Is Polestar Going BANKRUPT?
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- Опубліковано 1 сер 2024
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I think you forgot to mention that Geely is fully committed to Polestar, so basically it is a matter of separating Volvo and Polestar as brands.
I also dont get why you think the P4 is expensive and dont make sense. The basic version with the big battery is only around 7000$ more than the P2 and comes with more features. Also you have better options and i actually think the rear view camera is a better option. Think about how many new cars where you almost cannot see anything thru the rear window. The camera gives a much better view and will be a big plus during nighttime.
I think the P4 looks astonishing and I am going to purchase one at some point.
The only thing I disagree with here is night-time vision through a camera, it is not guaranteed to be good, or even decent...yet to be proven on that level.... and it will lack depth of field compared to a normal mirror.
@@philipkemp5129all mirrors lack depth of field. Our brains have calibrated to compensate.
The lidar built into Polestars is revolutionary.
@@ralphey8189 looking in a mirror is not the same as looking at a screen, if you think it is.... well good luck.
@@ralphey8189 the lidar is not even functional at this point, it is not on any of the currently available cars, so how can you say this? Its completely untested in the field by the public. you must be Polestar troll.
@philipkemp5129 spoken like a troll who hides behind his screen.
I made the distinction of looking in a mirror...you apparently chose to ignore.
Which suggests that you're ignorant of the lidar equipment and functioning. So I will decline any further discussion with you.
Part of the problem I've had is that there are not enough Polestar dealers to make enough sales. I'm surprised they didn't even offer sales through Volvo dealerships where there are no local Polestar dealers
There are no local Polestar dealers. There are some showrooms in main cities, but they don't sell any cars. It's been Polestar's concept since day one. Other car makers are going the same direction, just a lot slower.
@@everpuremusic and this concept is failing. There is no customer retention with this model.
@@JohnDoe-vx3z I am not saying it is good or bad. I just stated how it currently is. 🤷♂
If Toyota couldn't keep Scion brand viable having a brand that overlaps Volvo products is hard to justify. All the money spent should been plowed into Volvo and lift restrictions such as the speed limit and let Volvo chase performance also.
Elon:"there can only b one"😂😂😂
I think their prices is way too high!
P2 is an old car and built on a ICE chassie and they're charging premium prices?
And 50 000SEK for Plus package?
The really should lower prices like 15-20% at least on the old P2.
And maybe 10-15% on P3/P4
Polestar have spent 3 years or so building a reputation as a premium brand in western Europe, partly helped by their relationship with Volvo. There are lots of positive reviews and happy owners out there. They are well known to EV drivers now. This gives them a big advantage over other Chinese brands who don’t have links to European manufacturers and haven't yet done any reputation-building (like Zeekr). It wouldn't make any sense for Geely to throw that away so I'd be very surprised if the brand died.
Polestar isn't a Chinese brand. It's an offshoot of Volvo.It's just most people don't know that Polestar is/was Volvo's sports tuner and that Polestar is basically run by ex-Volvo designers and engineers set up in headquarters very close to Volvo's in Gothenberg Sweden..
Polestar received about $2 billion in additional funding . That happened in the Spring of 2024. That amount, according to Polestar, is enough cash on hand to cover operating costs for the next 3 years.
I love my P2 but I could cheat on it with a P4
I hope not. Its the only EV i want to continue owning. Its much better than our Tesla model 3. Polestar really knows how to build cars
Also have both. Except for energy efficiency, Polestar is the nicest ride.
My Tesla M3P is much faster and better and the charging network and software updates are much better.
@@jjohurso you also own a Polestar 2 and know how the updates work?
Much faster must be very relative term, but yes, my Polestar 2 AWD is 0.1 sec slower than my Tesla 3 AWD. It can use the superchargers by the way. @@jjohur
Another sign is that they are only selling existing inventory. You can’t custom order.
Your comment about Geely becoming the single direct « founder » for Polestar is very important. Chinese investors are patient… and Geely’s patience with Volvo has paid off, as you pointed out. The fact that Volvo invested in Polestar up-front was definitely set as an incentive to collaborate. If Volvo helped Polestar « well », it could theoretically reap the benefits for such help. Obviously when things go bad that incentive can become a burden and I am not surprised by this turn of events. How long did it take Tesla before making a profit on electric cars? Polestar is going through the same challenge…
The solution for Polestar is to take the company private and not publicly traded. Let them focus on building world class cars, without having to worry about meeting Wall Street “expectations”.
I'm interested in the 4 but i feel the price of Polestar cars need to be more competitive. Lots of times it's more expressive than a Tesla and that's not a good thing when they don't have the same network and their specs are lower.
yes but build quality, sustainability and design are much nicer IMHO
I agree with most of your assessment. Except for the 4 I think that one will do fine, especially as it seems to be pretty good lightly specced.
Polestar 4 should be about NOK 100k. cheaper in Norway than it is, imo. Then it might attract other buyers than just loyal Polestar 2 owners with deep pockets 😉
Isn't it true that other upstarts (even Tesla?) made no profit over the first few years of their life?
