- Polestar’s world electrical automobile gross sales declined by 15% in 2024 in comparison with the 12 months earlier than.
- Now, with a sales- and business-focused CEO in cost, the automaker hopes to show issues round this 12 months.
- CEO Michael Lohscheller has reportedly requested his deputies to lure in Tesla patrons who really feel uncomfortable being related to Elon Musk’s politics.
Tesla CEO Elon Musk’s rising foray into world politics is likely to be rubbing lots of his would-be clients the improper approach. Now, Polestar’s new CEO, Michael Lohscheller, sees that as a chance for his model.
Polestar‘s gross sales have not been nice because it waited for brand new fashions just like the Polestar 3 and Polestar 4 to affix the household. The Geely Group-owned automaker bought simply 44,851 EVs worldwide in 2024, down 15% from the earlier 12 months. Musk, however, has been much less centered on Tesla’s passenger automotive enterprise, given his new advisory function in President Trump’s authorities and pivot in direction of AI and robotics.
Tesla house owners have felt uncared for and antagonized by the CEO’s politics (even shopping for anti-Musk bumper stickers for his or her vehicles), and the model’s gross sales declined for the primary time final 12 months in over a decade final 12 months. Its U.S. EV market share has been declining for consecutive quarters, accounting for about 44% of the U.S. EV market within the final quarter.
“Lots of people have a really, very detrimental sentiment,” Lohscheller advised Bloomberg, referring to Musk trying to exert his affect on European politics.
Photograph by: InsideEVs
Musk has turn into more and more taken with German and British politics and has voiced his help for far-right events. At President Trump’s inauguration on Monday, he pounded his fist on his chest after which prolonged it within the air, a gesture that far-right supporters instantly embraced.
German-born Lohscheller praised Musk’s enterprise acumen earlier than criticizing his interference in Europe’s politics. “I feel it’s completely unacceptable. You simply don’t try this. That is pure conceitedness,” he stated within the interview. Now, he has requested his gross sales executives to lure potential Tesla patrons who aren’t eager on being related to the model.
This method isn’t new. Tesla’s rivals have been providing conquest offers on their EVs for months. Most CEOs, nonetheless, haven’t been as vocal in criticizing Musk. Polestar, at this stage, most likely wants each trick up its sleeve to show issues round.
All its EVs are made in China, besides the Polestar 3 for the U.S. market, which can also be made at Volvo’s Ridgeville, South Carolina plant and Geely Group’s plant in Chengdu, China.
Earlier than passing the torch to President Trump, the Biden administration finalized the ban on Chinese language software program and {hardware}, successfully prohibiting made-in-China automobiles from coming into the U.S. Chinese language EVs already confronted a 100% import tariff earlier than that. This jeopardizes Polestar’s enterprise, however now, with a brand new sales- and business-focused CEO in Lohscheller, the automaker hopes to show issues round. It’s focusing on a 30-35% gross sales quantity progress this 12 months.
It has gone from being a one-car model within the U.S. to providing three fashions. That features the Polestar 2 (coupe), Polestar 3 (SUV) and the upcoming Polestar 4 (crossover coupe). The Polestar 5 luxurious sedan is due this 12 months and the automaker additionally introduced Polestar 7 final week, a compact SUV that can be made in Europe later this decade. Polestar EVs additionally obtained Tesla Supercharger help final 12 months, opening up entry to just about 18,000 extra plugs throughout the U.S., which ought to make road-tripping quite a bit simpler.
“We anticipate 2025 to be the strongest 12 months in Polestar’s historical past,” Lohscheller stated.
