STOCKHOLM (Reuters) – Swedish electric vehicle (EV) maker Polestar said on Thursday it had lowered its 2023 production guidance and would cut headcount by 10%.
The auto maker said that as a result of a delayed production start for its Polestar 3 and a challenging environment for the industry it now expects volumes to be between 60,000-70,000 cars this year, versus the 80,000 it had previously predicted.
The Swedish carmaker, founded by China’s Geely and Volvo Cars, posted a first-quarter operating loss of $199.4 million, narrowing from a loss of $257.9 million a year ago.
(Reporting by Marie Mannes, editing by Terje Solsvik)
