Polestar Q1 Loss Blowout: Record EV Sales Still Leave $383 Million Hole
Polestar kicked off the year with record first-quarter deliveries, but that momentum wasn’t enough to offset mounting headwinds. The Swedish EV maker’s net loss ballooned to $383 million—more than double the $166 million loss from the same period last year—while revenue inched up just 0.2% to $633 million. Price cuts and tariffs continue to batter margins. Numbers are coming into sharper focus as Polestar works to show it can expand without burning cash so quickly. The company’s cash reserves slid to $676 million by the end of March, down from $1.16 billion at December’s close—a steep decline for a business still paying for model launches and wider distribution.
