Very bad news... If I wanted to be as pessimistic as possible...
"Swedish EV maker Polestar misses target for 2023 deliveries"
Polestar has not reached its delivery target for 2023. The brand delivered around 54,600 electric cars worldwide last year, falling short of the annual target, which was recently lowered to 60,000 electric cars.
-40% is the drop that
PSNY
experienced during the previous earnings announcement... Appointment in 22 days...
Stock market is absurd... indices are soaring to the sky in orbit.. and the EV sector is collapsing like a house of cards.
By the way, Volvo is accelerating its descent into a downward spiral... someone is likely to be fired if this continues. Stocks are plummeting after Polestar missed its annual sales target, and Volvo is temporarily halting production in Belgium due to the situation in the Red Sea.
Geely trims its stake in Volvo Trucks, redeeming bondholders with shares worth over 7 billion SEK ($911 million), reducing ownership from 8.2% to 6.8%. The move aligns with Geely's communicated strategy, emphasizing a strategic, long-term investment in Volvo. This follows Geely's divestment in Daimler Truck Holding last year, sparking speculation about its influence at Volvo. Despite changes, Geely maintains a steady presence in the automotive landscape.
Polestar has not reached its delivery target for 2023. The brand delivered around 54,600 electric cars worldwide last year, falling short of the annual target, which was recently lowered to 60,000 electric cars.
-40% is the drop that
PSNY
experienced during the previous earnings announcement... Appointment in 22 days... Stock market is absurd... indices are soaring to the sky in orbit.. and the EV sector is collapsing like a house of cards.
By the way, Volvo is accelerating its descent into a downward spiral... someone is likely to be fired if this continues. Stocks are plummeting after Polestar missed its annual sales target, and Volvo is temporarily halting production in Belgium due to the situation in the Red Sea.
Geely trims its stake in Volvo Trucks, redeeming bondholders with shares worth over 7 billion SEK ($911 million), reducing ownership from 8.2% to 6.8%. The move aligns with Geely's communicated strategy, emphasizing a strategic, long-term investment in Volvo. This follows Geely's divestment in Daimler Truck Holding last year, sparking speculation about its influence at Volvo. Despite changes, Geely maintains a steady presence in the automotive landscape.