Polestar Automotive 1Q Loss Narrows as Rev Rises 84%

Dow Jones

May 13

By Roshan Fernandez

Polestar Automotive reported an 84% jump in first-quarter revenue from a year ago as the electric car company narrowed its loss.

The Sweden-based company reported a first-quarter loss of $190 million, compared with a loss of $276 million a year earlier.

Revenue rose to $608 million from $330 million a year earlier.

Retail sales of its vehicles spiked to 12,304 cars in the first quarter from 6,975 during the year-ago period, supported by a growing uptake of newer models. The increase in revenue was due to higher volumes and a favorable shift in product mix, the company said.

"We are selling more cars, at improved margins," said Chief Executive Michael Lohscheller, noting that the company flipped its gross margin to 6.8% growth from negative 7.7%.

Lohscheller said the geopolitical and market conditions were challenging but that the company is on the right track.

Shares were flat during Monday's midday trading.

Write to Roshan Fernandez at roshan.fernandez@wsj.com

(END) Dow Jones Newswires

May 12, 2025 12:23 ET (16:23 GMT)

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