In any case: Would Geely allow Polestar to die? If they do - would you be inclined to buy a car from any of Geely's other brands then?
Most car companies don't make profits for years - they need some brand recognition, some good designs, to get their footing, and to make buyers confident enough to invest huge sums for their cars.
Of course! Zeekr 001. It's more luxurious, built at the same platform, and both are owned of the same company and builted i China.😉
@@boenillYeah, they're doing the multiple brands strategy where Polestar is more luxury than Zeekr.
@@boenill Same platform doesn't mean similar drive. Polestar has a different tuning group than Zeekr.
Polestar is launching 3 new models, all within the next 2 years. P3 (this Summer) P4 (late fall 2024) and P5 (2025). It’s highly unlikely that Polestar goes Chapter 11 with 3 new models hitting the market.
I leased a launch edition Polestar 2 Performance. I knew they were in trouble when in 2023 my local Polestar space closed and passed on warranty work to my Volvo dealer who didnt want to touch my car.
In my market all warranty work is done by a Volvo dealer, possibly yours as well. Seems very normal since Spaces are basically just retail and local customer support.
Sadly in my market, the sales space closed. It was in a mall and Polestar only has popup sales locations. They had a sales, service and delivery space where I got serviced for broken TCAM and broken door handles and this location is now closed. I called the two Volvo dealers and they cannot service my car. My only option is a 4-5 hour drive to a service center should something happen.
I think polestar need to reduce the options. Some packs should come as standard for the price they sell at.
Will be interested to see how the 3 and 4 sell as polestar sell great cars.
E.g. adaptive cruise and a heat pump should be standard and not part of option packages for 7 grand.
@@JohnDoe-vx3zNot to mention heated steering wheel.
I think they should add more options and not go the tesla way. One of the downsides with tesla as well is no fuckin options. You get the exact same car as your grandma😅
@@JohnDoe-vx3z They are. Adaptive cruise and heat pump are standard
In USA Volvo dealers service Polestars. Who does the service in Europe?
Volvo dealers. :)
I also heard that Polestar will still work with Volvo for future developments, so the cooperation is still there between the Volvo and Polestar. They make very good vehicles and they do well in the performance end so I believe they will have a good future.
Really, not much is changing besides Volvo not funding them. All the other ties remain.
Got our Polestar 2 MY24 LRSM last November and we just love this car!
I've said it before, but the P2 is overpriced. I was so close to getting one, and basic safety features like blind spot monitoring was not in the base model price, but in the pilot package, which at the time was a 3k to 4k upcharge. P2 should've started at low 40k, and it would've sold much better. They are dropping prices now, but it's a little too late imo.
Volvo and Polestar products ere essentially the same vehicles with different badges. This is just an internal restructure. Geely owns all of Volvo and Polestar there are some ties with Sweeden this is just a way of ensuring that if the holding company needs to pull the plug on either brand the collateral damage is reduced.
Polestar knows better than their potential customers. If Polestar cared there would be a wagon version of Polestar 2...
That already exists and it's called Volvo XC40.
@@everpuremusic XC40 isn’t a wagon. You are clueless 🤣
@@everpuremusic 🤦♂
Volvo was not willing to have competition within stadion wagon market from polestar.
@@dalegas76 Nobody cares about station wagons anymore in 2024. See EX90 vs. P3 - they're basically the same car, except Polestar focuses on "performance", while Volvo highlights safety and space, as they always did.
Soo... Polestar got a 0$/share evaluation by SEB. Then Geely could take over Volvo's Polestar stocks for free. Volvo's stock surge, because of the write-off of Polestar as a an asset.
Volvo can still benefit from the EV development in Polestar, since they are both under Geely control, and their HQ and R/D departments are literally next door to each other.
Geely can still freely share parts between Volvo XC40/Lynk&Co01/Polestar2, Volvo EX90/Polestar3 and Zeekr 001/Polestar4, since they own all brands (+ many more). And they are free to merge any of the companies into one, should they wish so in the future.
Sounds like Geely knows what they are doing?
I see it as an opportunity to disassociate themselves from 180km/h. 😂
Polestar cars doesn't have this restriction.
It is 205km/h on the Polestar 2.
Sweden for instance, has a 130 km/h speed restriction and with 200 km/h you not only risk your drivers license so why bother about those restrictions
@@thomaswestin9987Tires
Every time a manufacturer increases the maximum capable speed of a model, they have to specify a higher tire speed rating. EV tires aren’t cheap to begin with. Higher speed ratings also come with shallower tread depths to support higher rotational speeds, meaning that the tires wear out more frequently. Now if you had to actually fork over an extra €1000 just to brag about the top speed of your car in a country with national speed limits of 130kph and winter conditions for 4 months of the year, would you do it? Actually owning and running an EV, you learn very quickly that driving at 130kph for any distance cuts your suggested range by 30-50%. At 200kph, you are charging for as long as you drive. Nice fantasy, but reality?
