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Polestar Automotive Holding Uk Plc (NASDAQ:PSNY), the $2.2 billion market cap EV maker with annual revenues of $2 billion, has begun selling the 2026 Polestar 4 in the United States at a starting price of $56,400, according to Cantor Fitzgerald, which reiterated its Neutral rating on the stock. According to InvestingPro analysis, the company currently appears undervalued based on its Fair Value assessment.
The electric vehicle manufacturer announced on June 3 that production of the new model will start in Busan, South Korea, with first customer deliveries expected to begin in the Fall of 2025. While analysts expect 55% revenue growth in the current year, InvestingPro data shows the company faces significant challenges with its debt burden and cash burn rate.
On the same day, Polestar disclosed that board members Karen Francis and David Wei will not seek re-election, while David Richter and Daniel Li expect to resign, effective at the close of the Annual General Meeting.
Last Thursday, the company entered the French market, marking France as its 28th global market.
Cantor Fitzgerald analyst Andres Sheppard maintained a Neutral stance on Polestar stock following these developments.
In other recent news, Polestar reported its first-quarter revenue for 2025 at $608 million, which was below the analyst consensus estimate of $676.62 million. Despite this shortfall, the company saw an 84.2% year-over-year increase in revenue. Polestar’s gross margin improved significantly to 6.8%, up from -7.7% in the same quarter last year. The net loss narrowed to $190 million, a decrease of 31.2% from the previous year, and adjusted EBITDA loss improved by 45.7% to $115 million.
Additionally, Polestar announced changes to its Board of Directors, with four members stepping down and new nominations in place. The company also paused its financial guidance for fiscal year 2025 due to macroeconomic conditions and tariff uncertainties, as noted by Cantor Fitzgerald, which maintained a Neutral rating on the stock. Polestar continues to focus on global expansion, with new production facilities planned in South Korea and an upcoming launch in France. Retail sales increased by 76.5% year-over-year, driven by the popularity of newer models. Despite challenges, Polestar secured over $900 million in financing facilities during the quarter.
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