Whereas some automakers are chasing science fiction, others are grappling with the tough realities of now: the automotive trade is a troublesome rattling enterprise to be in. Swedish automaker Polestar is in disaster. Its EV gross sales are tanking, the share value has hit rock-bottom and now it is aware of that it must mount a comeback.
Welcome again Crucial Supplies, your day by day round-up of reports and occasions shaping up the world of electrical vehicles, software-defined automobiles and autonomous tech.
Additionally on in the present day’s agenda: Stellantis CEO Carlos Tavares will step down in 2026 amid a broad administration shake-up on the multinational conglomerate. Plus, the auto trade is giving Donald Trump the heebie jeebies. He hates EVs, he thinks hydrogen-powered vehicles are all the time blowing up and now he is very, very involved about autonomous automobiles. (I hate to confess it, however I do share a few of his considerations concerning AVs.)
30%: Polestar Desires To Flip Issues Round, Badly
InsideEVs
It actually does. However first, let’s do a actuality verify.
The automaker launched international third-quarter gross sales on Thursday and issues do not look good. Polestar delivered 11,900 vehicles in Q3, a 14% year-over-year drop because it delivered 13,900 vehicles throughout the identical interval final 12 months.
Within the first 9 months of the 12 months, it delivered 32,300 items throughout the globe. Volvo, by comparability, fared much better with its battery-electric and plug-in hybrid car gross sales. It delivered 30,174 items of BEVs and PHEVs in September alone, internationally.
Here is what new Polestar CEO Michael Lohscheller mentioned in a press launch:
Polestar has an ideal basis to construct upon, with entry to one of the best EV expertise, a world manufacturing functionality and robust assist from Geely. Along with the administration workforce, we’re conducting a assessment of our technique and operations, to set out a transparent path for Polestar’s growth.
A key to our future success would be the growth of our business capabilities: going from displaying to actively promoting vehicles. Adopting a extra energetic gross sales mannequin is already supporting our ambitions, as the primary markets to implement it are displaying stable order consumption.
There have been some basic points with Polestar’s EV technique. Ever because it turned a standalone efficiency EV model separate from Volvo, it has struggled to distinguish itself.
I’ve tried explaining to my pals exterior of the automotive trade what Polestar actually is, however I wasn’t shocked once they did not get it. To them, Polestars appeared like barely cooler-looking Volvos. And I do not blame them.
In an SUV-dominated world, the automaker fielded the Polestar 2 sedan for a very long time. It was once a one-car model. That modified lately with the Polestar 3 SUV and the rear-window-less Polestar 4 coupe. InsideEVs had an opportunity to assessment the Polestar 3 and we discovered that it is a stable possibility, however maybe not fairly the game-changer Polestar wants.
However the automaker alone is not responsible for the powerful state of affairs it finds itself in. The Polestar 2 is made at mum or dad firm Geely’s manufacturing facility in China’s Zhejiang province. Meaning the U.S. tariffs have hit Polestar exhausting.
Fortunately, the Polestar 3 is manufactured at Volvo’s South Carolina plant and the North American Polestar 4 coupe is produced at Renault’s plant in Busan, South Korea to sidestep tariffs on Chinese language EVs.
Plus, Polestar is adopting a brand new distribution technique that may fast-track car supply to dealerships in order that clients do not have to attend too lengthy. With Volvo’s assist, it is creating new logistics hubs and trying to be extra in keeping with stock ranges.
Furthermore, after former CEO Thomas Ingelath departed in August, Polestar received a brand new boss in Michael Lohscheller. He is an trade veteran with stints at DaimlerChrysler, Mitsubishi, Volkswagen and Opel—so he brings a ton of enterprise experience to the desk.
So with new fashions out now, a revised enterprise technique and a change in management, Polestar is not simply sitting idle. However whether or not all of this can assist the model survive and switch issues round is one thing solely time will inform.
60%: Stellantis Boss Will Step Down In 2026
Stellantis
Stellantis, which has greater than a dozen manufacturers beneath its umbrella together with iconic nameplates like Jeep, Ram and Dodge has lately seen its earnings drop. Its EV gross sales are a drop within the bucket in comparison with rivals, however now the automaker is making sweeping management adjustments throughout the globe.
It confirmed on Thursday that CEO Carlon Tavares will step down in 2026 on the finish of his contract. His successor could be named by the top of 2025.
Stellantis additionally appointed Antonio Filosa because the North America Chief Working Officer. He will even proceed his function as Jeep’s CEO. That is not it. Santo Ficili is the brand new CEO of Alfa Romeo and Maserati and Gregoire Olivier is the previous COO of its China division.
The brand new bosses will hope that the automaker’s future is not solely grim. Plus we’re seeing some motion from particular person manufacturers. Jeep’s upcoming Wagoneer S goals to rival the Tesla Mannequin Y, whereas a $25,000 electrical Renegade is ready to debut by 2027.
The Ram 1500 REV, with over 350 miles of vary and 800-volt structure, will virtually actually intensify competitors within the electrical truck house. And who’s not excited in regards to the Dodge Charger Daytona EV with its faux, vibrating exhaust sounds?
90%: Trump Voices Issues About Self-Driving Automobiles
Hours earlier than Tesla revealed the Robotaxi on the Warner Bros. Hollywood studio in Los Angeles, Republican presidential nominee and Former President Donald Trump voiced considerations about self-driving vehicles at an occasion in Michigan.
“Do you want autonomous? Does anyone like an autonomous car,” Trump requested the gang on the Detroit Financial Membership occasion as Quartz reported. “Some individuals do, I don’t know, [it’s] slightly regarding to me,” he added.
Trump has been an outspoken critic of electrical vehicles. He solely softened his stance on EVs after Tesla CEO Elon Musk pledged $45 million per 30 days to a pro-Trump Tremendous PAC. His bromance with Musk peaked when the Tesla boss spoke at considered one of his rallies lately in Pennsylvania.
However I’ve to confess. Although I despise his takes on electrical vehicles, I share his considerations concerning self-driving vehicles, and even Tesla confirmed little proof final night time that it was near the promised land there. AI and autonomous driving consultants informed InsideEVs lately that Tesla’s technical strategy with the Robotaxi, which will probably be guided by cameras and AI, is flawed.
There is a lengthy listing of questions Tesla didn’t deal with at yesterday’s blingy reveal occasion. Like how would the Robotaxi carry out in hostile climate with out radar or LIDAR and what kind of enterprise and operational infrastructure does it plan to ascertain?
100%: What’s Your Take On The Robotaxi Reveal?
InsideEVs
Tesla inventory is down 8% the morning after the Robotaxi reveal.
The automotive itself seems to be rad and the Robovan is one thing out of a sci-fi flick. Nevertheless, it was a disgrace that Tesla didn’t share any technical and operational particulars in regards to the Robotaxi. That is regarding as a result of the We, Robotic occasion was massively hyped-up.
How does it plan to be a trillion-dollar firm if it does not have a roadmap concerning how these items could be secure in hostile climate or how the assist infrastructure would appear to be? Go away your ideas within the feedback.
Contact the writer: suvrat.kothari@insideevs.com
