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Polestar EV

699 Posts
Pagina: «« 1 ... 24 25 26 27 28 ... 35 »» | Laatste | Omlaag ↓
  1. forum rang 9 nine_inch_nerd 6 maart 2023 15:17
    EV Startups Brace for Another Tough Year as Cash Dwindles
    After worrying about producing enough autos, young electric-vehicle makers are now concerned about selling them

    www.wsj.com/articles/ev-startups-brac...
    Sean McLainMarch 6, 2023 6:00 am ET

    Rivian has introduced cost-cutting measures and efforts to increase output at its sole factory in Normal, Ill.

    For many of the electric-vehicle startups, last year was rife with supply-chain constraints and manufacturing troubles that hindered their efforts to get off to a fast start.

    Now, young companies such as Rivian Automotive Inc. RIVN 7.63% and Lucid Group Inc. LCID 4.81% are facing a more pressing challenge this year: They need to right their factory operations before running through their cash reserves.

    The earnings results over the past few weeks for these EV makers illustrated the urgency of their predicament. While these companies are now producing vehicles, losses continue to mount as they have struggled to spool up assembly lines and boost sales as planned, whittling down their financial cushions and increasing the likelihood of needing to raise more money.

    Rivian, once flush with capital after raising nearly $12 billion in an initial public offering in 2021, burned through $6.6 billion in cash last year. Analysts predict it could go through another roughly $6 billion based on projected expenses for this year.

    Despite cost-cutting measures and efforts to increase output at its sole factory in Normal, Ill., executives are still anticipating a difficult year. Rivian forecast in February it would make 50,000 electric trucks, sport-utility vehicles and vans in 2023, well below Wall Street’s estimates and a figure that sent its stock down 18% the following day.

    Lucid reported a drop in reservations in the last half of the year.

    Lucid, a maker of high-end electric sedans, also fell short on some fronts, reporting a drop in reservations in the last half of the year, to 28,000 at the end of December from 37,000 in June and setting an underwhelming production target for this year.

    “Last year, our focus was on solving production bottlenecks,” Lucid Chief Executive Peter Rawlinson said. “Now in terms of sales, that’s my focus right now.”

    Fisker Inc.

    Fisker Inc., FSR 3.10% a California-based EV startup that went public in 2020 through a reverse-merger deal, had a more upbeat earnings report, telling investors it plans to deliver its first model—the electric Ocean SUV—in the coming months. The company’s shares surged 30% following the February earnings announcement.

    What’s News
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    Still, Fisker faces a tight timeline to hit its full-year production target and has little leeway for error. The company reported it had $736 million in cash at the end of 2022 and said it expected expenses to total up to $610 million this year.

    The landscape for these startups has dramatically shifted from when they initially went public in 2020 and 2021.

    Investor zeal for companies promising to reshape the car business was running high then, and the financial markets were pouring cash into the EV space, hoping to find the next Tesla Inc. These aspiring auto manufacturers raked in billions of dollars before they made or sold a single car.

    In all, investors have plowed over $123 billion in these EV startups through public offerings, reverse-merger deals and other funding mechanisms in the past three years, according to Dealogic.

    Within the past year, though, Wall Street’s patience for the startups’ manufacturing woes has started to evaporate.

    Rivian is under pressure to prove it can build its electric trucks at scale without having ramped up production before, as competition heats up from legacy auto makers. WSJ toured Rivian’s and Ford’s EV factories to see how they are pushing to meet demand. Illustration: Adam Falk
    Some EV startups such as Lordstown Motors Corp. RIDE 5.66% , Faraday Future Intelligent Electric Inc. FFIE 12.16% and Nikola Corp. NKLA 1.90% already hit cash problems forcing them to delay vehicles and scale back their ambitions.

    Others, such as Polestar Automotive Holding UK PSNY -2.24% PLC, have posted better sales and a slimmer net loss than expected. The Swedish startup expects sales volume to increase by 60% this year to 80,000 units and recently raised $1.6 billion, which executives say is sufficient to fund operations this year.

