Polestar Faces Challenges Amid Leadership Change and Market Struggles

The EV manufacturer reports lower deliveries, financial losses, and navigates new tariffs as it appoints a new CEO.

Polestar's Q2 deliveries fell 16% year-over-year, contributing to a 27% decline in first-half sales.
The company posted a $541 million net loss in the first half of 2024, up from $341 million the previous year.
CEO Thomas Ingenlath steps down, replaced by Michael Lohscheller starting October 1.
Polestar secures $300 million in external funding to stabilize operations.
New tariffs on China-made EVs impact Polestar's production and sales strategy.