Swedish electric car company Polestar is cutting its global workforce by 15 percent. About 450 workers are expected to be laid off.”difficult market conditions.” The news comes despite a six percent increase in global car deliveries compared to 2022, according to the latest data fourth quarter global financial report.
However, the company has warned that it will reduce it Number of employees in May 2023 Around the same time, it announced that production targets had been reduced from its initial target of 10,000 to 20,000. Polestar defended their decision and explained that this was the case “enhances attention” reduce costs to make the business more efficient.
Despite shipping delays last year, 2024 Polestar 2 the range comes on strong with a new set of upgrades including longer mileage and faster charging. However, the company faces the problem that it may be stuck with a price tag of around $50,000 when buyers can get newer models made by competitors. Tesla for less than $10,000.
Job cuts have become common in the EV sector, with rivals such as Lucid Motors announcing layoffs. 18 percent of the workforce last year and Rivian cut six percent. These trends may be due to the fact that supply chain problems are a major problem worldwide EV industrycoupled with buyer’s hesitation invest electric cars.