Polestar reports results for first quarter of 2023 and intensifies cost management

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Go back to Polestar reports results for first quarter of 2023 and intensifies cost management

Polestar (PSNY) slashes production guidance and announces job cuts

May 11, 2023 10:00 AM EDT

Swedish electric automaker, Polestar Automotive (NASDAQ: PSNY) on Thursday lowered its 2023 production guidance and announced that the company would cut headcount by 10%, citing a delayed production start for its Polestar 3 and a challenging environment for the industry.

The electric vehicle company now expects to produce between 60,000 and 70,000 cars this year, versus... More