Swedish electric vehicle maker Polestar on Wednesday cut its longstanding 2025 deliveries target and said that despite cost cuts, it will still need to raise cash to break even that year.
For 2023, Polestar now expects to deliver"approximately 60,000" vehicles, at the low end of its previous guidance range, with a positive gross margin of about 2%. The company had previously guided to deliveries ofSuspect in custody in recent deadly stabbing of Detroit synagogue leader "By having taken the necessary steps to re-work our business plan, we are reducing costs and improving efficiencies to create a more resilient and profitable Polestar – and reducing our funding need at the same time," CEO Thomas Ingenlath said in a statement.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Crypto Traders Are Earning 165% Yields By Staking a Token Named After Elon Musk’s PetShaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.
Source: CoinDesk - 🏆 291. / 63 Read more »
MicroStrategy Acquires An Additional 155 Bitcoin for $5.3 MillionThe company now holds 158,400 BTC worth over $5.4 billion.
Source: BitcoinMagazine - 🏆 461. / 53 Read more »
US Army says it needs $3 billion for 155 mm artillery rounds and productionThe U.S. Army needs Congress to approve $3.1 billion to buy 155 millimeter artillery rounds and expand production to quickly replace stocks depleted by shipments to Ukraine and now Israel, an Army official said on Tuesday.
Source: Reuters - 🏆 2. / 97 Read more »
U.S. Army says it needs $3 billion for artillery rounds and productionThe U.S. Army says it needs Congress to approve $3.1 billion to buy 155 millimeter artillery rounds to replace stocks depleted by Ukraine and now Israel.
Source: NBCNews - 🏆 10. / 86 Read more »
Polestar Updated Its Guidance. It's Another Bleak Sign for EVs.Polestar Automotive provided an updated business plan to investors on Wednesday. Things aren't getting better for the electric vehicle start-up.
Source: MarketWatch - 🏆 3. / 97 Read more »