Polestar said to goodbye to one fourth of its employees

Polestar, the Swedish electric car maker, announced that it would lay off 15% of its workforce worldwide. This amounts to about 450 employees.

The decision is motivated by the company’s desire to reduce costs and become more profitable. Polestar had a difficult 2023, with only 54,600 cars sold worldwide.

The price war launched by Tesla, inflation, and supply chain problems have weighed on the company’s results.

Polestar is not the only electric car brand to be affected by the crisis. Carlos Tavares, CEO of Stellantis, recently warned that the sector would experience a “bloodbath.”

Polestar aims to be profitable by 2025. To achieve this, the company will launch two new models this year: the Polestar 3 and the Polestar 4.