Polestar delivers 11,900 cars in Q3

Polestar delivered approximately 11,900 cars in the third quarter, taking total deliveries for the first nine months of the year to 32,300. With current market conditions and announced import duties impacting the automotive industry, the company expects revenue in 2024 to be similar to 2023 and to achieve a positive gross profit margin in the fourth quarter. The company reaffirms its target of achieving cash flow break-even towards the end of 2025 – at lower volume than previously targeted. Given market conditions and the Company’s anticipated performance in 2024, the Company, alongside Geely, is engaged in constructive dialogue with its club loan lenders, who remain supportive, regarding its loan covenants.