My P2 is such an awesome car, I don't think there's much of a danger of bankruptcy, not at least if quality has anything to do with it. P3 has been delayed, so there's a dip in sales, which is understandable. Last quarter P2 sales are a bit worrisome, though. Still, new products on the way, I hope the P4 sells well.
Either they lower the price of P4 10k or it will be a disaster for polestar. Model Y will obliterate it, above all with the new refresh is coming out this year. New interior with a better quality than 2023 MY, much better efficiency than P4, much more cargo space, the new LFP Golden Battery with an 800V system, 500km of recharge in 15 min, and 95kWh pack. Model Y will offer so much more for a lot less price.
I love the design of P4, but it's now in polestar court. Either the slash the prices down or it's game over.
@@barygol Not everyone wants a Model Y despite all the hype around Tesla. Polestar 4 has a lot of style and stands out. And Polestar isn't going for volume like Tesla is. They just need to sell what they project to sell. I think the car has the style and likely the driving dynamics to do so. I think the US price is OK, can't say anything about the price elsewhere.
@@benjaminsmith2287 exactly my point. They are selling waaaaay less than what they projected to sell and it's due to a bad price policy. I, myself, prefer P4 to the model Y, but you cannot pretend to sell many pricing it 23k more expensive. It doesn't make any sense. They haven't adjusted the price with the current market. Either they follow the market or they will go bankrupt
I'll pay the premium for a better built and better looking car. MY and for that matter all Teslas lack the build quality. I own a P2 and bought a M3 for my son. Prefer the P2 lot more than Tesla. I'm ordering the P4 when my P2 lease ends.
The P4 is a fabulous looking car that, IMO, was never intended for the American market…because Americans prefer big SUV’s and trucks. But that’s not the case in Europe and much of the rest of the world.
I don’t think polestar is in real trouble
But I agree that the 2 is very long in the tooth and is a dubious value proposition. I think polestar needs to get off their high horse being so expensive
And I agree that the 4 is a miss. At that price if someone can afford an 85k car, I’d rather just spend a tiny bit more and get the Macan.
If the p4 is a miss, what will save them? The 5 and 6 aren’t it. The 3 is cool but a hard sell every the EX90.
I like the brand but I’m not seeing much good in the horizon.
I think the Polestar 4 might sell ok, but I also think many of the customers will be people that was considering the Polestar 3. Almost same cargo space in P4, more efficient so slightly better range even with smaller battery & a little bit cheaper.
Hows is it same cargo space? P3 is a big suv while p4 is a sedan
It’s way too expensive
@@danielstefanovic2604p4 actualy has more Cargo. 520 (p4) 470 (p3)
P4 is the cheaper one😂
I think they should have joined VOVLO Dealers, more Ad to people know the brand... And of course, the prices.... may be too high for not such a premium brand.. (?)
Greetings !
You have to be real if your volvo you don’t want completion in your retail showroom space, your trying to sell Volvo not PSNY. The 4 will sell very well and 3 is they need to make it competitive with its competition pricing
These SEB-analysts could have a totally other opinion next quarter, but for now...yes, but Geely have a nice product portfolio at hand and they can share technologies and platforms like few others. Looks like a winner.
I think that the major issue about polestar is the fact that is unknown to many people; I do a lot of tests on Polestars and people usually ask my if it's a new car from Ciroen, because of the badge that looks a like. Also, I feel that pricing is wrong. They make you pay a lot for essential equipment that should came as standard. I'm ok to pay 5 thousand euros more for a polestar 2 than for a equivalent Model 3... but having to pay more 10 or 15 thousand euros is not ok, because I don't get more for it. For example I considered to buy a polestar 2 but because of the price difference I end up buying a Tesla model 3.
Agreed, I like the Polestar 4 but I think it's 10k EUR too expansive here (Belgium)
Again from Belgium. I order my polestar 2 single long range, agree with your comments, in Europe , France is a big country but polestar was until,recently not available through the logo story with Citroen !! I was also hesitating with the polestar 4 but the difference of price between the 2 and the 4 made me choose for the 2 (currently at least in Belgium they are huge discount on model 2. +/- 5000€ discount !!!!
Polestars look like Volvos. The P2 has Volvo Thor's hammers, same colors inside and outside, same type of creases, seats look the same, and on and on. They don't look French. They don't look Chinese. They don't look German. People don't know the name but the Polestar 2 is a Volvo design and looks like one. The 3 and 5 and 6 look Volvo like as well. The 4 is different because it is Zeekr based.
Polestar needs to tell the world we are a premium, European brand that is closely affiliated with Volvo cars . They need to tell the world of their Swedish roots and racing heritage. That could be done in various ways. Take advantage of Volvo's reputation for safety and durability too.
