Group 1 - Polestar Automotive, controlled by Geely Holding Group's chairman Li Shufu, has seen its stock price plummet, dropping 16.25% on November 12 and an additional 5.97% on November 13, reaching a new low of $0.6264 since its SPAC listing in June 2022 [1] - Since its listing, Polestar's stock has declined by 94.4% over the past three and a half years, with disappointing sales performance in the rapidly expanding electric vehicle market, particularly in China [2] - Polestar's global sales figures from 2021 to 2024 show a decline, with only 163 vehicles sold in China in the first ten months of this year, leading to the closure of its last direct store in the country [2] Group 2 - The company's financial struggles are evident, with cumulative losses of nearly $6 billion (approximately 42.4 billion RMB) from 2021 to the first half of this year, and total liabilities exceeding total assets [2] - Volvo has been reducing its stake in Polestar since last year, while Geely has increased its investment, becoming the largest shareholder [3] - Geely's recent $200 million investment in Polestar, controlled by Li Shufu, has resulted in a paper loss of over 40% within five months due to the declining stock price [4] Group 3 - Despite a 51% year-over-year increase in global sales in the first half of this year, Polestar's sales remain low, and the company is far from reaching profitability [4] - Geely's ongoing financial support for Polestar raises questions about the sustainability of this strategy until the company can achieve self-sufficiency [4] - Polestar faces a delisting risk due to its stock price being below $1 for an extended period, needing to meet compliance by April 29, 2026 [4]
极星汽车股价三年半累计下跌94.4%，李书福5个月浮亏超40%