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Analysis:Volvo s Polestar troubles signal shakeout time for EV industry

STOCKHOLM : The shakeout in the global electric-vehicle industry is picking up speed.Chinese automaker Geely's move on Thursday to take over funding of struggling EV maker Polestar from Volvo Cars is the latest consolidation among EV brands since Tesla Inc's historic financial surge in the early 2020s.

Bill russoLi shufuAdam jonasElon muskMary barraHenry fordAndy leylandMorgan stanleyGeely holdingTesla incVolvo carsChair li shufu

Volvo s Polestar troubles signal shakeout time for EV industry

The shakeout in the global electric-vehicle industry is picking up speed. Chinese automaker Geely s move on Thursday to take over funding of struggling EV maker Polestar from Volvo Cars.

City ofUnited kingdomAndy leylandHenry fordNick zieminskiElon muskBill russoAdam jonasBrian thevenotMarie mannesMary barraLi shufuDavid ljunggrenJoseph whiteNick careyTesla inc

Analysis-Volvo s Polestar troubles signal shakeout time for EV industry

Analysis-Volvo s Polestar troubles signal shakeout time for EV industry
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City ofUnited kingdomBrian thevenotMarie mannesMary barraLi shufuDavid ljunggrenJoseph whiteNick careyHenry fordAndy leylandElon muskNick zieminskiAdam jonasBill russoTesla inc

Analysis-Volvo s Polestar troubles signal shakeout time for EV industry

Chinese automaker Geely's move on Thursday to take over funding of struggling EV maker Polestar from Volvo Cars is the latest consolidation among EV brands since Tesla Inc's historic financial surge in the early 2020s. Tesla rode cheap capital, technological breakthroughs and Elon Musk's outsized persona to a $1-trillion valuation - but only after years of heavy spending before turning a profit. Now legacy automakers, startups and investors that bet more than $1.2 trillion on EVs face increasingly tough decisions to cut losses.

City ofUnited kingdomMarie mannesNick zieminskiNick careyMary barraAdam jonasJoseph whiteHenry fordAndy leylandBill russoDavid ljunggrenBrian thevenotLi shufuElon muskMorgan stanley

Volvo s Polestar troubles signal shakeout time for EV industry

The struggles of Polestar and other smaller players underscore the massive expense of developing EVs, which favour deep-pocketed companies willing and able withstand sustained financial bleeding

Li shufuElon muskHenry fordAndy leylandBill russoMary barraAdam jonasTesla incMorgan stanleyGeely holdingLog increate freeVolvo carsChair li shufu

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