Yeah but what good is all that when it’s Chinese owned. Nobody affiliates good things with China. Cheap, low quality, mass produced and unethical is what comes to mind and now they own Volvo and Polestar. Not a good look
8:58 - if there's a brand with a more compelling future line up...? i haven't seen it.🤙
was just at my nearest Polestar showroom over the weekend looking at the new updated 2 and i like the updated fascia, and for me personally it's the fact that it IS built on the shared CMA platform that makes it so appealing since it keeps everything small and compact with a short 107-108 inch wheelbase (hint: this is same as a Corvette C8 and the Rimac Nevera).
for better or worse, the misguided obsession with skateboard platforms (by amateurs and laymen i might add) is part reason why every new EV is a GIANT LUMBERING BEHEMOTH.
Porsche?
@geraldh.8047 Q: Porsche? A: not even close, for even a lightly optioned 2WD Taycan tester i had last year weighed in at over 5100lbs with driver.
so you can bet then the new updated models (with their even bigger battery packs and hydraulic suspension taken from Low Riders) are going to be absolute TANKS. for sure it's a nice tank, but it's a tank nevertheless.
sadly we can expect the same then for the Electric Macan.
@@phillyphil1513 I don't really understand your reasoning. The Macan 4 Electric according to EV database has an empty weight of 2405kg. The Polestar 3 according to the PDF brochure has an empty weight of 2584kg. And your complaint is that Porsche is a tank and Polestar has a better (lighter?) line up? Polestar 3 is 2230kg (RWD) and 2355kg (AWD).
This all is incredibly close and a distinction without a difference. Those cars are all pretty heavy. Also: I love the new Polestar 3/4 allthough they are to big for me and I love the new Porsche Macan4/TaycanRefresh even though they are to big for me. But those are along with the Eletre the most desireable cars IMHO if you don't care that they are huge and a bit pricey. The good thing about the high price is that the price drops if you buy a 1-year used one. The length and size does not drop with age though 😞
I’m glad I’ve only bought 1,5k of polestar stock. I’m down 87%, so at this point it’s not a point of selling. Polestar need their P3 and P4 to be successful but with Tesla cutting their prices monthly I don’t think they can compete. If Polestar survives the next 6-12 months I think the stock eventually will start to rise again.
They just announced they are cutting their workforce world wide by 15% I bought stock too and it’s in the gutter right now. Wondering if I should collect my Pennies before there’s nothing to collect
Maybe you're right, but Geely has many brands now, and at some point they might have to choose which one costs too much to keep alive!?😳
One thing I don't understand is the price of the Polestar 4. Geely's new brand Zeekr comes with a direct competitor to it with the Zeekr 001, which is priced at about 760K for the most expensive version of the car in Sweden. 😳 Zeekr can sell that car for 640K in Norway if we take into account the lack of VAT.
Who buys a Polestar 4 for about a million then?😳😂😂
tried zeekr briefly, maybe I got an early/bad version, but the quality was nothing like PS and I also like the sustainble design thar PS aims for. Plus there are no cars that look as good IMHO.
So why doesn't Zeekr sell as well as Polestar does😂
@@s.d.918 The Polestar 4 has barely gone on sale yet, and the Zeekr 001 was recently introduced in a couple of countries in Europe. So what do you mean by that?
Kris, what do you know about software issues with the Volvo EX30? My test drive was cancelled by the dealership here last week because “software updating problems” meant the car was a non-runner…………
Was fixed here in Iceland last week.
Rumor was that the preheating into charger was not working and no customer delivies where allowed without
They should add all extras to the current prices and it would be fine consumer's really dislike adding things that should be standard some extras but polestar make you add to much
TL:DV > Easier just to equate to a wider Geely EV strategy play allowing Volvo, Polestar and Lotus to capture market share.
I agree about P4. I spec’d a performance one at £75k. It’s unaffordable for most people and the P3 is even more. Makes a Tesla Y very competitive.
Polestar's packaging is nonsensical to me. Hiding basic tech in expensive packs turns me off the cars entirely.
Most of this is restructuring, and if you read Volvo's CEO's one take on it, it is the end of incubation of Polestar by Volvo and handing control over so it can focus on its own business. Also Polestar still only has one car to actually sell, its launched the 3 and 4 but you can't actually get one, and the 3 has hit production delays and delivery times to customers by 6 months at least.... so no sales from either of them. Patience and education are needed here.....
Polestar has one problem, new model 3, which has more range more power, better tech and it’s cheaper, in US it’s $15-20k more expensive than model 3.
I love my Polestar 2, it is due for replacement in August this year, I agree that the design is dated and to have another for 3 years it will be way out of date then. I have looked at the PS4 would consider it, but not at the price offered, it needs to fill the gap in falling PS2 sales and price of the PS4 needs to be much Closer to PS2 to even get a look in.
One thing that wasn’t mentioned is that they actually lowered the price on P2 quite aggressively here in NL and added Plus package as standard on most models. I imagine they will do the same to other markets eventually.
