Michael Lohscheller, CEO of Polestar Automotive Holding UK Plc NASDAQ: PSNY), says that switching from a Tesla into one his company’s electrified vehicles is a good idea.
Lohscheller praised his company’s “great cars,” in an interview this morning with CNBC, and added “we have a lot of contacts, a lot of feedback, and we feel this sentiment, too.”
Polestar’s new CEO remains optimistic despite the fact that retail sales were down 15% year over year at Polestar’s end of last year.
As of this writing, the shares in the market for electric vehicles are trading at a fraction the price they were traded at late 2021.
Polestar has committed to increasing sales by 2025
Polestar expects to burn cash for two more years.
But during that time, the company will be focusing on improving sales, cutting costs, developing new products, and growing the overall business.
Lohscheller, CEO of Lohscheller, says that all we need to do now is execute for credibility to arrive.
To see this reflected in four companies’ assessment, we must demonstrate our ability to execute the plan. Our commitments must be met.
Polestar’s stock price is down 15% from its high for the year.
PSNY has seen an increase in the total number of orders.
Michael Lohscheller, in his remarks for “SquawkBox Europe”, said that Polestar was focused solely on the things it could control: “our cars” and “our increase in sales numbers”.
Polestar’s execution abilities will be demonstrated in the first three months of the year, which may lead to a rise in share prices in the second half of 2025.
The chief executive announced on Friday that “our orders are up. A few things are going in the correct direction.” PSNY’s order intakes increased by more than 37% in the fourth quarter of last year.
Polestar does not offer a dividend, so it is difficult for investors to hold out for a better situation.
Analysts at Cantor recently downgraded Polestar shares
Analysts at Cantor-Fitzgerald seem to be in disagreement with Polestar’s CEO, who is optimistic about the future of his company. Last week, Cantor Fitzgerald downgraded its rating of the EV to “neutral”.
After Trump’s election victory in 2024, there has been an increase of negativity towards electric vehicles companies.
The Republican leader will likely repeal portions of the Inflation Reduction Act, which currently encourage the purchase of certain battery-powered cars.
Tesla Inc. is one name that has done well in spite of the uncertainties. Experts attribute the strong performance of its shares to Elon Musk, the billionaire CEO who is close to President Obama.
This article Tesla or Polestar? Michael Lohscheller’s argument may change as new information becomes available
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