Polestar EV sales jump in Q1 on discounts like its ‘Tesla conquest’ bonus

Quick Summary:

Swedish electric vehicle maker Polestar saw its first-quarter sales jump 76% compared to the same period in 2024 after it began offering discounts and other promotions, including ones geared toward locking in Tesla owners.

Polestar sold 12,304 cars in the first three months of the year compared to 6,975 in Q1 2024.

It won’t be clear for a few months how the discounts have affected Polestar’s margins; the automaker said in February that it would delay publishing its full-year and Q4 2024 earnings until the end of April after it secured a $450 million loan to keep the company afloat as it burned through cash.

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Article Details

Author / Journalist: Rebecca Bellan

Category: Technology

Markets: United StatesChinaJordanSouth Korea

Topics: EVs Electric vehicles Polestar Transportation

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-10 @ 14:23:41 (6 days ago)

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Article Length: 649 words

Reading Time: 4 minutes read

Sentences: 21 lines

Sentence Length: 31 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TechCrunch

News ID: 27860689

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