(Reuters) – Polestar said on Thursday it sold fewer-than-expected cars and the Swedish EV maker’s CEO added that it will take longer for the company to be profitable.
The company has struggled to scale up its business amid weakening demand for electric vehicles and intensifying competition from legacy manufacturers.
Over the past year, Polestar has tried to overhaul its business, including a major management reshuffle with the appointment of Michael Lohscheller as CEO, a new head of design, a new chair of the board, and a new finance chief and chief operating officer.
(Reporting by Akash Sriram in Bengaluru and Marie Mannes in Stockholm; Editing by Shounak Dasgupta)
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