Polestar Announces $304 Million Loss

Polestar Announces $304 Million Loss

Continuing on its own after leaving Volvo, Polestar continues to report losses one after another. 

Polestar, which hit the road in 1995, joined Volvo after 10 years and gained a successful momentum. Later, after the sale of Volvo to China's Geely, Polestar entered the electric car market, which once again parted ways. 

Polestar, which was offered for sale in 30 different countries in 2022, has increased its market network day by day, but its sales have never been realized as expected. Due to software delays and increased competition, it announced a loss of $ 304 million in the second quarter of 2023. 

The decline in success momentum, especially in the Chinese market, could not be stopped by the rise in Europe and Sweden. We don't know what kind of days await Polestar in the future after the share prices dropped by 65%. 

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