![]() Expect a continued decline in the face of a lack of newsflow. This is a momentum-driven name and, despite the ongoing rally in equity markets last week and strong moves in the EV sector thanks to TSLA, Polestar lost over 20% on the week. ![]() PSNY stock was always likely to suffer once newsflow dried up, as we expected and explained in some of our earlier articles. Polestar does have ambitious plans to deliver 300,000 units by 2025. Sounds impressive but compared to Tesla's number of over 250,000 for the last quarter we can see how far behind Polestar is. Polestar delivered 21,200 cars in the first half of this year, an increase of 125% yearly. But not to be left behind PSNY stock also was boosted by a strong delivery number earlier this month. TSLA stock recently has moved sharply higher on the back of strong delivery numbers despite headwinds from Shanghai and supply chain issues. Polestar by comparison has a long way to go to catch up. The company led by Elon Musk has worked hard to create a unique identity and is one of the most recognized brands in the world across all sectors, not just cars. The biggest advantage TSLA has – over not just Polestar but all EV newcomers – is brand recognition and strong customer loyalty. Tesla also has a host of awards to its name. As for design, well that is a personal matter but price-wise the Polestar 2 currently starts at $40,900 and was recently named the "Best Premium Electric Car of the Year" by Autotrader UK. Visibility is increasing steadily but TSLA remains well ahead of all auto manufacturers due to its large head start and total commitment to the EV space. PSNY was relatively unknown in the US until earlier this year when it launched a cheeky Superbowl ad taking a dig at both Tesla and Volkswagen. The Polestar 3 shown in the picture below shares various design cues with Volvo and shares the sleek Scandinavian look and feel of Volvo cars. It will use V olvo's manufacturing factories in China and South Carolina in the US to make the new vehicle. Polestar can leverage the existing Volvo network which gives it considerable manufacturing advantages. SUVs are currently the highest margin vehicle type for all auto manufacturers. The Swedish EV automaker initially launched a hybrid model – the Polestar 1 – before moving to all-electric with the Polestar 2, a sedan model. Polestar 3 is an SUV model due for release shortly and is integral to the next stage in PSNY's development. ![]() Volvo acquired Polestar in 2015 and led to the current iteration of the company, where the electric vehicle company was brought to the equity market by Gores Guggenheim via a Special Purpose Acquisition Company (SPAC) deal under the ticker GGPI, which then transformed into PSNY upon completion of the SPAC deal. The relationship between Polestar and Volvo began as a high-performance modified version of Volvo cars under the name Flash/Polestar racing. The story evolved from a racing relationship between the two brands into its current guise where the Swedish automaker and its parent Geely are the major shareholders in Polestar. Polestar and Volvo have a long and storied history going back over 30 years. Polestar fell sharply on Friday to close at $8.91, a loss of 6.8%.Īlso read: Tesla Stock Deep Dive: Price target at $400 on China headwinds, margin compression, lower deliveries Polestar: The story so far Polestar stock has struggled to hold any gains made last week and has not benefitted from huge gains seen in sector leader Tesla (TSLA). Polestar announced strong delivery growth last week, PSNY stock continues to edge high despite heavy resistance above $10.Tesla recovering did not help PSNY shares.PSNY stock fell nearly 7% on Friday as momentum and news flow dries up.There are channels from which you don’t want to see any articles? No problem, you can easily mute these channels.If there is a news source you would like to follow separately, you can create a dedicated channel for it as well.You can also set the order of the channels. If you are interested in a category, you can create a new channel for it.In the TOP channel we collect all important news stories, you can personalize your TOP channel by choosing the categories from which you want stories to be included on this tab. ![]() Our hard-working bots are continuously scanning and analysing news stories from more than 100 publishers to bring you the latest, most important and trending stories, so that you won’t miss anything. Personalize your Newsflow app: choose the topics you are interested in, pin the sources you want to follow, mute the ones you don’t like. Follow the most important and latest news stories from various news sources!įollow the most important and latest news stories from various news sources.
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