As a P2 MY24 buyer that saddens me, but it is clear they are struggling. Let’s hope P3 and P4 will bring them some sales so they can bring P5 to the market. I wonder if they will bring P6, because it won’t bring the volume they need. The P7 (P2 replacement) would do so.. but the question is if they’ll make it.
Personally I think the decision to separate it from Volvo is the wrong direction. They should have just reintegrated it with Volvo and start making faster versions of Volvo models again. Just imagine an EX30 Polestar, now that would sell! 😄
Same in the USA.
Same in Finland. P4 looks promising as well as P3. Considering P4 because it is so much cheaper than P3. But I am supriced How Porsche Macan EV is starting 85k€, which sounds temptating. A Porsche has a pedigree, which Polestar is missing.
THey have a different business model and style than Volvo. They should speak of the connection to Volvo but keep their own branding. Polestar is a lot more stylish and sporty than Volvo.
From a financial standpoint, it looks bad, their gross margin is almost non-existent, and on top of that there are R&D, administrative costs etc. I am not sure they will increase those margins simply by selling more cars. Tesla has consistently put gross margins between 20-30%.
I think Polestar wanted to be APPLE of automotive industry - expensive and not for everyone. Problem is their strategy of "light asset company" where they own nothing but design/IP, and they don't control manufacturing costs seem not to work.
They will need new financing soon, they said another 1billing $, and they already are few billions in red. And they don't have assets to cover that debt.
Tesla had all sorts of struggles when they were the same age as Polestar and almost went out of business several times. So, it's not a direct comparison. And Tesla is annoying in that they keep yo-yoing their prices which is messing up a lot of carmakers making/selling BEVs.
@@benjaminsmith2287 True about Teslas struggles, but they had no competition at that time in EV market. They had CEO that worked 24/7 and slept in the factory when needed. They had control over manufacturing process. Polestar has none of that.
Despite Tesla's price cuts, they bring billions of dollars each quarter to the company. They innovate in manufacturing processes, Polstar innovate in taking rear window out and putting camera instead. I'd like Polestar to succeed, cause I really like the design, but that's not what will make them succeed. They need to take manufacturing costs down, but again - it seems not likely that they will as they don't control it (volvo/geely does).
Polestar 4 was appealing when it was announced, but since then, a lot of more appealing EVs has arrived with 50% of the cost! Polestar really needs to reduce their prices to remain competitive. I really like the Polestar 4, but the price does not make sense at all! I would only buy it if it's 30-40% discount. Ownership change would be a good thing I agree.
Polestar needs to upgrade the P2 ASAP. The P3 is a beauty but a slightly bigger P2 could replace it.
Volvo Cars stock is down 60% from it's ATH...
The Polestar 4 looks expensive on the surface. However, the highest spec PS4 is cheaper and better specification than the new base model Porsche Macan EV. It also has better internal space.
It’s a silly comparison
@ulf5738 The new Porsche Macan is supposed to be a Coupe SUV.... The PS4 is supposed to be a Coupe SUV.... both aiming at the luxury market. The performance PS4 is similar to the performance Macan yet cheaper than the base Macan. So why is that a silly comparison. If you want SILLY... then let's look at the MG4 X-power vs the Porsche Macan.
@@mikadavies660A Porsche is a Porsche and it’s a symbol of status. If you have that kind of money most people will go for German known brands. A PS4 is a Chinese car and there are many many Chinese cars to choose from. Let’s be honest man. Not many people buy expensive Chinese cars these days. Look at sales numbers the last 6 months.
@ulf5738 I got it but Polestar are trying to say they are a "quality brand"..... I'm not supporting their claim or say I agree with it. Just comparing alleged quality brands.
Personally I wouldn't have either.
@@ulf5738 It's not a Chinese car. It's based on a platform engineered by a Swede and on a car designed in Sweden (Zeekr001) but has been tuned and spec'd by Swedish engineers and retooled to have the road characteristics of a Polestar. If marketed right, it's a less expensive alternative to a German car for those that want something that feels European but isn't necessarily German. That's what Volvo is. And that's what Polestar wants to be on the sportier end of the market.
I think you are wrong on P4, it can pull 2 tons (not many electric cars that can do that), it has top performing long range, design wise it is playing in the same league as BMW and Mercedes + what looks like great riding comfort for 5 persons. For a lot of families who does not want a "cheap" car but does not want to spend the extra 20k-40k on a higher end car its perfectly in between. The plus package price is a bit ridiculous though!
I like my P2 very much, the lovely design. I would be up for a new purchase. I have no worries about Polestar is filling for bankruptcy. Geely has deep pockets and enough time to develop the brand. But most of the comments are right - P3 and P4 are way too expensive for an unknown brand like Polestar. I would be happy to put my bucks into an electric Macan instead.
Polestar IS in trouble. Polestar 2 is old. Polestar 3 and 4 are too expensive. They have no cheap EVs. They have spent all their money and can’t afford to design a cheaper car from scratch. It all depends on how much the stockholders want to lose before they say enough.