    Meanwhile, the strong car demand that helped push up vehicle prices across the board over the past few years is starting to weaken. Some EV makers have already adjusted prices down or are offering discounts.

    Analysts say the need for raising capital could grow as these startups struggle with the costs of scaling their business and as capital markets are tightening.

    Rivian’s stock is down about 80% from its IPO price, after it cut its production target in half last year and still narrowly missed the 25,000-goal by about 700 vehicles, due to missing parts.

    This year, Rivian is planning more downtime at its factory to reorganize the line to produce more cars. It has already had two rounds of layoffs and delayed key projects, such as its next generation of vehicles, to preserve cash. Executives say supply-chain constraints, particularly on semiconductors, will continue to dent its production numbers this year, but it has enough cash to last until 2025.

    Rivian is planning more downtime at its factory to reorganize the line.
    Photo: Brian Cassella/Zuma Press
    Lucid recently raised $1.5 billion in funding from a share sale and had a total of $1.74 billion in cash and cash equivalents at the end of December—enough to last until the first quarter of 2024, executives say. The Newark, Calif.-based startup offered a cautious view on the year, though, and raised concerns about consumer demand.

    Fisker said it had sufficient cash to launch its first vehicle, the Ocean, but said it was also examining raising more funds from lenders.

    The auto industry has long been a capital-intensive business difficult for newcomers to penetrate. Tesla posted losses for years, while it struggled to build manufacturing scale, and relied on regular cash injections to stay afloat.

    “The hard part is building the cars and the entire supply chain that goes with the cars,” Tesla Chief Executive Elon Musk said Wednesday. “This is a logistics challenge of extraordinary difficulty.”

    In many ways, this new crop of EV startups faces a more difficult path. Tesla had few rivals for its cars when it launched the Model S over a decade ago, said Doug Betts, president of the automotive division at data-analytics company J.D. Power.

    Now, these startups are also going up against more traditional car companies that have established supply chains and massive manufacturing operations. Competition is also getting fierce on the luxury end of the EV market, which is where these young companies are trying to target customers, analysts say.

    “They have to beat BMW and Mercedes, who all have EVs now,” Mr. Betts said.
  2. forum rang 9 nine_inch_nerd 7 maart 2023 13:30
    Ter info:

    finance.yahoo.com/video/theres-nobody...

    'There's nobody that close to Tesla': CoPilot CEO
    Mon, March 6, 2023 at 11:18 PM GMT+1
    Tesla (TSLA) is slashing the prices for its two most expensive vehicles in the U.S. The EV giant announcing that prices for its Model S and Model X vehicles will be reduced between 4% and 9% as it looks to drive demand.

    Nobody is that close to Tesla. It's amazing how far ahead they are,' CoPilot Founder and CEO tells Yahoo Finance. Ryan says Tesla is able to accomplish this - and its competitors cannot - because 'Tesla basically went through the growing pains of learning how to build EVs sufficiently earlier and got through that gives them the margin advantage...they can afford to cut their prices and still be profitable.'

    According to Ryan, several of Tesla's EV competitors are facing significant challenges - Ford (F) when it comes to profitability on its EV sales, and Rivian (RIVN) and Polestar (PSNY) on their decision to not cut prices on its vehicles.

    Ryan also advises used car shoppers on timing their next purchase, outlining some of the biggest challenges right now and explaining why buying waiting one to three months could yield greater benefits.
  3. forum rang 9 nine_inch_nerd 7 maart 2023 13:58
    A truly carbon neutral car? ‘Many consider it impossible, but we dare to differ,’ says Polestar boss
    Electric car company CEO Thomas Ingenlath tells Chris Blackhurst of his plans for the first production vehicle to be built with zero greenhouse gas emissions by 2030

    Chris Blackhurst

    www.independent.co.uk/climate-change/...

    Thomas Ingenlath sits down and looks around. Behind us is a wall, full of dials, switches and gauges.

