Polestar to Reduce Global Workforce by Approximately 15%

Polestar announced plans to lay off around 450 positions worldwide, citing challenging market conditions. This comes amidst concerns about cooling electric vehicle (EV) demand. The company expects the auto business to start breaking even by 2025. At the time of the announcement, Polestar had received loans amounting to roughly $450 million from Volvo and Geely. It’s worth considering the broader implications of Polestar partnering with Tesla’s Supercharger Network in China.

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