Polestar Automotive Holding UK PLC Sponsored ADR Class C (PSNYW) has released an update.
Polestar Automotive has released its full year 2023 results, indicating a gross profit margin consistent with prior guidance before accounting for significant non-cash impairment charges totaling approximately $450 million. Customer deliveries for the Polestar 3 model have commenced, with production in South Carolina expected to start by late summer. The company has corrected previously announced accounting errors for 2021 and 2022, with less than a 5% impact on net loss for each year, and plans to publish its Q1 2024 results and Q2 2024 global volumes on July 2, 2024.
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