Hows polestar 4 too expensive. Ofc it is more expensive than the model y, it’s more luxurious. The performance version is still less expensive than the new base Macan. That’s pretty good value.
@@plastiquemaraj8839 It’s a Chinese car. You can get a Mercedes, Audi or a BMW for cheaper price. There are many Chinese cars to choose from and the competition is insane in that price range. With the current interest rates it’s not a volume car. Polestar should have gone for cheaper models.
@@plastiquemaraj8839 it’s just another Chinese car and almost twice as expensive as Model Y. And in that price range there is plenty of competition.
polestar 2 is not old. not many even know about the brand
@@ulf5738 It's not a "Chinese" car. You don't know the pedigree of Polestar. It is at least in the same category as Volvo and actually a bit higher since the performance enhancements come at a cost. Polestar is not a mainstream car brand.
Polestar is facing some troubled waters lately, coming to this competitive market with a sedan based on an ICE Volvo prototype (The Volvo 40.2) and make it an EV was already a challenging move.
Spend the first three years selling only a sedan in an SUV world has challenged the financial growth.
Announcing the Polestar 3 last year and start selling it after 12 months (Software issues) wasn't also ideal.
Dealing with different platforms (The 2 and 3 are Volvo based, the 4 is Zeekr based and the 5 and 6 will be their own) isn't the best financial strategy. I don't see Volvo getting out of Polestar like a big issue as they both belongs to Geely, so, no big deal here. My fear is that the 2 isn't selling well and the 3 and 4 are too pricey IMO, I'm just afraid that, without an "entry level, affordable" offer, Polestar will struggle to finally raise...
Let's see what future bings and let's remember how Tesla was almost bankrupt a few years ago…
I don't think the 4 is too pricey. It needs to sell in Europe and North America. The 3 should be pricey IMO. It a top Kia EV9 costs $75000 than a more performance oriented and more premium Polestar 3 at $80,000 seems like the correct price to me. The Lucid Gravity is going to be in the $70,000 but that's to start with.
Good riddance to Volvo. They greatly hamstrung Polestar….BECAUSE, Polestar and Volvo were always going to compete against one another in the EV market. It’s a no brained - A polestar success does NOT help Volvo. period.
I think you are spot on about the company. And hope you're wrong about the 4 (as I have ordered one already) Se you are the Expo in Lillestrøm 👍👍
I've always wondered why Polestar were launching new models continuously while not fully being mature with their flagship model 2.
The model 2 is not a flagship. It's their only model and it's their entry level model.
I just got mine. Love the car.
It will constitute a qualitative leap and shift in design and engineering in the automotive industry. The best shape ever, these are the cars of the future
There’s going to be a bloodbath amongst electric car makers.. they’ve abused the semi conductor crises by hiking the prices and aren’t realizing the emotions re car owner ship. I hate the minimalist trend started by Tesla..
Every Polestar owner/driver I've talked to LOVES their Polestars. Stylish cars.
Volvo and Geely: *2 SpiderMen pointing at each other meme*
Interesting. I have two Model 3 Tesla's and will need to replace the leased one. Looking at the Polestar 4: Unlike your assessment the P4 seems to fit in perfectly to the Model 3 type EV segment. It looks great i.e., better than an SUV or a Sedan. The P4 seems attractive and practical for the right person. I think the rear view camera is long over due. Lets move forward; A rear window is so yesterday. IMHO.
Plus, lacking a rear window means you get more room in the back. Saw a review and that's the main plus. Way more room to the point you can recline the rear seats and you never have people in the back seat blocking your view.
Rebranded as Geely, cut prices to 50% (double Polestar badge)
It's a lovely design (I *really* like the PS4 look), but too expensive with the current fast developing market and contenders. They have really oddly price options, with over 2000 Euros here for a tow coupling (which I need for bike transport). Sure, I think it's one of the motoroized or at least magnetically deployable tow couplers, but 2000+? What on earth? The cars paitns aren't cheap, either. So the base price is IMHO misleading. They keep repeating their mantra of "high quality" etc, but high quality is also sold by other brands nowadays. They mention the bigger battery, which is a bit moot with not really great efficiency. In peoples minds, they're still an "online store" with very, very little presence at least here, with just two actual physical stores. I think with their unclear position and this fact of having no people to talk to everywhere in the country (despite saying we can go to Volvo^Garages), they're rather ambitious to ask people to order an untested car at those prices. Sure, a Mercedes AMG EQA is way, way more expensive, even after reductions, still. But I think that is not their opposition, Their opposition is Kia, Hyundai, Tesla, Smart etc. Those brands are not offering cheap quality anymore since a while.
