Jul. 9 at 3:49 AM
$PSNY
Polestar wanted it, but it came from them, and they never objected because it was in their best interest.
About 94% of the brand’s sales in the first quarter of the year came from outside the United States, and Polestar has identified Southeast Asia, Eastern Europe, Latin America, and Canada as growth targets.
In Europe, the company is preparing the Polestar 5 luxury sedan for delivery this summer and will manufacture the upcoming Polestar 7 compact SUV in Slovakia, making it the first model to be assembled in Europe.
The best decision is to exit the US market to secure liquidity. After they stole
$1.3 billion, sales in the US aren't enough to cover the costs. They don't want advanced, modern cars; they want giant trucks that guzzle fuel. They're poisoning the planet. It's pure intellectual backwardness. They'll fall behind in manufacturing. Enjoy Ford, GM, and Tesla—the worst performers, with frequent breakdowns and poor build quality.
