well off as you. That's life.

[@rogerfroud300]

True, except for EVangelists, who certainly do care. However, it's survival of the fittest, and China has been guilty of creating a completely unsustainable bubble. It's a shame about Polestar though, because their cars seem pretty good.

[@yggdrasil9039]

Polestar 2 started off in Australia matching the Tesla Model 3 price. As a result they got pretty decent sales in 2023. This is where they should be aiming, but instead they claim to be going for the luxury market and only selling a few models. At a time when the entire industry is moving towards affordable EVs. 🙄

[@DileepaRanawake]

I’m a Volvo owner and just drove the polestar 2. It was awesome. So I looked up the cost - in the uk it’s thousands of pounds more expensive than a Tesla, and has a lot less tech as standard. The reason it’s not selling is because it costs way too much. Not because ev demand is dropping.

[@LJ-jq8og]

Bankruptcy is coming ! 🔥

[@zeedustrakok]

I don’t mind it being more expensive than Tesla. It is a better car. Why didn’t I get one? I used to drive XC60’s and V60’s, and the quality of the polestar 2 is on par with the lowest Volvo’s (which is still above Tesla), but it isn’t no way near the Volvo 60 series (even if it goes for the same price). I did consider the Fisker, but I didn’t want to take the risk and went with a BMW i5. As for polestar: don’t think they are going to let it go. They use their R&D for Volvo, Zeekr and other Geely brands.

[@3184Patrick]

one of my bosses just bought a Polestar 2 and he had test drove a model 3 and y and he said the Polestars build quality was years ahead of Tesla.

[@manuelferreira4622]

Of course not...

[@LJ-jq8og]

@@zeedustrakok I was a long term Vovlo owner but their service people RAPE you and are dirt-balls ! Tesla service has been honest with me to date... Good luck with BMW service 🤣

[@DR-ib2yg]

I've always said that Polestar are way too expensive here in Sweden! They need to lower the prices by 30-40% to sell more. Or they could keep the prices but deliver cars fully loaded! As you said Viking, they build them on China in the same factorys as chinese brands.

[@brokenribeyesteak]

I've been waiting about the new Genesis eGV70 facelift, but then the Polestar 4 dropped and I was completely torn! This video was like a breath of fresh air. It really helped me to chill out and focus on what I really want

[@AyeAye-o8t]

Not just Polestar, Lotus is losing half a billion pounds. Geely is using them as the luxury brands and people are not willing to pay the prices for them. The Lotus SUV Electre is over US$100,000 which is crazy.

[@leeo268]

Geely will never let Polestar died. At most, they might scale down their operation and sell Zeeker reskin.

[@ruisantos8291]

Love my Polestar 2. Amazing car! About the packages, they are the easiest in the auto industry, period. I don’t want to be disrespectful but sometimes I think KZbinrs don’t really know what to say 🤷‍♂️

[@matthewsalmon8194]

I really like the new Polestar 3 - would be top of my list if finances would allow - but I do think they will struggle taking on the likes of Audi and BMW head on in the E segment at around the £70-90k mark.. I think they would be better serving the Renault/Volvo segment of the market aggressively at more like the £50k mark and selling more cars to build their brand a bit more. If you put a £40k Renault Scenic Etech alongside a £80k+ Polestar 3 you are paying twice as much for a car that is a little bigger and a bit higher spec..but not much. I just think they should be priced a bit more for the masses or priced to entice people away from Audi or Mercedes

[@StephenJohnson-jr5hp]

"The number of active automobile manufacturers dropped from 253 in 1908 to only 44 in 1929, with about 80 percent of the industry’s output accounted for by Ford, General Motors, and Chrysler, formed from Maxwell in 1925 by Walter P. Chrysler." Here we go, again. Thank you for sharing Invention of the Automobile

[@4literv6]

Great point! And multiple ceos in china and analysts have been warning a great consolidation of car makers is coming soon. 👍🏻😀 Hell just look at the so called big 3s numbers from 2017-2023 and then back the evs&phev sales. They are all down globally 25-40% in sales since 2017. Tesla and byd meanwhile are both in the top 10 of ALL automakers worldwide. Byd should hit top 5 this year and top 3 by 2028, while tesla could go from 10th to maybe 8th then within the top 5 by 2028 or even sooner.

