Polestar Automotive Holding (PSNY) Q1 2025 Earnings Call Transcript

Polestar Automotive Holding UK PLC (PSNY) reported its Q1 2025 earnings, highlighting a 40% year-over-year increase in global volumes to 7,200 vehicles, driven by strong demand for the Polestar 3 and Polestar 4 models. The company achieved a gross profit of $4 million, a significant improvement from a $19 million gross loss in the same quarter last year, attributed to higher volumes and lower production costs. Polestar also secured $950 million in funding from a consortium of banks, which will support the company's growth and working capital needs. CEO Thomas Ingenlath emphasized the company's focus on expanding its market presence and enhancing its product lineup, with plans to launch the Polestar 5 and Polestar 6 in the coming years. Despite challenges in the EV market, Polestar remains optimistic about its future, aiming to achieve cash flow break-even by 2025.

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