Polestar(PSNY) The Motley Fool·2024-06-17 16:46Core Viewpoint - The stock price of Polestar Automotive has seen a significant increase due to optimism surrounding its new sales model and expansion plans, despite a year-to-date decline of over 65% in shares as global EV sales growth has slowed [1][3]. Group 1: Company Developments - Polestar shares surged by as much as 30% at the start of the trading week, ultimately closing up by 18.5% [3]. - The company announced a new sales model and executive additions to support its growth strategy [2][8]. - Polestar plans to manufacture its Polestar 3 SUV at a Volvo plant in the United States and is also looking to establish a factory in South Korea [4]. Group 2: Market Expansion - The company aims to enter seven new European markets by next year, including France, which is the second-largest EV market in Europe [5]. - Polestar's strategy includes expanding its retail operations through partnerships to reach more customers and leverage its brand [5][7]. Group 3: Leadership Changes - New executives from Volvo and Chinese EV maker Nio have been appointed to bolster Polestar's expanding commercial operations [8].