[@johnhg_myaus]

Polestar EVs are selling at insane prices in China from RMB 300,000.. ( abt USD 42,000). Just crazy prices.

[@elduderino7767]

that''s because they are premium car, unlike BYD the software just works

[@kamsunleong6648]

​@@elduderino7767 Byd is not in trouble. They are.

[@PelleGIT]

RMB 300k doesnt seem to be too crazy to many comparable cars. Of course you cant compare Polestar to some very small Chinese EV selling for RMB 100k. But even SU7 sells for 220k to 300k in China and the SU7 has proven to be of very low quality.

[@jedisparky]

I love "The Electric Viking" moniker for your channel. It's unique, and it definitely fits as a brand for you. Good on you and your channel. I really do enjoy it here. Your takes are very smart and informative. Thanks for your hard work and in-depth analysis. Keep up the good work.

[@lesatkins42]

Well, Volvo did say they weren't putting any more money into Polestar so I guess its all up to Geely now.

[@boyasaka]

Geely have promised they will stump up more money if need be

[@waseemparkarx]

Fisker had major issues wrt Software Polestar has no such issues. Yes it has issues wrt financials Pricing for Polestar isnt high. they just making sure they dont take a hit for all losses. Not everyone has deep bags like Tesla and Rivian. One hopes Polestar is successful company. as we need competition.

[@888YangJi]

dont worry about it, Geely is their sugar daddy. They will keep the brand, after sales service and spare parts alive. Worst case scenario, polestar just wont develop any new more mass production models.

[@eitanros]

Not necessarily. Geely is like a mother goose that sends her kids to be on their own. Whoever makes it or not - that's natural selection....

[@unaphiliated5090]

My neighbour’s son has one, he is happy with performance, but he said buying all the options was expensive and the technology was challenging to figure out. He’s getting about 350 kilometres range and charges it 2-3 times a week.

[@ArielBatista]

In my view it's an issue with what type of car they sell. They are mainly selling a 4 door sedan. Which is not as good as the Model 3. Issues with inside and slower charging than others when it came out. In the USA they are now almost ready to sell an SUV. Besides they are strange inside even how their cup holders are located.

[@jimwoods9551]

Local PStar dealership is located in a containerised office on a dodgy looking lot, not in a palace like all other main dealers. It makes economic sense but it doesn't give the impression of a company that is going to support the product for the car's expected life.

[@25Alpha]

Polsestar is way too expensive in Australia to be seriously considered as a viable EV option. $180,000.00 AUD for an optioned Polestar 3 is insanity. Absolutely nothing special about Polestars technology across the range. 1.46 billion dollar loss for 2024 and counting.

[@elduderino7767]

at 68k for the base model it's not too bad as for nothing special, they are absolutely stunning - sure it's subjective but i dont think there is a better looking EV for the price they are premium and polished but naturally not the best value, i don't think profit is paramount as they continue to build on top of the brand recognition, geely profits are so massive that the short term loss on polestar is probably by design the 2024 polestar is a massive improvement and at a better price, the ex40 shows whats next for polestar, more streamlined manufacturing and better value - don't forget other manufacturers have switched chemistry for their cheaper models, prices will drop considerably if they bring out an LFP polestar for the same price as the model 3 SR then watch out

[@jansenwilder1335]

Wait for Zeekr EV.. better value and design against its brother Polestar..

[@davidbeppler3032]

@@jansenwilder1335 Zeeker EV, after delays, recalls, and slow startup, due in 2028. Just wait 4-5 years?

[@mackan7086]

They seem to have excellent tech. Have you seen any of the recent reviews of the PS3? They are really killing it!

[@hargeaux]

Are BMW, Audi and Merc worried about their

[@yvesinformel221]

they are renting a Polestar 2 with the plus package for only 349 CAD in Canada. This is insane as the rent is only for 12 months and the value of this car is like 71000CAD. Can you be;leive how muche they are going to loose trying to sell this car!

[@KA9DSL]

And here I'm thinking Polestar was a Polish movie actor.

[@LJ-jq8og]

🤣

[@sevenohm3375]

Porn

[@Suburp212]

😂

[@LJ-jq8og]

@@Suburp212 I was hoping it was a female pole-dancer !

