The company is enhancing its retail presence with both current and new partners by transitioning to a nongenuine agency sales model throughout Europe. Customers can still configure and order their Polestar vehicles online or through the growing network of Polestar Spaces and service locations, simplifying the purchasing and ownership process. Sweden and Norway adopted this sales model earlier this month, with more key markets to follow in the latter half of the year. To support profitable growth in existing ...

The stock jump reflected some optimism that the company's expanding vehicle lineup and new sales plan can jump-start its volume. But it also comes after shares have dropped more than 65% year to date as global EV sales growth has slowed. A big commercial announcement is the reason for the pop. The Swedish EV brand jointly owned by Volvo and its Chinese parent company, Geely Automobile, announced a new sales model as well as executive level additions. Shares of electric vehicle (EV) maker Polestar Automotive ...

Polestar shocked investors again, and its stock is now down 94% from its high. Polestar Automotive (PSNY -7.15%) stock got crushed over the last week of trading. The company's share price ended this week's session down 37.1% from last Friday's market close, according to data from S&P Global Market Intelligence. Polestar confirmed on May 23 that it was postponing the release of its first-quarter earnings report due to ongoing accounting issues. Notably, the electric vehicle (EV) specialist still has not rele ...

Polestar Automotive Holding UK PLC (PSNY) may get delisted from Nasdaq after repeatedly missing the securities regulator's deadlines for submitting financial reports. Per Nasdaq's notice, the Swedish EV manufacturer has 60 days to submit a plan of compliance after failing to file its full-year 2023 and first-quarter 2024 financial reports promptly. Originally, the company was expected to file its full-year 2023 financial report in February. The deadline was then pushed to the end of April, which the company ...

Polestar (NASDAQ:PSNY) stock is in focus today on speculation that the firm could be hit hard as President Joe Biden and his administration launch tariffs against Chinese electric vehicles (EVs). Indeed, The Wall Street Journal reports that the Biden administration will quadruple tariffs on Chinese-made EVs. Other green energy goods like solar cells and batteries are being targeted as well. Based in Sweden but backed by a Chinese firm, Polestar is one of the few China-related brands with a stake in the U.S. ...

Market optimists dueled with pessimists and won out, despite a negative development with the company.Hump Day proved to be something of a street obstacle for electric vehicle (EV) maker Polestar Automotive (PSNY 0.72%). On a large piece of quite discouraging news, investors sold out of the company's stock early in the day, before it recovered to land weakly in positive territory at market close. The market is currently looking for bargains in the EV space, and some obviously consider Polestar to be a potent ...

Polestar has high hopes -- but investors are starting to lose hope.Shares of Polestar Automotive (PSNY -10.65%) fell 14.4% through 10:40 a.m. ET on Monday, the stock's third straight day of declines since reporting exceptionally weak car deliveries for the first quarter. Last Thursday, Polestar said that it delivered only 7,200 electric vehicles (EVs) in the quarter. Not a good numberA year before, the company delivered 12,076 EVs, meaning that 7,200 figure was a 40% decline in deliveries for the Sweden-bas ...

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) Q4 2023 Earnings Conference Call February 29, 2024 8:00 AM ET Company Participants Thomas Ingenlath - Chief Executive Officer Per Ansgar - Chief Financial Officer Bojana Flint - Investor Relations Conference Call Participants Tobias Beith - Redburn Atlantic Alex Potter - Piper Sandler Winnie Dong - Deutsche Bank Itay Michaeli - Citi Dan Levy - Barclays Andres Sheppard - Cantor Fitzgerald Operator Good day, and thank you for standing by. Welcome to the Polesta ...

Investors had been losing confidence in electric vehicle (EV) maker Polestar Automotive (PSNY 13.66%) over the last month. That is until today. In that time Swedish automaker Volvo announced that it would stop funding the EV start-up in which it owns a nearly 50% stake. That came after Polestar said it would miss its 2023 vehicle production target.The company delivered 54,600 vehicles last year, versus its target of about 60,000. But after an announcement of new funding and an optimistic business outlook ye ...

Polestar (NASDAQ:PSNY) stock is on the rise Thursday after the electric vehicle (EV) company announced progress on its joint venture with Hubei Xingji Meizu.Polestar notes that this joint venture, which it owns 49% of, is dedicated to brings EVs to the Chinese market. The latest news is the joint venture signing a subscription agreement with an investor.This has the Nanjing Jiangning Economic and Technological Development Zone Industrial Equity Investment Partnership agreeing to purchase $208.4 million wort ...