Electric vehicle maker Polestar on Thursday posted a smaller quarterly loss, maintained its 2023 production outlook and said it would not engage in price wars while weakening demand has forced some rivals to scale back output.
While some carmakers have followed Tesla's lead and cut EV prices, Polestar says it has no intention of doing so, taking the same stance as former parent company Volvo Cars. Demand for electric cars has weakened for U.S. EV startups Rivian and Lucid, with both carmakers forecasting 2023 production well below analyst estimates.
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