Volvo no longer funding Polestar

[Billbrown1982]

Can't imagine this will be great news for the brand.

Volvo Is Done With Polestar, Will Cease Funding And Likely Dump Stake To Geely | Carscoops

Volvo is looking to sell its shares in Polestar and focus instead in the development of its own next-gen models

www.carscoops.com

 

[Zilla91]

Seeing as it's owned by Geely, I'm sure they'll be absolutely fine

 

[UkNorthampton]

Can't imagine this will be great news for the brand.

Volvo Is Done With Polestar, Will Cease Funding And Likely Dump Stake To Geely | Carscoops

Volvo is looking to sell its shares in Polestar and focus instead in the development of its own next-gen models

www.carscoops.com

Selling to parent company Geely. Either Polestar bought on the cheap by Geely or, in my opinion, Polestar not a success and Geely want it off Volvo for some accounting or control aspect.

Geely EVs massively up in China in January while BYD down a lot.

There's some odd stuff going on in China, possibly related to boasting rights, bonuses, channel stuffing (excessive stock at dealers).

Plus disinflation, corruption crackdowns in China, Red Sea disruptions for exports. Probably won't find out what's happening for months.

 

[ajmorr.is]

So Volvo - who are owned by Geely - are no longer going invest any of their (Geely's) money into Polestar, also owned by Geely. Instead Volvo (owned by Geely) are going to sell their part of the ownership of the Geely owned Polestar to, errrr Geely.

Right.

 

[UkNorthampton]

View attachment 1016884

So Volvo - who are owned by Geely - are no longer going invest any of their (Geely's) money into Polestar, also owned by Geely. Instead Volvo (owned by Geely) are going to sell their part of the ownership of the Geely owned Polestar to, errrr Geely.

Right.

Perhaps then Mercedes which is 10% owned by Geely's chairman (personal capacity) might buy some Polestar ownership from Geely.

Or Lotus might buy some Polestar from Geely, Lotus' own parent company.

Somewhere beancounters are laughing, crying or both.

 

[ItsNotAboutTheMoney]

Good thing is that if they sell to Geely it'll stop people trying to say that Polestar isn't Chinese.

The Polestar 1 and 2 were made in China with the 2 made at the same factory as a Volvo.

 

[Zilla91]

Good thing is that if they sell to Geely it'll stop people trying to say that Polestar isn't Chinese.

The Polestar 1 and 2 were made in China with the 2 made at the same factory as a Volvo.

Who cares? All the Tesla's in the UK are built in China.

 

[Quamera]

Who cares? All the Tesla's in the UK are built in China.

So are the S and X still sold in the UK. They are not available in Australia anymore and I assumed that was because we got all our Teslas out of China which doesn't make S and X. There was also the possibility that they just didn't want to make RHD versions on the Fremont assembly line which would also apply to you if it was true but if the UK still has the S & X available then there is no logical reason why Tesla couldn't send some here as well.

 

[Zilla91]

I didn’t count the S and X because they’re only offered in LHD and I assume the sales over here are negligible

 

[MrT3]

So are the S and X still sold in the UK. They are not available in Australia anymore and I assumed that was because we got all our Teslas out of China which doesn't make S and X.

They are still sold in the UK but only LHD ones so sales numbers are very low. I believe it is illegal to sell new LHD vehicles in Australia (at least in some territories) so Tesla doesn't offer them for sale there.

 

[WannabeOwner]

There was also the possibility that they just didn't want to make RHD versions on the Fremont assembly line

I think that's unlikely. Sales of S and X are not great, they would have got a one-time-windfall from a production run of RHD. Seems extremely unlikely that they did not design the ability to make a RHD from the outset, and from what I have read it appears that there was some technical issue with doing RHD (once they came to the point of actually wanting to build some)