How Polestar aims to reach breakeven next year, boost sales tenfold by mid-decade

Polestar’s plan to go public via a merger with the special-purpose acquisition company Gores Guggenheim in the first half of this year forced the Volvo Cars subsidiary to do something it had decline to do since it was born in 2017: provide detailed sales and financial targets. Polestar CEO Thomas Ingenlath said that revealing the electric car maker’s midterm plan -- which includes boosting sales to 290,000 by 2025 from 29,000 last year and reaching breakeven in 2023 -- was “absolutely terrifying.” He added, however, that making the targets public has been a great motivator. Ingenlath also explained how Polestar was spared from the worst of the chip crisis and revealed a big change the company has made in the U.S. during an interview with Automotive News Europe Managing Editor Douglas A. Bolduc.