The Gothenburg-based electric car maker Polestar shows a net loss of 190 million dollars (approximately 1.9 billion kronor) for the first quarter of the year. This can be compared to the loss of 276 million dollars during the corresponding quarter a year earlier.
"The geopolitical environment and market conditions are challenging, but we are on the right track and doing the right things," says CEO Michael Lohscheller.
The turnover increased by 84 percent compared to a year earlier to 608 million dollars during the first quarter.
Polestar is part of the Chinese automotive billionaire Li Shufu's corporate empire. The company has lost a significant part of its market value after being spun off from Volvo Cars in 2022.
Volvo Cars is still a minority owner of Polestar.
Polestar recently withdrew its forecast for 2025 due to the uncertain situation that has arisen in the automotive industry following Donald Trump's inauguration as the President of the USA on January 20.
