Volvo Shifts Polestar 3 Production Entirely To the US (arstechnica.com)
- Reference: 0181194318
- News link: https://tech.slashdot.org/story/26/03/31/2035210/volvo-shifts-polestar-3-production-entirely-to-the-us
- Source link: https://arstechnica.com/cars/2026/03/polestar-3-production-consolidated-to-the-us-to-keep-volvo-factory-busy/
> Volvo had a challenging 2025, with sales falling by 7 percent. Meanwhile, Polestar, which was spun out from the Swedish OEM's performance arm into a standalone startup in 2017, had a rather good 2025, seeing a 34 percent increase in sales. So increasing the proportion of Polestar 3s to come out of South Carolina seems sensible. And as we learned last September, the midsize electric Volvo EX60 will also go into production at the South Carolina site later this year, and then we'll see a still-unnamed hybrid Volvo in 2030.
>
> The two companies also announced today that Volvo agreed to extend part of a shareholder loan it made to Polestar and will convert the rest into Polestar shares. Polestar will still owe Volvo $661 million, due at the end of 2031, and another $274 million will become Polestar stock now, with a further $65 million in the second quarter of the year. Since December, Polestar has also raised $1 billion through three equity financing investments.
[1] https://arstechnica.com/cars/2026/03/polestar-3-production-consolidated-to-the-us-to-keep-volvo-factory-busy/
... after almost being delisted from NASDAQ... (Score:2)
Alright. I don't have anything against Polestar, but again, wtf happened to basic journalism?
It seemed strange that consolidating production in the US would save anyone money, but also this line about raising equity financing was weird:
" Since December, Polestar has also raised $1 billion through three equity financing investments".
A quick search or two later we find out (maybe it is known to some, but i didn't know) that they had to do a 30:1 reverse split in Dec 2025 to get their share price abov
Re: (Score:2)
Polestar makes a nice vehicle. I was seriously considering a used one because they were around $25k.
Re: (Score:2)
> Polestar makes a nice vehicle. I was seriously considering a used one because they were around $25k.
My own experience with used vehicles is that there's always some reason the previous owner got rid of it. At least with my Bolt that I'd bought used, that reason was the battery recall (which was replaced, and the powertrain warranty counter reset).
Also, now it's probably a bit late to get a good deal on a used EV now that gas prices are nuts and the used EV credit is gone.
Re: (Score:2)
> ... wtf happened to basic journalism?
You ask **THIS** question in 2026?
How long were you in that coma? :-)
I'd rather (Score:5, Interesting)
have a motherboard made in the US.
Re: (Score:2)
> have a motherboard assembled in the US.
There, I fixed it for you. We're way too far behind to do much other than order bags of parts from China and have robots (what, you thought we'd hire humans?) assemble them like IKEA furniture. Okay, we might need a human or two to refill the parts bins on the robots.
Just in time (Score:2)
for the illegal tariffs to be struck down.
Re: (Score:2)
Lulz. We do like our China-built EX30. Don't love it, but like it. Also, how many years did it take for Volvo to move production? 4 years of Biden. Over a year of Trump this term. And then how many years of Trump tariffs on Chinese cars before that? All for one model that will probably sell poorly. Call me when BYD is BYuilding in the US of A.
Re:A MASSIVE Trump WIN (Score:4, Funny)
But electric cars are WOKE! Seems like a massive failure by Trump.