Reported 12 months ago
Swedish EV-maker Polestar experienced a decrease in revenue and widened losses in 2023 as it struggled with reduced demand for its higher-priced models. The company's U.S.-listed shares dropped by 3.1% to 80 cents, and its stock has declined over 63% this year. Polestar attributed the revenue decline to factors such as reduced investment from Volvo Cars, slower EV demand, and challenges like range anxiety and competition from lower-priced hybrid vehicles.
Source: YAHOO