EV naysayers falling into “an incredible trap”, says Polestar CEO

Undeterred by manufacturers backpedalling on EV-only lineups after disappointing sales growth, Polestar remains optimistic.

Despite Volvo recently abandoning Polestar due to disappointing sales growth, Polestar CEO Thomas Ingenlath feels confident of the EV lineup, and that industry doubters of EV and associated technology are falling into “an incredible trap.”

Ingenlath told The Telegraph [↗] that, “There’s an incredible threat and danger if you don’t embrace future innovation and believe in that technology - the electric drivetrains, the innovation in battery, the innovation in modern electronics and software.”

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Polestar 4

He added, “If [manufacturers] don’t participate in that and you think you can wait, and the customers are ready for it, it’s an incredible trap.”

Ingenlath is not disappointed that other automakers have left a gap in the EV market, as it provides a potential space for Polestar to fill, saying “It’s an incredible opportunity for Polestar that, in that sector of premium performance cars, there is indeed not that much competition coming.”

With a recently acquired $1.5 billion AUD funding package from a group of financial institutions, Polestar may witness the results of Ingenlath’s optimism.