    He can’t help but smile. We’re in Control Room B in Battersea Power Station. It’s now a bar, but this place once controlled all the electricity for a swathe of London. Here he is, Ingenlath, the designer-turned-CEO for Polestar, the performance electric car brand, and we’re in a stark reminder of how energy generation used to be.

    There’s a visible disconnect: the beautifully restored power station with its vast, cathedral-like turbine halls, art deco features and now, designer shops and bars, versus the dinosaur clunkiness of what it used to do. It’s the same with Ingenlath’s car. Downstairs in the ‘Polestar Space’ - they don’t call them showrooms - there’s the fastback model 2, alongside which many other vehicles on the road appear positively ancient and slow.

    Ingenlath certainly looks the part. He’s wearing a black cashmere roll-top – beloved of that other design guru turned chief, Steve Jobs. He’s tanned, well-groomed, lean - presumably from all the cycling, sailing and ski-ing he loves to do.

    It’s true, he doesn’t look like a traditional motor or corporate boss. No dull suit, shirt and tie set, for him.

    Polestar CEO Thomas Ingenlath

    Ingenlath was born in 1964, in Germany. Married with two sons and a daughter, he lives a cycle ride away from Polestar’s global headquarters in Gothenburg, Sweden.

    He’s been the firm’s head since 2017, during which time he has managed the marque’s launch and subsequent rise to become a plaudits-winning brand, earning admiration for its head-turning lines, outside and in, as well as premium performance. The infotainment screen is something to behold, and in one of those details that smack of smart thinking and clever design it’s partnered with Google.

    Worldwide, Polestar sales were up 80 per cent to 51,500 cars in 2022, easily passing its targets. This year, the firm, which listed on NASDAQ last year, is heading for sales of around 80,000. In the UK, Polestar grew at twice the industry rate - sales up 80 per cent versus a sector rise of 40 per cent. They’ve launched the Polestar 3, an SUV, and plan to roll out three more models by 2026.

    It’s a stellar path for Polestar, that until it was spun-off to create a separate company, was the high-performance label for Volvo - like AMG for Mercedes - and hence the Swedish connection. Volvo remains the majority shareholder, although Volvo is itself part of China’s Geely group. Polestar cars are manufactured in China.

    After studying at university at Pforzheim in Germany, Ingenlath obtained a masters in vehicle design at London’s Royal College of Art. He joined the Volkswagen group and worked for its Audi subsidiary. He rose to chief exterior designer for Volkswagen, then chief designer for its Skoda range.

    In 2006, he became Director of Design at the Volkswagen Design Center in Potsdam. In 2012, he switched to Volvo, as head of design and led the product turn round. Six years ago, he was put in charge of Polestar.

    He’s helming the company to fit neatly into a gap that is opening up in a market once dominated by Tesla. Elon Musk’s brand is still the leader, but whereas Tesla was once disruptive it’s looking more like a large, established car manufacturer. Musk’s courting of controversy, that has seen him become an increasingly divisive figure, has not helped Tesla’s standing. That’s created an opportunity for Polestar to challenge Tesla on price, performance and innovation. Musk’s car no longer turns heads, unlike Ingenlath’s uniquely-shaped Polestar.

    It’s possible to see elements of previous designs for Audi and Volvo in the Polestar and it oozes Scandinavian cool. But Ingenlath is very much his own man, responsible not only for giving Polestar cars their distinctive head-turning appearance but also for defining the whole brand, which includes changing the way his cars are sold.

    For him, he says, design is not just about looks but about the whole brand’s approach, and that means instigating a revolution in selling. Go to Polestar’s spaces in the 27 markets in which it sells and you will not be sold the car. Its staff are paid salaries and that’s it – they do not earn commission from selling cars. They’re there to inform and assist, to answer queries, to take on test drive; the cars are sold entirely online.

    “The Polestar Space is entirely about you, the customer, and the car” says Ingenlath. “It’s not about creating an environment in which a salesperson can conclude a deal.” In that respect, Polestar is the same as Apple – the Apple Store staffer is there to explain and help, not sell you something you might not want or be unable to use. “There’s no bargaining; people want certainty that they’re not being ripped off,” he says. “They don’t want someone saying they can them do a ‘special price’ on something parked around the back.”

