Polestar boss: car brands that postpone their EVs will definitely be punished

One of the brands that is pulling back on their EV plans is Mercedes. Due to disappointing market conditions, Mercedes is selling fewer EVs than expected. It has also postponed its original sales target. Ford is also putting the brakes on its EV investment. A foolsays Polestar through its CEO.

“Brands that aren’t 100 percent committed to electrification are falling into a trap.”

“Brands that aren’t 100 percent committed to electrification are falling into a trap,” warns Ingenlath. “Given the difficulty involved in introducing an EV to the market, they will quickly fall behind brands that fully embrace the technology.”

The Polestar boss adds: “Electronics, batteries and software are always improving. It’s very dangerous if you don’t believe in this innovation. Brands that think there’s still a lot of time and don’t jump in right away. They’re going to fall into the trap when consumers are ready.”

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‘Great opportunity for Polestar’

Meanwhile, the CEO sees ‘a huge opportunity for Polestar’. Especially in the high performance model segment. Ingenlath wants to end the ongoing parallels between Tesla and his brand: “We focus on two different markets. Polestar is not for the masses. We don’t compete with brands that do this. Our focus is unique and high quality. EVs.”

Polestar: Performance 5 EV for 2026

The German CEO’s statements are surprising, because Polestar is also suffering from disappointing EV sales worldwide. Not so long ago, the brand decided to cut 450 jobs. But for this year and beyond, all signs are green. Polestar has launched two new models (the Polestar 3 and Polestar 4), which should increase sales. And by 2026, Polestar wants to have five performance EVs.