The Gothenburg-based electric car manufacturer Polestar reports an operating loss of $30.8 million for the first quarter of 2024, compared to $23.2 million in the same quarter the previous year.
Revenue for the first quarter of this year fell 36 percent from the previous year to $345.3 million.
The global delivery volume in the second quarter, presented along with the report, increased to approximately 13,000 cars, compared to 7,200 cars in the first quarter of the year.
These figures follow Polestar’s report of an operating loss of $1.46 billion (approximately SEK 15.5 billion) for the full year 2023, released just last week.
Since Volvo Cars spun off Polestar at the end of June 2022, the company has lost 93 percent of its market value. Since the beginning of this year alone, the decline has been nearly 60 percent.
Currently, Volvo Cars owns 18 percent of Polestar, down from just over 48 percent at the start of the year.
SpotlightSweden 
SpotlightSweden