Whereas some automakers are chasing science fiction, others are grappling with the cruel realities of now: the automobile trade is a troublesome rattling enterprise to be in. Swedish automaker Polestar is in disaster. Its EV gross sales are tanking, the share value has hit rock-bottom and now it is aware of that it must mount a comeback.
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Additionally on immediately’s agenda: Stellantis CEO Carlos Tavares will step down in 2026 amid a broad administration shake-up on the multinational conglomerate. Plus, the auto trade is giving Donald Trump the heebie jeebies. He hates EVs, he thinks hydrogen-powered vehicles are at all times blowing up and now he is very, very involved about autonomous autos. (I hate to confess it, however I do share a few of his considerations relating to AVs.)
30%: Polestar Needs To Flip Issues Round, Badly
InsideEVs
It actually does. However first, let’s do a actuality test.
The automaker launched world third-quarter gross sales on Thursday and issues do not look good. Polestar delivered 11,900 vehicles in Q3, a 14% year-over-year drop because it delivered 13,900 vehicles throughout the identical interval final 12 months.
Within the first 9 months of the 12 months, it delivered 32,300 models throughout the globe. Volvo, by comparability, fared much better with its battery-electric and plug-in hybrid car gross sales. It delivered 30,174 models of BEVs and PHEVs in September alone, internationally.
This is what new Polestar CEO Michael Lohscheller mentioned in a press launch:
Polestar has a terrific basis to construct upon, with entry to the very best EV expertise, a world manufacturing functionality and powerful assist from Geely. Along with the administration staff, we’re conducting a evaluation of our technique and operations, to set out a transparent path for Polestar’s growth.
A key to our future success would be the growth of our industrial capabilities: going from exhibiting to actively promoting vehicles. Adopting a extra energetic gross sales mannequin is already supporting our ambitions, as the primary markets to implement it are exhibiting stable order consumption.
There have been some basic points with Polestar’s EV technique. Ever because it grew to become a standalone efficiency EV model separate from Volvo, it has struggled to distinguish itself.
I’ve tried explaining to my associates outdoors of the automobile trade what Polestar actually is, however I wasn’t shocked after they did not get it. To them, Polestars appeared like barely cooler-looking Volvos. And I do not blame them.
In an SUV-dominated world, the automaker fielded the Polestar 2 sedan for a very long time. It was a one-car model. That modified not too long ago with the Polestar 3 SUV and the rear-window-less Polestar 4 coupe. InsideEVs had an opportunity to evaluation the Polestar 3 and we discovered that it is a stable possibility, however maybe not fairly the game-changer Polestar wants.
However the automaker alone is not accountable for the robust state of affairs it finds itself in. The Polestar 2 is made at mother or father firm Geely’s manufacturing facility in China’s Zhejiang province. Meaning the U.S. tariffs have hit Polestar laborious.
Fortunately, the Polestar 3 is manufactured at Volvo’s South Carolina plant and the North American Polestar 4 coupe is produced at Renault’s plant in Busan, South Korea to sidestep tariffs on Chinese language EVs.
Plus, Polestar is adopting a brand new distribution technique that may fast-track car supply to dealerships in order that prospects do not have to attend too lengthy. With Volvo’s assist, it is creating new logistics hubs and trying to be extra in step with stock ranges.
Furthermore, after former CEO Thomas Ingelath departed in August, Polestar obtained a brand new boss in Michael Lohscheller. He is an trade veteran with stints at DaimlerChrysler, Mitsubishi, Volkswagen and Opel—so he brings a ton of enterprise experience to the desk.
So with new fashions out now, a revised enterprise technique and a change in management, Polestar is not simply sitting idle. However whether or not all of it will assist the model survive and switch issues round is one thing solely time will inform.
60%: Stellantis Boss Will Step Down In 2026
Stellantis
Stellantis, which has greater than a dozen manufacturers below its umbrella together with iconic nameplates like Jeep, Ram and Dodge has not too long ago seen its earnings drop. Its EV gross sales are a drop within the bucket in comparison with rivals, however now the automaker is making sweeping management modifications throughout the globe.
It confirmed on Thursday that CEO Carlon Tavares will step down in 2026 on the finish of his contract. His successor could be named by the top of 2025.
Stellantis additionally appointed Antonio Filosa because the North America Chief Working Officer. He will even proceed his position as Jeep’s CEO. That is not it. Santo Ficili is the brand new CEO of Alfa Romeo and Maserati and Gregoire Olivier is the previous COO of its China division.
The brand new bosses will hope that the automaker’s future is not solely grim. Plus we’re seeing some motion from particular person manufacturers. Jeep’s upcoming Wagoneer S goals to rival the Tesla Mannequin Y, whereas a $25,000 electrical Renegade is ready to debut by 2027.
The Ram 1500 REV, with over 350 miles of vary and 800-volt structure, will nearly actually intensify competitors within the electrical truck area. And who’s not excited in regards to the Dodge Charger Daytona EV with its pretend, vibrating exhaust sounds?
90%: Trump Voices Issues About Self-Driving Vehicles
Hours earlier than Tesla revealed the Robotaxi on the Warner Bros. Hollywood studio in Los Angeles, Republican presidential nominee and Former President Donald Trump voiced considerations about self-driving vehicles at an occasion in Michigan.
“Do you want autonomous? Does anyone like an autonomous car,” Trump requested the gang on the Detroit Financial Membership occasion as Quartz reported. “Some individuals do, I don’t know, [it’s] somewhat regarding to me,” he added.
Trump has been an outspoken critic of electrical vehicles. He solely softened his stance on EVs after Tesla CEO Elon Musk pledged $45 million per 30 days to a pro-Trump Tremendous PAC. His bromance with Musk peaked when the Tesla boss spoke at one in every of his rallies not too long ago in Pennsylvania.
However I’ve to confess. Despite the fact that I despise his takes on electrical vehicles, I share his considerations relating to self-driving vehicles, and even Tesla confirmed little proof final night time that it was near the promised land there. AI and autonomous driving consultants instructed InsideEVs not too long ago that Tesla’s technical strategy with the Robotaxi, which shall be guided by cameras and AI, is flawed.
There is a lengthy record of questions Tesla didn’t tackle at yesterday’s blingy reveal occasion. Like how would the Robotaxi carry out in opposed climate with out radar or LIDAR and what kind of enterprise and operational infrastructure does it plan to determine?
100%: What’s Your Take On The Robotaxi Reveal?
InsideEVs
Tesla inventory is down 8% the morning after the Robotaxi reveal.
The automobile itself appears to be like rad and the Robovan is one thing out of a sci-fi flick. Nevertheless, it was a disgrace that Tesla didn’t share any technical and operational particulars in regards to the Robotaxi. That is regarding as a result of the We, Robotic occasion was vastly hyped-up.
How does it plan to be a trillion-dollar firm if it does not have a roadmap relating to how these items could be secure in opposed climate or how the assist infrastructure would seem like? Depart your ideas within the feedback.
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