Core Points - Polestar is recalling over 27,800 Polestar 2 electric vehicles in the U.S. due to rearview camera display issues that may not show an image while reversing [1][2] - The recall affects 2021-2025 Polestar 2 models produced between July 2020 and late November 2022 [2] - The issue is attributed to a synchronization error between the Parking Assist Camera and the Infotainment Head Unit [2][4] Recall Details - Owners of the recalled vehicles will receive notification letters about the recall on June 19 [3] - The problem will be addressed through a software update that ensures a stable high-speed signal connection and includes a reset feature for the video signal receiving hardware [4] - Polestar 2 was first introduced in the U.S. market in 2020, but the company no longer manufactures this model for the U.S. [5] Company Overview - Polestar is a Swedish electric vehicle manufacturer that sells its products in 27 markets globally [5][6]

Core Viewpoint - The electric vehicle (EV) market is experiencing turbulence, particularly affecting Tesla, which has seen a 40% drop in shares this year. This situation may create opportunities for smaller EV manufacturers like Rivian, Nio, and Polestar to gain market share and investor interest [2]. Rivian - Rivian's vehicle deliveries surged by 147% to 50,122 in 2023 but are projected to rise only 3% to 51,759 in 2024 due to supply chain constraints and competition [3][4]. - For 2025, Rivian aims to deliver between 46,000 to 51,000 vehicles as it faces additional plant shutdowns and component shortages [4]. - Despite a challenging outlook, Rivian's gross margin improved from negative 188% in 2022 to negative 24% in 2024, with expectations of a modest gross profit in 2025 driven by lower manufacturing costs and higher-margin software sales [5]. - Rivian's enterprise value is $12.6 billion, trading at 2.3 times this year's sales, which is significantly lower than Tesla's 6.9 times [6]. Nio - Nio's deliveries grew by 39% to 221,970 vehicles in 2024, recovering from a slowdown attributed to supply chain issues and competition [8]. - The company launched the lower-end Onvo L60, priced at $20,500, which resembles Tesla's Model Y, contributing to its market share growth [8]. - Nio's annual vehicle margin improved from 9.5% in 2023 to 12.3% in 2024, aided by a higher mix of premium vehicle sales [8]. - Nio has an enterprise value of $8.9 billion, trading at 0.7 times this year's sales, indicating a potentially attractive investment opportunity [9]. Polestar - Polestar's deliveries increased by 6% in 2023 after an 80% surge in 2022, facing delays in launching the Polestar 3 due to software issues [11]. - The company anticipates a revenue decline in the "mid-teens" for 2024, impacted by slower sales in a challenging market [11]. - Polestar is offering "Trade in Your Tesla" deals of up to $20,000, which may attract customers as Tesla's brand perception declines [12]. - Analysts project Polestar's revenue to more than double in 2025 with the launch of the Polestar 5 and expansion of manufacturing facilities [13]. - Polestar's enterprise value is $4.6 billion, trading at 1.0 times its projected sales for 2025, suggesting significant upside potential if operational issues are resolved [13].

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. NEW YORK, March 29, 2025 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Polestar Automotive Holding UK PLC ...

Core Viewpoint - Rosen Law Firm is reminding investors who purchased Polestar Automotive Holding UK PLC securities between November 14, 2022, and January 16, 2025, of the March 31, 2025, deadline to become lead plaintiffs in a class action lawsuit [1]. Group 1: Class Action Details - Investors who purchased Polestar securities during the specified Class Period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A class action lawsuit has already been filed, and interested parties must move the Court to serve as lead plaintiff by March 31, 2025 [3]. - The lawsuit alleges that Polestar made materially false and misleading statements regarding its financial statements, internal control weaknesses, and overall business prospects during the Class Period [5]. Group 2: Rosen Law Firm's Credentials - Rosen Law Firm emphasizes the importance of selecting qualified legal counsel with a successful track record in securities class actions, highlighting its own achievements, including the largest securities class action settlement against a Chinese company at the time [4]. - The firm has been consistently ranked among the top firms for securities class action settlements, recovering hundreds of millions of dollars for investors, including over $438 million in 2019 alone [4].

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Polestar Automotive Holding UK PLC due to alleged violations of federal securities laws, encouraging affected investors to come forward [3][5]. Group 1: Legal Investigation and Claims - The law firm is urging investors who suffered losses exceeding $100,000 in Polestar between November 14, 2022, and January 16, 2025, to discuss their legal options [1]. - A federal securities class action has been filed against Polestar, with a deadline of March 31, 2025, for investors to seek the role of lead plaintiff [3][8]. - The complaint alleges that Polestar's financial statements were materially misstated and that the company failed to disclose internal control weaknesses [5]. Group 2: Financial Restatement and Market Reaction - On January 16, 2025, Polestar announced that its audited financial statements for the years ended December 31, 2022, and December 31, 2023, contained errors that necessitated restatement [6]. - Following this announcement, Polestar's Class A American Depositary Shares experienced an 11% decline in intraday trading on the same day [7].