[@antegcabo]

I remember when GM bought SAAB. They said they'll make it profitable, so they gave orders to SAAB management. Make a new model with all cheap GM crap. So SAAB did just the opposite. 9-5 didn't share even a bolt with any GM model. It was safety and engineering in front of time. It even had built-in navigation with a touch-screen. It was anything than cheap, and anything but profitable. Now, Polestar is not profitable? Really? Who could've guessed Scandinavians won't make cheap design? Hmm...

[@philipkemp5129]

They have one car to sell - P2, P3 orders are just being filled for now and at a price that is way to expensive for the performance its provides against the market options. I ordered one and was told it was shipped before I could even confirm my delivery specs... they are just desperate to push them onto customers before you have even had a chance to test drive one! Order is cancelled....

[@metricstormtrooper]

Why would polestar bother with a youtube chanel that just talks incessantly about evs but never tests them.

[@spl1011]

Bingo.

[@TheLDunn1]

Well said!

[@paveldrechsler2620]

Polestar is a good car, bit too expensive for my test, but I hope that it will survive.

[@itekani]

They don't have so many options on their cars. You're mixing them up with VAG. ;-)

[@ChicagoBob123]

The problem with waiting. Tesla was trying untested and difficult production and sales of electrics for years before they started to get it right and sell in volume. They could charge high prices because they were alone. Now new car makers make a car, they need to charge a lot or sell slowly until they can compete with Tesla and BYD. They waited now they are all paying the price of waiting. Many will die trying

[@rickjoneslbi]

volvo does the service…also owned by Geely….so no issues for service in the future. Too many options???? ever buy a Benz or Porsche (their target customer)…AND for Sam to be pissed because they did not give him a test car lowers my opinion of him

[@Madmax-eq6dp]

Owning a polestar has destroyed my life. I bought a certified preowned P2 from polestar and it’s been a nightmare. The service centers are bad. 6 week to 7 month wait for a simple service. They sold me a car with known suspension issues and never fixed it. They actually made it worse. They offered me close to 20k less than what I paid to buy it back. Tires wear unevenly feels unsafe to drive it clunks over bumps it’s a bad faulty car.

[@MP_145]

Volvo EX30 also having to provide buyers with refunds and buy backs after software issues, also Geely owned...

[@neildolan7177]

Great vlog, dont like to see companies losing money. Its may suit the parent company for tax purposes. May be better of a legacy car company bought them out.

[@joe2mercs]

It’s tough for Polestar as they are still very small producer and even if they get to 150,000 vehicles in total this is well short of the volumes needed to achieve the economies of scale to significantly reduce production costs.

[@hardi.howdy.983]

Polestar looks better than Tesla

[@trythis2821]

At a price, would rather pay for Tesla and keep the difference.

[@ralphcramden8582]

You are delusional. Tesla make a profit on every car they sell int the $30 to 40K range but Polestar loses money on cars produced in the $189k range. Polestar is on it's way to bankruptcy.

[@TomLebouvier-cz9oi]

En francais pour le plaisir (et en attendant la polestar 4 en France la plus belle VE) Je partage l’avis du viking Pour moi la seule issue est de refusionner la marque Polestar avec Volvo et utiliser le réseau de vente et la réputation de la marque centenaire pour sortir du piège « lotus » pour Polestar. Il faut savoir admettre ces erreurs pour progresser Comme Volvo rencontre des difficultés sur le VE (inutile de développer le retard est juste tragique ) le deal pourrait être win win À très vite

[@SamiPaju]

Polestar still only has Polestar2 to sell. It’s old despite facelift, based on a gas car platform. Simply too expensive for what it is. Polestar 3 and 4 look amazing, but they are not being delivered yet. No wonder they do poorly when they don’t have anything competitive to sell and deliver. I hope it changes soon for them, because there are so many good things going with the way their cars are designed.

[@beautifulgirl219]

2023 Canadian wildfires burned nearly 7.8 million hectares of forest and accounted for more than a quarter of all tree cover loss globally. Furthermore, forests impacted by wildfires emitted nearly 3 billion tons of CO2 or about 25% more carbon than all primary tropical tree cover loss that year. These results have important implications for global carbon budgets because emissions from these wildfires will largely be excluded from official greenhouse gas reporting.

