Reported 9 days ago
Swedish electric vehicle manufacturer Polestar plans to increase European manufacturing as U.S. tariffs and global trade tensions pose challenges for the automotive sector. The company reported a 76% increase in first-quarter sales, driven by discounts aimed at attracting Tesla customers, despite uncertainties in the global market. CEO Michael Lohscheller highlighted the necessity of localization to mitigate tariff impacts and announced plans for expansion into Eastern Europe and Brazil.
Source: YAHOO