    All the form filling, the finance, it’s done remotely. There’s no sitting at a desk in a showroom, having a coffee and succumbing to the patter. If they believe the car may not be right for you, they will say so. Remarkable, and refreshingly different from elsewhere. He grins. “We’re able to do these things because we’re new, because we’ve not inherited a dealer network.”

    A word he returns to time and again, is “transparency”. It applies right across the piece, everywhere in the supply chain, sale and afterwards. Every Polestar has a “lifecycle assessment”, clearly detailing for each customer the environmental impact of their car.

    Ingenlath is not playing at being green, paying lip service to climate change concerns, his company really is green – and it’s a car company to boot. His “moon-shot goal”, which he is actively pursuing, is having “a truly climate-neutral production car by 2030”. That’s some aim if you consider all the elements that go into making a car. As he says: “Many consider it impossible, but we dare to differ. And by 2030, we intend to make it happen.”

    That means, “We will eliminate, not reduce, all greenhouse gas emissions from every aspect of production. From conception all the way to customer delivery, our target will be met without resorting to offsetting. Zero will mean zero.”

    He sees his role as “creating a desirable brand, about creating a brand that fits with lifestyle brands. It’s about interpreting where tech is going, about where society is going and where we, as a company, fit in with that.” It’s an obvious advantage, that “the company is young, so we’re not held back by our past. A lot of what I do is to make sure we stay relevant in the future.”

    To think, I say, he’s not mentioned any of the things that motor CEOs often want to discuss such as production rates, sourcing of parts, rising costs. “I can if you wish,” he says, his eyes twinkling. There’s no need, I reply. We’re both laughing.
  4. forum rang 9 nine_inch_nerd 7 maart 2023 16:55
    Ik blijf maar alle info delen hier, maar van mijn positie PSNY word ik toch niet echt vrolijk. Vandaag ook weer. In de top 2 van de sterke dalers en vergeleken met de andere EV's is PSNY toch wel de minst slechte qua performance en dan druk me nog lichtjes uit. Dus onnavolgbaar.
    Zeer deprimerend dit...

    2024-2025 zullen we meer weten als de procesverliezen weg zijn en het bedrijf echte winst zou moeten maken.
    Het blijft wel een elite auto met geen prijsverlaging en dus hoge prijzen voor met name Polestar 3 - 4 - 5.
    Baart me wel zorgen.
  5. forum rang 4 StartendeBelegger 7 maart 2023 17:12
    quote:

    nine_inch_nerd schreef op 7 maart 2023 16:55:

    Ik blijf maar alle info delen hier, maar van mijn positie PSNY word ik toch niet echt vrolijk. Vandaag ook weer. In de top 2 van de sterke dalers en vergeleken met de andere EV's is PSNY toch wel de minst slechte qua performance en dan druk me nog lichtjes uit. Dus onnavolgbaar.
    Zeer deprimerend dit...

    2024-2025 zullen we meer weten als de procesverliezen weg zijn en het bedrijf echte winst zou moeten maken.
    Het blijft wel een elite auto met geen prijsverlaging en dus hoge prijzen voor met name Polestar 3 - 4 - 5.
    Baart me wel zorgen.
    Klopt is niet heel leuk inderdaad. Toch blijf ik vertrouwen hebben in een goede afloop.

    En ja die prijsverhogingen en/of verlagingen. Niet alle automakers kunnen het zich nog veroorloven om prijsverlagingen door te voeren. Ook bij Tesla moeten we nog zien of dit ten koste gaat van de cijfers.
  6. forum rang 9 nine_inch_nerd 9 maart 2023 15:34
    quote:

    Akwaba schreef op 9 maart 2023 15:22:

    seekingalpha.com/news/3944373-polesta...
    Bedankt.

    Je moet je inloggen om het te kunnen lezen, dus bij deze.