[@johnhg_myaus]

Yes, Its quite a hypocrisy. Just selective reporting for feel good factors by governments. Another is warfare, how much CO2 and CO emissions from the current battlegrounds of Gaza, Ukraine, Myanmar....

[@jasoncatt]

I remember thinking right at launch that they should have just kept it as Volvo. It'll be absorbed back into the Volvo brand I reckon. Give it a year, two tops.

[@gerardy7500]

I think Polestar is focusing too much on high end luxury car at premium price.

[@karlwest437]

They're making high end cars that not many people can afford, not surprising they're in trouble

[@broondjongen4195]

No wonder if you look at there pricing.

[@frankjohansen3132]

Polestar cars are so nice to drive, they know how to tune everything so you feel you are in complete control. Polestar originally tuned Volvo cars didn`t they? I tried the Volvo EX30 and it was not finetuned at all, i didn`t feel comfortable driving it. I hope Polestar survives.

[@tonyn3227]

Polestar dealer support is weak here in USA, and they are overpriced, recipe to go down.

[@edwinrichter3181]

I have my 2nd PS2 allwheel drive and I am happy with it. But I have always leasen my cars because of the risk of them going bust. I think just building luxury cars and thats what they are ( mine is 66k€) is a very risk Strategie....

[@rarelyaccurate6252]

I've had a Polestar 2 for years, it's a great car. The best car I've ever owned. As a brand Polestar was always a brand with bipolar personality disorder. On the one hand they said they wanted to compete with Porsche... okay, then give your cars higher top speeds, constantly try to push the envelope in performance and make your fastest car, faster every year... meaningfully faster. At one point they put out a front wheel drive car... a FWD car, WTF?!? you do that shit and you're not a performance brand. That's fine for Volvo, but not a brand that claims it wants to compete with Porsche.

[@gratefulliving1760]

Polestar 2 felt much smaller than Model 3 inside. More difficult to find a charger for in the US. More expensive originally. Tesla factor is huge in the US. In order to be sold in large numbers there, a EV ought to be somehow noticeably more attractive than the Tesla model it competes with. Better made, more luxurious, significantly cheaper, filling a niche Tesla doesn’t fill, etc. In Europe, a EV would need to beat a competing german EV, in addition to Tesla. Polestar just didn’t provide compelling enough models, that’s all. Polestar 2 started getting some traction after significant price reduction, yet Tesla didn’t stand still and undercut it again. Tough market …

[@GlassActivist]

German EV are not the tops in Europe. Polestar problem is they don't stand out or stand out in a negative way vs competition.

[@AmineKouki]

I still think the Fisker looks cool. The ownership experience is probably awful, especially after filing for bankruptcy. But the cars look cool IMO. What a pity.

[@frankmynard6325]

You don’t remember when Standard Vanguards were common on Australian roads. Pronounced Van-gard

[@doriangray6985]

An american survey of 100,000 cars apparently highlighted that Polestar had one of the worst records for reliability

[@wieczo0]

Link please ?

[@jinxvrs]

@@wieczo0 It was a J D Power survey in the USA - three of the four bottom positions were filled by Polestar, Tesla and Rivian. Although the complaints were mainly about the infotainment, apps, lack of simple controls/buttons, Tesla's shit auto wipers. The actual battery/motors were not a concern, so not really anything to do with reliability.

[@carlmorris5484]

Polestar 4 will start manufacture in South Korea negating the European import duty

[@K9Trixx]

I would only get a Polestar 3 lightly used. Depreciation happens too fast to throw $70K plus at a new model.

[@Suburp212]

We need 5000 dollar electric cars, not more 100,000+$ cars.

[@xaionik]

They went chasing after Porsche and forgot that they had a budget. Time for cost cutting.

[@3184Patrick]

takes a lot of money to setup production of new cars and polestars whole lineup is basically new

[@TaxiTaxi-w2u]

Hi Sam great show as asaul.i do pray for your wife and family brother in Europe they've terrified the public about EVs so polestar is right bro

[@fairfeatherfiend]

Maybe it's spending too much money on the hydrofoil ferry.

[@SmartMart1658]

EV stock Polestar PSNY up 16.43% today beating Tesla. Polestar gets $5 analyst rating.

