Polestar News
Polestar CEO Michael Lohscheller said the automaker, which is part of billionaire Li Shufu’s auto empire, has decided on a different setup in the world’s largest auto market.
Previously, the EV maker’s Polestar Spaces would provide potential customers information, but then they were asked to make an online order.
Hugues Bissonnette, head of Polestar Canada, said the company will leverage new product and a freshly expanded sales network to keep up momentum.
Volvo expects price cuts to come as EV demand remains weak and automakers brace for European and U.S. tariffs on electric cars made in China.
Combined registrations for MG, Smart, Polestar, Great Wall Motors and BYD fell by 24 percent last year. The decline was due to high prices and low brand recognition.
Polestar plans to enter the fast-growing premium compact crossover segment.
The EV maker says the compact SUV will be aimed at “the world’s fastest growing and most profitable premium segment.”
The Commerce Department said it planned to soon propose rules barring Chinese software and hardware in larger commercial vehicles, including trucks and buses.
The company reported a 37 percent rise in order intake compared to a year earlier.
The EV maker heads into 2025 with new executives in the CEO, COO and CFO jobs.