My issue with the polestar 2 as I can’t review the 3 or seen the 4 yet in person , under the body is a brilliant piece of engineering, especially in performance edition but the issue is software it hasn’t aged every well , maybe iOS desktop would make it feel more fresh, but there reliability on initial releases in us were plagued with issues and random shutdown’s, this isn’t typical of polestar buy a long shot but some bugs have been there from the beginning even after the refresh , I don’t feel they are going anywhere, but right now they are a one trick pony straight line speed , ithe biggest issue polestar 2 is just a little tight I get the pole 4 but they should refresh the body and software pronto
Polestar need a cheaper model like Volvo EX30 and a new Polestar 2.
They need to start selling PS2 in higher volumes and this by making the price more competetive in all the european markets. It is not understandable to see how for instance in NL the same specced model costs 6.500€ less than in AT.
I don't think they will be selling PS4 or 3 in high numbers to make real profit out of it.
Dumb ass of the Week Award to Kris Riffa
They simply cannot compete with Tesla at current prices, at least in the states. That is largely due to import tariffs in our market. The PS2 should be $45k-60k, not $55-75k.
Hertz cut the contract with Polestar as well. Too expensive and not enough infrastructure. The EV is dead for now and will take couple years.
Macan EV turbo is 40k more expensive than Polestar 4 with top trim. so Polestar 4 is the best deal
What a shame. Volvo should never have spun off Polestar. They should have kept it as its performance line and expanded that. Not just a Polestar engineered option, a whole separate line for Volvo models - similar to Mercedes AMG or the BMW M.
Polestar2 is a major flop. They tried pricing them for $85k in my country and no one bought them. Just look how many 1-2 yr old P2 there are with 50% discount now. The Polestar 3 and 4 will hopefully sell well but they need to adjust the ridiculous pricing.
100%
Polestar 4 should have targeted Tesla Y. The other issue is the lack of models ready for sale and the cannibalism with Volvo.
Geely is massive and polestars are amazing! The answers NO 😂
In order for Polestar to achieve a god position They need to makes way better sales, and the market is not having an available ammount of people for highpriced cars….something like Volvo EX 30 would help sales….Volvo was smart to Launch it now, to make sales numbers
I feel like the Polestar 4 is indeed a bit too expensive, as in, too close to the Polestar 3 (which is a magnificient car). Though the 4 specs wise is a more efficient car than the 3, same cargo almost, good interior space and well .. a bit cheaper.. so it might still have some space. I think the rear window thing is a farcry by many, like honestly, all EVs with a rear window but no wiper are just as good without a window imo. The 4 looks good, I do prefer the 3 though also. About the Polestar 2, I think it still looks very good today.. somehow the XC40 Recharge still sells and that car is in my opinion worse except for the higher ride. The cockpit feel in a Polestar 2 is something you gotta like or not like. I live with it coming from a fairly sized SUV and I'm fine with my kid in the backseat. Plenty of space tbh. It's just lower. That being said, I doubt that Polestar will go bankrupt, somebody just did the numbers at Geely and noticed it's better to pull out Volvo and keep their balance sheets fine and also the autonomous factor for Polestar comes into play. I believe they'll have it way smoother in summer when all 3 cars are being delivered. I also believe they'll postpone the 6 and get a 2 refresh out with the 5. The 2 refresh will go on a bespoke EV platform by the time the 5 has launched.
I am a huge fan of polestar cars. I really like the 3 and also the 4. I think that the 4 may be canibalizing on the 2 though. All in all I think they will do good.
great designs , but really so expensive! ..
They are not moving inventory and burning cash. How deep is Geelys pockets?
yes
I hope not. Although I will never be able to afford one myself (my budget is more Kia/Hyundai, I have never been able to afford “premium” cars), I believe the more EVs the better and I gather the new Polestar 2 is a big improvement on the previous version. Tesla first few years were absolute hell and the company only started making profits when they ramped up Model 3 production. Hopefully with Geely behind it, Polestar will survive.
Volvo's seen the drop and dropping them, Meaning Volvo shares will soon be rising again. Get in there asap.
Who will service polestar now? Because of that it is scarry to buy polestar..
Volvo services them.
All car manufacturers have a dilemma, 2 productions, ICE and EV, political pressures, legislation, banning ICE vehicles in legislation, they are getting mixed messages and forced to produce and the general public just isn’t convinced , huge charging issues,cold latitudes are just not that great for battery vehicles, electric vehices were great around 1870 before natural evolution and ICE took over and were far better!
volvo is going bankrupt aswell. Their latest cars are total crap (engine wise), yet they cost more than Audis, Bmws and Mercs. Crazy.
LOL! Somebody didn't watch the video! 2023 was the best financial year Volvo have ever had and they have been increasing sales year on year for a decade now. So they are FAR from going bankrupt. According to different surveys done they seem to be average in reliability. And no, they don't cost more than their competitors. That's just a lie. So, try again there matey.