[@colincampbell3679]

As many said, they are well over priced for what you get! They just are launching the new smaller Polestar 4 in the UK soon. That will cost £60.000p here, why pay such a high cost when for the same or a little bit less you can buy a Tesla Model Y for that which a a million times better for the money. Their 1st EV the Polestar 1 cost £170.000p and they had lots of rich persons buy it so that's why the EV sales looked good at 1st. But Polestar 2 then came out a bit later on and it was also expensive as heck but was not the same as the 1st model? The 3rd one came out and again a not great EV and still very pricey, And people saw the Tesla EV's were tons better and had the super charger network and monitoring by the 360 degree cameras it has and went and brought that instead of the Polestar 2 and 3, So Polestar doubled down and has done a 4th version, But still over priced for the stats it has. I can't see Polestar carrying on if they don't cut prices in half and have better EV features for the money?

[@michaeledwards8079]

for £60000 you can buy an Audi A6 or a BMW 5 series, that are luxurious and less depreciation

[@KP-xi4bj]

@@michaeledwards8079 Why buy a dino juice sipping, coal rolling antique on 4 wheels, aka ICE car when you can futureproof yourself with a Tesla?

[@markbennett6658]

The Polestsr is arguably much more pleasing on the eye than any Tesla! The first very expensive one was a hybrid not a full EV. I actually see quite a lot of Polestar 2 on the roads in the UK so they must be doing something right? I think they’ve not been quick enough to expand the range though and a more budget sub £40K one would be welcome even if Polestar is supposed to be a luxury brand.

[@hargeaux]

Polestar 2,3,4 are objectively not bad cars. They aren't aiming to take market share from Tesla buyers, they are aiming to take it from BMW, Merc, Audi drivers. That's a tough ask, but I think it's possible.

[@markswan2961]

EV, firstly you said that Polestar announced “lower than expected demand” as a factor, you then converted that to “lower demand generally”’for EVs, which is not really what they stated. Nevertheless… Polestar’s pricing is definitely the issue and what holds them back from increasing their sales volumes. When they are asking upwards of AUD 80K for a USED 2022 Dual Motor P2 with all options, this makes no sense in today’s EV market. Sure they are a nice package, but the big delta in price is always going to keep their volumes down. The other thing which I believe limits their penetration is that they try to do the “total online experience” a-la-Tesla. This approach makes it that much more difficult for anyone living outside a major city to go and see, touch, drive a Polestar, and I think limits their market to buyers who are less informed and not EV nuts like all of us here. 😂 The reason Tesla gets away with that approach is because their brand is by now synonymous with EVs.

[@SmartMart1658]

Comparing Polestar to Fisker is stupid. Polestar has great products and is getting great reviews from the auto media - unlike Fisker who got the kiss of death from the likes of Marques Brownlee - and quite rightly so because the cars were rubbish.

[@antonkarridian2895]

At Tesla's 2024 Annual Shareholders Meeting, 1:55:08, Musk says, "So, achieving affordability is actually, at this point, more about the rest of the car than it's actually about the battery pack..." Polestar needs to reduce the cost of the parts going into their vehicles. I bought shares at $0.68. They've filed their 2023 annual and 1st quarter 2024, so they're not in danger of delisting. Looking ahead, this stock could easily jump after the US starts cutting rates and Polestar starts manufacturing at the Volvo plant in the U.S.

[@boyasaka]

I bought shares last month for $0.74 ( Just £2000 worth Fingers crossed it can get to 2 3 or 4 dollars

[@0keme]

En europa posiblemente venden menos, tal vez es el mercado de Polestar. Su gran problema son los precios en comparación con el resto de sus hermanos.

[@BrisbaneTeslaGuy]

I will say the seats are uncomfortable

[@chrispenn715]

Polestar was just too hard to buy in the UK for a long time - very few places you could see or test them, long delivery times and quite expensive. I just went elsewhere.....

[@boyasaka]

Should have bought a low milage 2 year old one for half the price of new

[@chrispenn715]

@@boyasaka wasn't an option at the time - there weren't any

[@boyasaka]

@@chrispenn715 o right Shame My pal just bought a 2022 one with 17k miles for £22000 He loves it

[@effingsix3825]

The great advantage that Tesla had over other EV makers is that the company had staggering amounts of subsidy for each car. Cars made in China and trying to be sold in the west don’t access the same subsidy. I think they should remove all subsidies and tariffs.

[@qilu2004]

Polestar cars are plain and way overpriced.

