月销仅6辆，曾对标特斯拉的豪华品牌被曝要退出了

Core Insights - Polestar, a luxury electric vehicle brand jointly created by Geely and Volvo, is facing severe challenges in the Chinese market, with monthly sales dropping to single digits and total sales for the first half of the year being less than 70 vehicles [1][2] - As of the end of 2024, Polestar's net assets are reported to be negative $3.329 billion, indicating insolvency. The previous $200 million investment has not resolved fundamental issues, and major shareholder Volvo has stated it will not provide further financial support [1][8] - Polestar's product positioning is unclear, oscillating between ultra-luxury and mainstream markets, leading to a confused user profile. The company has seen seven changes in its China CEO over eight years, reflecting internal management chaos [1][4] Sales Performance - Polestar's sales have plummeted, with June 2023 sales reported at just 6 vehicles, and total sales for the first half of the year being under 70 vehicles [4][11] - The company has closed its online car purchasing system and now operates only one direct sales store in China [2][4] Financial Situation - Polestar's total assets amount to $4.054 billion, while total liabilities are $7.383 billion, resulting in a net asset deficit of $3.329 billion. Cumulative losses from 2020 to 2024 exceed $5.1 billion, with a projected net loss of $2 billion for 2024 alone [11][12] - The company's market capitalization has fallen to $2.3 billion, less than one-tenth of its valuation at the time of its IPO in June 2022 [11][12] Management and Strategy - Polestar has undergone frequent leadership changes, with seven different CEOs in the China region over eight years, indicating instability in management [4][16] - The company has struggled with product definition, launching four models that shift between ultra-luxury and mainstream markets, which complicates brand recognition and consumer trust [14][15] Market Position and Competition - The competitive landscape for electric vehicles is intensifying, with Polestar's current sales performance being significantly below the survival threshold of 20,000 monthly deliveries set by other new energy vehicle brands [4][12] - Polestar's reliance on Volvo's existing fuel vehicle platform for its electric models has resulted in subpar performance in terms of space utilization, range, and technology acceptance among consumers [14][15]