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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWhy Volvo has pulled the plug on its electric car brand
To hear him speak, you would think Volvo Cars Scottish chief executive Jim Rowan is very much an electric vehicle crusader. Standing beside the companys new EX30 as he unveiled the Swedish carmakers full-year results on Thursday, Rowan said Volvo was leading a paradigm shift for us and for our entire industry, boasting that only Tesla had stronger profit margins on sales of electric cars.
But that enthusiasm apparently no longer extends to Polestar, Volvos dedicated electric marque.
On Thursday, Volvo said it would no longer provide financial support to Polestar and would look at offloading some of its 48pc stake in the company to other shareholders, including Chinas Geely. (Most of the rest of Polestar is already owned by Geely chairman Eric Li.)
The news is the latest blow to Polestar, an early mover in electric cars that has struggled to keep up with premium rivals such as Tesla and which remains heavily loss-making despite its cars receiving critical acclaim.

sinkingfeeling
(54,015 posts)TwilightZone
(28,835 posts)And several plug-in hybrids:
https://www.volvocars.com/us/cars/plug-in-hybrids/
And mild hybrids:
https://www.volvocars.com/us/l/mild-hybrids/
Rowan would indeed be an "electric vehicle crusader". They're just not going to dump money into Polestar anymore.
TwilightZone
(28,835 posts)Though, it appears to be behind a paywall, at least in the US.
Johnny2X2X
(22,243 posts)Will occur frequently as consumers decide which EVs are best for them.
Voltaire2
(15,206 posts)Polestar was doomed anyway, this is just the official death certificate.
obamanut2012
(28,230 posts)Please add a link in your OP.