Electric carmaker Polestar doesn’t look to be in the best of shape. Earlier this month, the company said it missed its 2023 sales targets as a result of high inflation, low demand and a price war sparked by Tesla and Chinese EV maker BYD.
The company delivered 54,600 cars globally in 2023, and while that was a 6% improvement from 2022, was well down from the 84% growth it enjoyed in 2021. More importantly, it was short of its target of 60,000 cars, which had been revised from the target of 80,000 vehicles set at the beginning of 2023.
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