Swedish electric vehicle (EV) maker Polestar lowered its 2023 production guidance on Thursday and said it would cut headcount by 10%, citing a delayed production start for its Polestar 3 and a challenging environment for the industry.
Polestar said the production start of its Polestar 3 would be delayed until the first quarter of 2024 instead of the initial mid-2023 start. The company said the delay was due to Volvo Cars - which produces its cars and isCash and cash equivalents at the end of the first quarter were $884.3 million, compared with $973.9 million in the preceding three-month period. An operating loss of $199.4 million was narrower than a loss of $257.9 million a year ago.
Worries of cash running out have been a prevailing issue with EV startups, where many players have seen their initial market valuations evaporate, with few options for funding in a turbulent economy.from its two biggest shareholders Volvo Cars and Li Shufu-controlled PSD Investment,Shares in U.S listed Polestar were down over 6% in pre-market trading.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Global Plug-In Electric Car Sales Exceeded 1 Million In March 2023March 2023 was the second best month for plug-in electric car sales around the world, with volume noticeably above 1 million units.
Weiterlesen »
Polestar boss favours character over range for electric cars | AutocarDesigner turned CEO Thomas Ingenlath questions importance of efficiency and highlights “brilliant new ideas”
Weiterlesen »
Alpine reveals electric A290_β concept electric hot hatchThe Alpine A290_β concept previews an electric hot hatch due out in 2024 with a sporty exterior design and underpinnings sourced from Renault.
Weiterlesen »
Polestar Delays EV Launch, Cuts Volume Forecast: Volvo Also ImpactedThe Polestar 3 electric crossover's delays come alongside related delays to Volvo's EX90 electric SUV, which rides on the same platform and shares software.
Weiterlesen »
Dothan High School senior receives 2023 Sony ScholarshipThe Dothan Area Chamber Foundation and Sony Scholarship Selection Committee announced that the 2023 scholarship awardee is Sarah Caroline Herndon, a Dothan High School senior.
Weiterlesen »