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Polestar Automotive Holding UK PLC - PSNY STOCK NEWS

Welcome to our dedicated news page for Polestar Automotive Holding UK PLC (Ticker: PSNY), a resource for investors and traders seeking the latest updates and insights on Polestar Automotive Holding UK PLC.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Polestar Automotive Holding UK PLC's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Polestar Automotive Holding UK PLC's position in the market.

Rhea-AI Summary
Polestar (PSNY) delivered 7,200 cars in Q1, including 1,200 Polestar 4 in China. Positive media reviews for Polestar 3 and Polestar 4. Strategic developments include securing $950 million funding, ownership structure changes, and production expansion plans.
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End-of-Day
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Rhea-AI Summary
Polestar (Nasdaq: PSNY) debuts at the New York International Auto Show with luxury SUVs Polestar 3 and Polestar 4, showcasing the brand's commitment to performance and luxury in the electric age.
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Rhea-AI Sentiment
End-of-Day
1.24%
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Rhea-AI Summary
Polestar Automotive Holding UK PLC secures USD 950 million in external funding from 12 leading international banks to drive global growth. Geely Sweden Holdings commits to future financing. A new lineup of SUVs expected to boost volume and profit margins. Efficiency program in place to achieve 2025 targets.
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Rhea-AI Sentiment
End-of-Day
22.82%
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Rhea-AI Summary
Polestar Automotive Holding UK PLC (Nasdaq: PSNY) welcomes Geely Sweden Holding as a potential new shareholder, with Volvo Cars evaluating a potential adjustment to its shareholding. The company has made significant progress in developing an all-electric model line-up, global sales and service network, and a diversified manufacturing footprint. Polestar announced a strengthened business plan in November 2023 to drive higher margins and cash flow, reducing its expected external funding need to approximately $1.3 billion until targeted cash flow break-even in 2025.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-15.67%
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Polestar Automotive Holding UK PLC (Nasdaq: PSNY) announces new appointments to its Board of Directors and Management Team, including Winfried Vahland as a new director, Per Ansgar as Chief Financial Officer, and Kristian Elvefors as Global Head of Sales. The company aims to leverage their significant industry experience to drive profitable growth and achieve cash flow breakeven by 2025.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-8.7%
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Polestar Automotive Holding UK PLC (Nasdaq: PSNY) reports global deliveries for the fourth quarter of 2023, with approximately 12,800 cars delivered, including 880 Polestar 4 in China, and a total of 54,600 cars delivered for the year, marking a 6% growth compared to 2022. The company anticipates a break-even gross profit margin for the full year and plans to release its preliminary unaudited financial and operational results for 2023 on February 29, 2024.
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Rhea-AI Sentiment
End-of-Day
-8.7%
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Rhea-AI Summary
Polestar (Nasdaq: PSNY) confirms the successful start of production of Polestar 4, with first deliveries to customers in China expected before the end of 2023 and in other markets in early 2024. The car is manufactured at the Hangzhou Bay factory operated by Geely Holding, powered by renewable electricity. It has the lowest carbon footprint of any Polestar car at launch, and incorporates various eco-friendly measures in its production. Polestar 4 was first launched at the Shanghai Auto Show in April 2023 and will be manufactured in Busan, South Korea, from the second half of 2025.
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Rhea-AI Sentiment
End-of-Day
2.76%
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Polestar Automotive Holding UK PLC (Nasdaq: PSNY) presents a strengthened business plan aiming for cash flow break-even in 2025 by prioritizing margin progression over volume. The plan includes a gross margin target in the high teens with a total annual volume of approximately 155,000-165,000 cars, cost reduction measures, and additional liquidity provided by Geely Holding and Volvo Cars.
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Rhea-AI Sentiment
End-of-Day
-8.72%
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Polestar Automotive Holding UK PLC (Nasdaq: PSNY) reports a 41% year-on-year increase in total revenue to USD 613 million and a 51% increase in car deliveries to 13,976. The company also has cash and cash equivalents of USD 951 million as of September 30, 2023. The PR highlights financial results, operational highlights, and an outlook for 2023.
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Rhea-AI Sentiment
End-of-Day
-8.72%
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Rhea-AI Summary
Polestar invites shareholders to attend an exclusive event on November 9, 2023 in Los Angeles.
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Rhea-AI Sentiment
End-of-Day
1.13%
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Polestar Automotive Holding UK PLC

Nasdaq:PSNY

PSNY Rankings

PSNY Stock Data

3.08B
246.60M
47.63%
4.88%
1.2%
Automobile Manufacturing
Manufacturing
Link
Sweden
Gothenburg