Polestar Automotive reports third quarter deliveries and updated plans

Polestar Automotive Holding UK PLC sponsored ADR Class C (PSNYW) has released an update.

Polestar Automotive delivered around 11,900 vehicles in the third quarter of 2024, with a total of 32,300 units for the year, although sales were expected to be similar to 2023 and were targeting a positive gross profit margin by the fourth quarter. The Geely-backed company is adapting to market challenges, including import tariffs and discussions over credit agreements, while moving to a more aggressive sales model. A strategic business update is planned for January 16, 2025 with reduced Q3 reporting to focus on long-term goals and annual reporting.

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