    Deutsche Bank kept a cautious view on Polestar Automotive Holding UK (NASDAQ:PSNY) on Monday with a Hold rating kept in place. While the electric vehicle maker delivered solid Q4 earnings and reaffirmed its deliveries guidance, analyst Emmanuel Rosner and team are on the lookout for additional funding needs.

    "We view the volume target as fairly achievable in light of the 4Q exit rate, despite expected seasonal weakness in 1H and ongoing supply-chain disruption in the year, given PSNY is somewhat shielded from industry challenges through its contract manufacturing with Geely/Volvo. We note though that gross margin progression is a bit below expectations, coming in about flat YoY around 5%, reflecting lagged raw material headwinds and adverse geo mix especially earlier in the year."

    The firm cut its price target to $7.00 from $9.00 vs. the 52-week trading range of $4.00 to $13.36.
  7. forum rang 9 nine_inch_nerd 14 maart 2023 18:03
    Polestar op twitter:

    Following recent events in US, we want to be clear that Polestar maintains prudent risk approach to financial assets or material exposures, backed by our diversified global footprint.
    With sufficient funds through 2023, we remain laser focused on business execution, including start of production of Polestar 3 and launch of Polestar 4.
  8. forum rang 9 nine_inch_nerd 15 maart 2023 14:01
    quote:

    StartendeBelegger schreef op 14 maart 2023 22:17:

    ATL is ook bereikt. Je zou toch zeggen dat dit een koopje is nu?

    8 miljard voor zo'n bedrijf. Word een aandeel voor de lange adem.
    Bewust gisteren niet gereageerd. 'adem in, adem uit' :)
    Het wordt long!
    Ik koop niks meer bij (buy the dip). Mijn max-inleg/aandeel is bereikt.
  9. forum rang 4 StartendeBelegger 15 maart 2023 14:33
    quote:

    nine_inch_nerd schreef op 15 maart 2023 14:01:

    [...]

    Bewust gisteren niet gereageerd. 'adem in, adem uit' :)
    Het wordt long!
    Ik koop niks meer bij (buy the dip). Mijn max-inleg/aandeel is bereikt.
    Ik kan nog 1 keer goed inkopen, daar wacht ik nog wel even mee om eventueel mijn gak onder de 6 te krijgen.
  10. forum rang 9 nine_inch_nerd 16 maart 2023 16:51
    quote:

    StartendeBelegger schreef op 15 maart 2023 14:33:

    [...]

    Ik kan nog 1 keer goed inkopen, daar wacht ik nog wel even mee om eventueel mijn gak onder de 6 te krijgen.
    En, gelukt. ;)

    Ter info:
    Very soon, next edition of our Polestar 2
    twitter.com/ThomasIngenlath/status/16...
  11. forum rang 9 nine_inch_nerd 17 maart 2023 23:29
    quote:

    nine_inch_nerd schreef op 14 maart 2023 18:03:

    Polestar op twitter:

    Following recent events in US, we want to be clear that Polestar maintains prudent risk approach to financial assets or material exposures, backed by our diversified global footprint.
    …..

    Alle EV’s zakken flink sinds al die banken kwesties. Mij valt alleen op dat PSNY hardere klappen krijgt.
    Zou het iets te maken hebben met bovenstaande quote?
    Misschien vindt men dit verdacht en is het misschien nét niet zo en met dat citaat het ‘te verdoezelen’ cq ‘goed te praten’.
    Ik vraag me dit af…
  12. forum rang 9 nine_inch_nerd 19 maart 2023 16:54
    quote:

    De dagkoers schreef op 18 maart 2023 19:33:

    Ik word er ook niet goed van. Mijn grootste posities zijn Polestar, Allego en Ebusco.
    Van de laatste 2 nog een paar keer bijgekocht van de week. Om het vervolgens weer met procenten te zien zakken.
    Ik hou wel geloof in alledrie, maar het is moeilijk.
    Alle EV’s zakken ....
    Moeilijk, ja.
699 Posts
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