@@KrisRifa yeah they've had record sale. Yet this may be the top. Don't get me wrong, I'm huge Volvo fan actually. Had volvos for past 20 years, but since they went on some weird path since 2015 (engine wise) I'm probably done with them, for now. I just can't understand, how on earth does old volvos (pre 2014) have better fuel economy and engine reliability than newer ones, and then there are mild hybrids which are another (worse) story. That's probably the reason why there are so many low mileage volvos selling in used market and they can't sell. I guess people who bought them new are disappointed with them. So I assume they are most likely not coming back for a new volvo, and that's why sales/revenue might drop in coming years.
The Polestar 2 is flawed but I still chose it even in this market. I see literal dozens of the same looking Tesla's within a mile leaving my house. Some are into that sense of community, but I love that people don't even know my P2 is an EV. They don't even know what brand it is period. The Performance pack / BST are the only special models, everything else is competing in a space it doesn't have a chance in.
They need to pick a lane. Actually be very premium and very sporty. They say they are going after Porsche more than Tesla - so start acting like it! Porsche is undeniably premium, incredibly sporty, has insane charging and efficiency, and yes expensive. Polestar is just mediocre at all of that, they aren't even playing the same game. Staying the course will be the end of them.
Polestar's biggest challenge is that they have failed to establish a unique identity separate from Volvo. All of their sold models not only resemble Volvos but actually are Volvos. Furthermore, most of their customers are existing Volvo enthusiasts who may have opted for a Volvo instead of a Polestar if the latter did not exist. And for those unfamiliar with Polestar, they might perceive it as another Volvo model that cannot be found at any Volvo dealership or on the Volvo website.
In retrospect, Volvo should have allowed Polestar to grow under its wing longer to gain recognition before positioning it as an independent brand. It remains unclear how Polestar can differentiate itself under Geely, considering the presence of other brands such as Volvo, Lynk & Co, Lotus, Zeekr, Smart, Geely Cars, etc).
Geely Auto, Smart isn't the competition for Polestar. It's Volvo and Zeekr that are. Lotus is in a higher category. I don't know why Geely created Zeekr but it does compete with both Volvo and Polestar where both are sold.
Polestar are just to slow delivering models
Compared to Tesla, they're not. People need to be patient. Volvo has delayed the Polestar 3 and that's the problem. The 4 is on schedule and the 5 seems to be as well.
I nearly bought one, heard about this and declined
Polestar 4 makes no sense? Huh? It may become the best selling Polestar made. It's a competitor to the Model Y size car. I don't think the Polestar 5 has anything to do with the Emeya. It was seen long before the Emeya and I don't even think they share the same platform.
I don't think much will change with Volvo/Polestar. It's just a financial maneuver. Geely was always the parent company financing both. The difference is, Volvo has many models to sell. Polestar has one hatchback sedan and that's it. It's hard to make money off of one car.
Firstly, the EV market has been swamped with stupidly expensive cars, secondly Volvo is a well established brand with a long history and garages etc whereas Polestar not so, If I were Geeky I'd just amalgamate Polestar into the Volvo brand. And the Polestar 2, why is there no estate/station wagon variant, that's just crazy mad not to have developed a small affordable compact estate touring variant.
The wagon market is soft. That's why. Polestar is doing the correct thing by making sporty crossovers.
Why Volvo make ev cars when they can earns via polestar? Now why polestar why selling expensive over Volvo?? All no make sense to me at all! Which one is madness? Volvo or polestar?!
Polestar - good EVs but too expensive. Folding them back into their ultimate parent Geely makes a lot of sense given the ongoing investment needed.
They come from Volvo, not Geely. Geely is the parent company. Polestar, if folded back, should go back to a division of Volvo. Geely has CEVT and that's where Zeekr comes in. But Zeekr isn't established outside of China yet the way Volvo or Lotus is because Lotus and Volvo are legacy European brands they acquired. Polestar is an offshoot of Volvo.
To finance Polestar is better for Geely because they have deeper pockets.Volvo needs to finance their own operations but Polestar and Volvo are still developing cars in parallel and Volvo is still servicing Polestar and building the Polestar 3 in its US Volvo factory.
The online only model is failing, its low margin and its where brands scramble with tacticle discounts to hit numbers. I has always been a fan of P* but i was undsrwhelmed driving one for a few months, its not a low slung saloon but offers none of what an SUV does, the rear window closes off the boot, plus an android suatem that can't talk to an android phone, yet the apps in the android car system are almost non existanct. Big cente tunnel taking up space, feels heavy over bumps, ice design to frunk is small. Good forst effort but left behind ny model Y and hyundai platform cars with rapid charging
Expensive and not enough models, 3 and 4 just took too long and 3 is is too expensive. They need a small hatch/crossover ASAP like the EX30
They don't need to make the 6. The 2 needs to be updated instead of making the 6.
ZEEKR 007 needs to be devoled in the updated Poleatar 2
Don’t understand your assessment of P4 at all. With normal spec, it’s a lot cheaper than P3 and way more practical for normal needs. Plus it’s beautiful. I think it’s going to do very well
@KrisRifa time to change the title of this post as Polestar got 1 billion USD in external funding?
P4 is streets ahead of P2 -
Geelly will dump polestar.