Polestar 4 Electric SUV Coupe Deliveries Slated Before Year-End In China, Confirms CEO
Portfolio Pulse from Anan Ashraf
Polestar Automotive Holding UK PLC (NASDAQ:PSNY) CEO Thomas Ingenlath confirmed that the Polestar 4 electric SUV coupe is on track to start production in November, with first customer deliveries expected in China by year-end. Deliveries to the rest of the world are planned for early 2024. The price of Polestar 4 is higher than Polestar 2 but lower than Polestar 3, and is closer to the price range of Porsche Macan. Polestar reported an adjusted EPS loss of $(0.16), missing the consensus loss of $(0.12). Despite this, the company still expects to deliver 60,000-70,000 vehicles in 2023.
September 01, 2023 | 4:35 am
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Polestar reported an adjusted EPS loss of $(0.16), missing the consensus loss of $(0.12). However, the company expects to deliver 60,000-70,000 vehicles in 2023, and the Polestar 4 is on track to start production in November.
The news of the Polestar 4 production and expected deliveries could be seen as positive for the company. However, the reported EPS loss, which was worse than expected, could negatively impact the stock in the short term. The expected delivery numbers for 2023 indicate that the company is optimistic about its future performance.
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