Polestar Sales Rise 1% in Third Quarter to Best-Ever Q3 Total

According to CEO Michael Lohscheller, the quarter was Polestar’s best third quarter ever, despite challenging market conditions.

For the first nine months of the year, sales volume increased by 0.6 percent to 44,790 cars.

Nasdaq-listed Polestar - which has lost just over 70 percent of its market value this year - is part of Chinese automotive mogul Li Shufu’s corporate empire.

Volvo Cars - another part of Li Shufu’s empire - is a major minority shareholder in the electric car manufacturer, with almost 20 percent of its shares, following Polestar’s spin-off nearly ten years ago.