[@OneEyedMonkey9000]

You have to pay extra for the yellow seatbelt

[@tengsiangong8485]

Polestar Vs Zeekr confuse to the customer already

[@fullrulle77]

I think Geely is to blame. They could have started fewer brands and publicly state that they will continue to finance Polestar. It may work anyway when P3 and P4 starts selling more. The 3 has a lot of great reviews.

[@rozonoemi9374]

Maybe Geely wants to drop the brand in favour of pushing the Zeeker brand.

[@NLCWellness]

Are there any risks to you as a private person if you private lease say a polestar and they go bankrupt?

[@redmonke408]

I’m looking at a 100k loss and that’s massive for me. This company is such a disappointment. Is there any way they can turn this around? Does it need new management, more investors?

[@gsyl655]

EV company stocks have been down for the past year, including Tesla. With inflation and high interest rates, this is what happens to the auto sector, especially EV's, as people are more frugal making financial decisions and high rates lead to higher monthly payments. Whether Polestar can weather the storm is another question, but having Volvo and Geely helps them much more than many other companies, i.e., Fisker, Mullen, Lucid, etc. The other issue whether existing electric grids can handle this impending EV boom, as I suspect this "throttling" of EV growth is by design as governments scramble to catch up.

[@0xdawg754]

I am in the market for collecting Lucids ... literally the one EV firm should be bought out by customers

[@DavidInga7]

Feels like a bit of a retribution clip for a no email response from Polestar.

[@hawklutz]

Practical everyday C-class station wagon or hatchback at 25K USD before subsidies with at least 300 miles of highway range + 200k kms or 10 years warranty on the drivetrain+battery - that's when I'm purchasing an EV. Not interested in all those USD40-50K+ premium/luxury bs. Until then I'm driving my 2004 Buick LeSabre.

[@Actually-y7j]

Why EV companies going bankrupt?? I thought they are the future in your own words?

[@jedisparky]

A poorly run business is going to run into hurdles no matter how vibrant the industry is. If you can't account for your losses in way that investors understand, then you're going to be hard pressed to be a successful company.

[@s2d4]

Why are companies going bankrupt? I thought the share markets have been up since Covid? Why are kids getting dumber? I thought people are more educated than ever? Context matters, unless arguing for the sake of arguing is your thing.

[@davidbrayshaw3529]

They're future of bankruptcy. But it's not the fault of the EV itself. Polestar rate the absolute bottom of the pile in the recent JD Power survey. Ahead of it was Chrysler and then equal third worst vehicles, Rivian and Tesla. How long are you going to stay in business if you sell rubbish cars that are back at the dealership for repairs in the first three months? These manufacturers really have to start thinking about building serviceable vehicles that don't start falling apart as soon as you drive them off the lot.

[@chebrubin]

Hertz will rent you a Polestar P2 as a "EV Manager Special" much cheaper than a Tesla Model 3. I would say the ride is not great but the performance is good.

[@stevennewall5202]

there are plenty of Polestar vehicles on the road here in the UK

[@daddy_coolio]

That's exactly what i was thinking. Possibly the 2nd most commonly seen EV on the roads to a Tesla..? Round by me in Warwickshire anyway.

[@colonelccccc]

They will start to understand that people are poor and cannot afford the tarifs they're all asking for those cars, that's a good thing.

[@scottmcshannon6821]

if you ban afford an 80,000 ice truck, you can afford a 45,000 Ev.

[@zeedustrakok]

My main issue with polestar: I am not going to pay 70-80k for a car built in China. If it’s built in china I am not willing to pay more than 80% of the price I would pay if it were built in Europe.

[@eddiegill]

Isn’t it a Geely company?

[@garyclack3807]

They still make a good car

[@jamesroy791]

Not likey it's volvo so you will always be able to service it unlike fisker

[@elftax]

Why doesn’t Polestar just park its cars and claim record sales, then claim that it’s not a car but an AI/Robotics company with the potential of being valued at $30Trillion? Should be enough to increase its share price.

[@joseabreu5802]

Polestar em Portugal e para esquecer....ninguem compra

[@leeo268]

#1 complain. Too Expensive! Not many many buyers out there for ultra luxury expensive EV in this recession market.

[@klarafall4281]

It would be a shame if they disappear.