Polestar Faces Financial Struggles with $450M Impairment

Despite widening losses and a drop in revenue, Polestar remains optimistic about new EV models boosting future sales.

Polestar's revenue fell 3% in 2023, with operating losses rising 13% to $1.46 billion.
The company reported a $450 million impairment related to Polestar 2 assets and inventory.
Polestar delivered its first Polestar 3 SUVs this week, expanding its market presence.
Volvo Cars, holding a reduced stake in Polestar, anticipates minimal financial impact.
Polestar aims to sell over 155,000 vehicles next year, a significant increase from 2023.