Polestar plans a 15% global workforce reduction of around 450 jobs due to challenging market conditions and decreased EV demand.

Electric car maker Polestar plans to reduce its workforce by approximately 15% globally, cutting around 450 jobs. The layoffs, which come amid "challenging market conditions," are aimed at addressing decreased demand for electric vehicles, heavy price cuts, lower subsidies, and supply chain issues. The company had previously outlined a revised business plan aiming for cash flow break-even in 2025 and reduced reliance on external funding from key owners Volvo Cars and Geely.

January 26, 2024
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