Automotive industry: Polestar lowers forecast – shares fall by almost 30 percent
In the US, Polestar is under massive pressure. This is because the Trump administration prohibits the subsidiary of Chinese car manufacturer Geely from selling vehicles in the US. The stock plummets.
Polestar, the Swedish car manufacturer, has drastically lowered its sales forecast for this year. The company now expects only a low to mid single-digit volume growth in 2026, instead of the previously targeted double-digit growth. This decision was made after the US Department of Commerce ruled that Polestar, which is majority-owned by China's Geely, would not be able to sell new cars in the US from the 2027 model year due to concerns over technology linked to China and Russia.
As a result, Polestar's stock price plummeted, reaching a historic low of around $8.20, a decline of over 30% from the previous day's close.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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