Michael Lohscheller, the new CEO of Polestar, the Sweden-based, China-controlled electric car company, yesterday claimed in a strategic review that “2025 will be the best year in the [company’s] history.” That’s largely because, profitwise, 2024 wasn’t great for Polestar, 2023 could hardly be described as stellar, and 2022 was nothing to write home about. 2021 and prior? Sadly, more of the same.
Polestar—which started life in 2005 as the brand name for a Volvo-tuning, gasoline-powered Swedish motorsports team, then transformed into an EV marque when Volvo bought the team 10 years later—has operated independently of Volvo since 2017, and it has yet to turn a profit. It
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