**: Overseas Network.
Overseas Network, February 4 According to the British "Telegraph" on February 2**, Polestar has been in a serious state of loss recently, and Volvo's announcement of divestment is the latest blow to the company.
The data shows that in the first nine months of 2023, Polestar lost 7$30.9 billion. Polestar postponed the launch of the Polestar 3 in 2023 and lowered its delivery target from 80,000 to 70,000 and then to 60,000, for a total of 54,600 deliveries for the year. Volvo said on the 1st that it will no longer provide financial support to Polestar and is considering giving its 48% stake** to other shareholders, including Geely.
Peter Wells, director of the research center at Cardiff University in Wales, UK, said that Polestar is a new brand, and the models are expensive and difficult to sustain in a very competitive market. While Polestar tried to catch up with Tesla, its models didn't achieve the same sense of luxury.
According to the report, Volvo's electric vehicle business has also suffered a setback, with 16% of Volvo's sales currently being electric, and it is still some way from achieving its goal of 50% electrification by 2025, requiring more investment, and at the same time being reluctant to fund Polestar. (Overseas Network Li Fang).