Polestar's Q3 2023 financial results reveal a challenging market situation, which forced the company to reduce its expected EV deliveries to 60,000.
Polestar's third-quarter financial results reveal a challenging market situation, which forced the company to reduce its expected electric car deliveries in 2023 to around 60,000. Previously, Polestar expected 60,000-70,000 deliveries, which was already reduced from the initial guidance of 80,000 units. In Q3, deliveries amounted to 13,976 electric cars , while during the first nine months of the year, the company delivered 41,817 cars.
84 billion , although the losses are more than two times higher at $468.4 million . The financial situation at Polestar appears to be stable, with $951 million in cash on the balance sheet and $450 million in new loans from Volvo Cars and Geely Sweden Automotive Investment AB – an affiliate of Geely Holding .
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