“Trap”: for the Polestar boss, turning to an electric car is a big mistake

“Trap”: for the Polestar boss, turning to an electric car is a big mistake

2023 was the year of the electric car with record sales for this energy, but not all manufacturers benefited greatly from it. If Tesla can boast that it has put its Model Y in first place in global sales for all energy sources, other brands are struggling to sell their models, despite huge investments in electricity.

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Investment plans in electric vehicles are not straightforward

Several manufacturers even change course with some of their decisions. For example, Ford has halted its electrification projects in Europe, General Motors has restarted the development of hybrid models and Audi that of combustion engines, Mercedes has revised its sales targets downwards and Aston Martin has postponed the release of its first hybrid model. Jeep also finally chose to sell its Avenger with internal combustion engines alongside its electric version, which is the only one originally planned for our market. In short, it’s enough to fuel debates between opponents of electric cars.

But for Polestar, which became an all-electric car brand after the discontinuation of its first model, the Polestar 1 plug-in hybrid, not embracing electrification would be a mistake. Thomas Ingenlath, CEO of the Swedish manufacturer, criticized the strategy of brands that are moving too cautiously towards electric vehicles.

“There is a great threat and danger if we do not embrace and believe in the inventions of the future – power plants, battery inventions, the invention of modern electronic devices and software”he announced Telegraphbefore adding that “If you don’t participate in this evolution and think you can wait with your customers already, it’s a wonderful trap.”

So it is the short-term vision of these producers that Thomas Ingenlath attacks, who does not hide the fact that “This is an incredible opportunity for Polestar because, in this high-performance car sector, there really isn’t much competition coming.”

Note, however, that Polestar, a manufacturer whose shares Volvo recently reduced, is currently suffering heavy losses. The brand’s losses are borne by the Chinese giant Geely, the owner of Polestar, but also Volvo and Lotus.