Polestar Automotive Holding UK PLC Sponsored ADR Class C (PSNYW) has released an update.
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Polestar Automotive reports a net loss of $539,485 for the first half of 2024, a significant increase from the previous year’s $340,830, amid partnerships with Volvo Cars and Geely aiding its expansion and operational efficiencies. The company highlights its strategic advantages, including an asset-light balance sheet and technological advancements through collaboration with its partners. Despite a decrease in cash and total assets, Polestar is continuing to scale production and commercial activities, leveraging its partners’ established facilities.
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