Core Viewpoint - A class action lawsuit has been filed against Polestar Automotive Holding UK PLC for alleged violations of securities laws, specifically related to false and misleading statements made by the company during the class period from November 14, 2022, to January 16, 2025 [1][4]. Group 1 - The Schall Law Firm is reminding investors of the class action lawsuit against Polestar for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 [1]. - Investors who purchased Polestar's securities during the specified class period are encouraged to contact the firm before March 31, 2025, to discuss their rights [2]. - The lawsuit claims that Polestar materially misstated its financial statements and failed to accurately communicate weaknesses in its internal controls, leading to misleading public statements [4]. Group 2 - The Schall Law Firm specializes in securities class action lawsuits and represents investors globally [5]. - The class in this case has not yet been certified, meaning that until certification occurs, investors are not represented by an attorney [3]. - Investors are invited to join the case to recover their losses once the truth about Polestar's statements was revealed [4].

Polestar Automotive Holding UK PLC ( PSNY ) manufactures and sells electric vehicles with the Polestar brand. The company primarily sells cars in the UK and a number of other European markets, but also in the US, Korea, China, and inI am an avid investor with a major focus on small cap companies with experience in investing in US, Canadian, and European markets. My investment philosophy to generating great returns on the stock market revolves around identifying mispriced securities by understanding the driv ...

Core Viewpoint - Rosen Law Firm is reminding investors who purchased Polestar Automotive Holding UK PLC securities between November 14, 2022, and January 16, 2025, about the March 31, 2025, deadline to become a lead plaintiff in a class action lawsuit [1]. Group 1: Class Action Details - Investors who purchased Polestar securities during the specified Class Period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A class action lawsuit has already been filed, and interested parties must move the Court to serve as lead plaintiff by March 31, 2025 [3]. - The Rosen Law Firm emphasizes the importance of selecting qualified legal counsel with a successful track record in securities class actions [4]. Group 2: Case Allegations - The lawsuit alleges that during the Class Period, defendants made materially false and misleading statements and failed to disclose significant issues, including materially misstated financial statements and understated internal control weaknesses [5]. - As a result of these misstatements, the defendants' claims regarding Polestar's business operations and prospects were deemed materially false and misleading [5].

Core Viewpoint - A class action lawsuit has been filed against Polestar Automotive Holding UK PLC, alleging that the company had internal control weaknesses that led to materially misstated financial statements during the class period from November 14, 2022, to January 16, 2025 [1][2]. Group 1: Allegations and Financial Restatement - The complaint claims that Polestar failed to disclose significant internal control weaknesses and that its financial statements were materially misstated [2]. - On January 16, 2025, Polestar announced that its audited financial statements for the years ended December 31, 2022, and December 31, 2023, along with certain unaudited interim financial information, contained errors that necessitated a restatement [3]. - The affected financials include both audited and unaudited reports, specifically for the six-month periods ending June 30, 2023, and June 30, 2024 [3]. Group 2: Market Reaction - Following the announcement of the financial restatement, the price of Class A Polestar ADSs fell by $0.135, or 11%, closing at $1.0850 on January 16, 2025, with higher-than-average trading volume [4]. Group 3: Class Action Participation - Shareholders may be eligible to participate in the class action against Polestar, with a deadline to file as lead plaintiff by March 31, 2025 [5]. - Shareholders do not need to actively participate in the case to be eligible for recovery, as they can remain absent class members [5].

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Polestar Automotive Holding UK PLC due to alleged violations of federal securities laws, with a deadline for investors to seek lead plaintiff status by March 31, 2025 [2][4]. Group 1: Legal Investigation and Claims - The firm is encouraging investors who suffered losses exceeding $100,000 in Polestar between November 14, 2022, and January 16, 2025, to discuss their legal rights [1][2]. - The complaint alleges that Polestar's financial statements were materially misstated, and the company failed to disclose internal control weaknesses, leading to misleading statements about its business and operations [4]. - Polestar announced that its audited financial statements for the years ended December 31, 2022, and December 31, 2023, along with certain interim financial information, contained errors that necessitate restatement [5]. Group 2: Market Reaction - Following the announcement of the financial restatement, Polestar's Class A American Depositary Shares fell by 11% in intraday trading on January 16, 2025 [5]. Group 3: Class Action Details - The lead plaintiff in a class action is defined as the investor with the largest financial interest who is adequate and typical of class members, overseeing the litigation on behalf of the class [6]. - Any member of the putative class can move the court to serve as lead plaintiff or choose to remain an absent class member without affecting their ability to share in any recovery [6]. Group 4: Additional Information - Faruqi & Faruqi, LLP is also seeking information from whistleblowers, former employees, and shareholders regarding Polestar's conduct [7].