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11 people found this useful Polestar chief executive Thomas Ingenlath has questioned the “paper value” of rival electric vehicle (EV) manufacturers as the Geely-owned carmaker continues to be linked with a possible public offering. Speaking at this week’s Shanghai International Auto Show, Ingenlath suggested that the EV revolution was in danger of becoming a plaything for speculators which risks losing its focus on making the most significant contribution to climate change since the car was invented. And he urged Polestar’s rivals to get their priorities straight by putting climate change before pushing for a sky-high market valuation. Ingenlath’s statement came less than a week after Polestar announced that it had raised USD550m (£395.7m) from a group of long-term financial investors to further boost its growth potential. ....
【Summary】Electric vehicle brand Polestar, which is jointly owned by Swedish automaker Volvo and Chinese automaker Zhejiang Geely Holding (Geely), announced it raised $550 million in its first ever outside investment round. The new financing comes as investors pour money in electric vehicle stocks and related companies working on advanced mobility, including EV battery technology and self-driving vehicles. Eric Walz Apr 15, 2021 9:45 AM PT author: Eric Walz The fully-electric Polestar 2. Electric vehicle brand Polestar, which is jointly owned by Swedish automaker Volvo and Chinese automaker Zhejiang Geely Holding (Geely), announced it raised $550 million in its first ever outside investment round. The private placement of newly issued shares was from a group of long-term financial investors. The financial details of the transaction are not being disclosed at this stage. ....
Polestar 0 project – true carbon neutral car by 2030 9 April 2021 11:12 am / 1 comment Normally, when companies say they’re carbon neutral, what they really mean is that they’re planting trees to offset their carbon emissions. Polestar, however, is looking to do something different – the company announced it is planning to build a true zero-emissions vehicle (not just one that is electric) by 2030, through its new Polestar 0 project. The electric offshoot of Volvo says that offsetting isn’t a sustainable long-term practice, citing environmental experts. The long-term carbon storage capacity of forests and soils remains uncertain, as forests may be logged, destroyed in a fire or altered by climate change. ....
Polestar announces goal of climate-neutral car by 2030 Polestar, the premium electric performance car brand founded by Volvo Cars and Geely Holding, has set a goal of creating the first climate-neutral car by 2030. The Polestar 0 project will drive a ‘design towards zero’ focus by eliminating emissions rather than offsetting by planting trees. The company made the announcement in its first annual review. Environmental experts have warned that offsetting is not sustainable in the long run. Questions around the long-term carbon-storage capacity of forests and soils remain, as a forest might be logged, devastated by fire or altered by climate change. Offsetting is a cop-out. By pushing ourselves to create a completely climate-neutral car, we are forced to reach beyond what is possible today. We will have to question everything, innovate and look to exponential technologies as we design towards zero. ....
Polestar Pledges to Build BEV Without Carbon Offset Polestar, owned by Volvo Cars, backs warnings by environmental experts that offsetting carbon emissions during vehicle production is not sustainable in the long term. Premium battery-electric vehicle brand Polestar promises to build its first Project 0 climate-neutral car, created without any carbon offset, by the end of the decade. Its CEO, Thomas Ingenlath, used the announcement to attack the use of carbon offset, such as investing in planting forests to offset the carbon emissions during vehicle production, as a “cop-out.” Polestar’s pledge is part of its first annual review, published today. The automaker, owned by Volvo Cars, backs warnings by environmental experts that offsetting is not sustainable in the long term. ....