{"id":76256,"date":"2024-08-28T11:56:26","date_gmt":"2024-08-28T15:56:26","guid":{"rendered":"http:\/\/autosector.com\/?p=76256"},"modified":"2024-08-28T11:56:26","modified_gmt":"2024-08-28T15:56:26","slug":"polestar-psny-loses-ceo-two-electric-suvs-hit-market","status":"publish","type":"post","link":"http:\/\/autosector.com\/?p=76256","title":{"rendered":"Polestar (PSNY) loses its CEO at a pivotal point as two new electric SUVs hit the market"},"content":{"rendered":"
\n\t\"Polestar-CEO\"<\/figure>\n

Polestar<\/a> (PSNY) just got a new CEO. Thomas Ingenlath is out, and Michael Lohscheller is taking the helm as the Swedish EV brand enters its next growth stage. With two new electric SUVs hitting the market, how will Polestar navigate the transition?<\/p>\n

<\/p>\n

\u201cI am very proud of what we\u2019ve achieved together in the last seven years,\u201d Ingenlath wrote<\/a> Wednesday.<\/p>\n

After turning its vision of becoming an electric premium brand with performance and design at its core, Polestar\u2019s former leader declared, \u201cThe dream became reality.\u201d<\/p>\n

Meanwhile, Ingenlath is leaving the company at a critical point. Many automakers have slowed EV investments, citing \u201cslower-than-expected\u201d demand just as Polestar launches two new electric SUVs.<\/p>\n

Polestar launched its first all-electric vehicle, the Polestar 2, in 2020. This year, two new EVs are joining the lineup.<\/p>\n

The company delivered the first Polestar 4 models<\/a> in Europe earlier this month, and North America and Australia will follow by the end of the year. Polestar\u2019s new premium electric SUV coupe arrives in Europe less than two months after the Polestar 3.<\/p>\n

\"Polestar-CEO\"
Polestar 4 (Source: Polestar)<\/figcaption><\/figure>\n

Both electric SUVs are expected to compete with top-selling premium models like the new Porsche Macan EV, Tesla Model Y, and BMW iX3.<\/p>\n

\u201cWith three models, Polestar is positioning itself as the design-led premium luxury electric car brand in the global EV market,\u201d Ingenlath said earlier this month.<\/p>\n

\"Polestar-CEO\"
Polestar 2 (left), Polestar 3 (middle), and Polestar 4 (right) (Source: Polestar)<\/figcaption><\/figure>\n

Michael Lohscheller takes over as CEO of Polestar<\/h2>\n

Polestar replaced Ingenlath with Michael Lohscheller, former CEO of Stellantis-owned Opel, Vietnam EV startup VinFast (VFS), and Nikola (NKLA). The change is effective October 1, 2024.<\/p>\n

Lohscheller said he\u2019s honored to join the Swedish EV brand at a critical point in the company\u2019s history.<\/p>\n

\"Polestar-CEO\"
Polestar 3 (Source: Polestar)<\/figcaption><\/figure>\n

\u201cPolestar has already established itself as one of the most desirable and innovative brands in the electric vehicle space, and I look forward to working with the talented team to build on this strong foundation and accelerate our development,\u201d he wrote.<\/p>\n

Winfried Vahland, Polestar\u2019s incoming Chairman, explained, \u201cMichael Lohscheller is the ideal leader to guide Polestar into its next chapter.\u201d<\/p>\n

\"Polestar-3-interior\"
Polestar 3 interior (Source: Polestar)<\/figcaption><\/figure>\n

Vahland added that Polestar (and Volvo) owner Geely is still \u201cdeeply committed\u201d to the EV maker\u2019s success.<\/p>\n

Like in Europe, the Polestar 4 will be available in Single and Dual Motor setups in the US. It will start at $56,300 with up to 300 miles range.<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n
Polestar 3 and 4 electric SUV by trim in the US<\/strong><\/td>\nStarting Price<\/strong><\/td>\nRange
<\/strong>(expected EPA-est)<\/td>\n<\/tr>\n
Polestar 4 Long Range Single Motor<\/td>\n$56,300<\/td>\n300 miles<\/td>\n<\/tr>\n
Polestar 4 Long Range Dual Motor<\/td>\n$64,300<\/td>\n270 miles<\/td>\n<\/tr>\n
Polestar 4 Long Range Dual Motor model (with Plus and Performance packs)<\/td>\n$74,300<\/td>\n270 miles<\/td>\n<\/tr>\n
Polestar 3 Long Range Dual Motor with Pilot Pack<\/td>\n$74,800<\/td>\n315 miles<\/td>\n<\/tr>\n
Polestar 3 Long Range Dual Motor with Pilot Pack and Plus Pack<\/td>\n$80,300<\/td>\n315 miles<\/td>\n<\/tr>\n
Polestar 3 Long Range Dual Motor with Pilot and Performance Pack<\/td>\n$80,800<\/td>\n279 miles<\/td>\n<\/tr>\n
Polestar 3 Long Range Dual Motor with Pilot, Plus, and Performance Pack<\/td>\n$86,300<\/td>\n279 miles<\/td>\n<\/tr>\n<\/tbody>\n<\/table>
Polestar 3 and 4 prices and range by trim for the US (*including $1,400
destination fee)<\/figcaption><\/figure>\n

After building its first Polestar 3<\/a> model in South Carolina earlier this month, the EV maker expects to expand in key auto markets like the US, Europe, and South Korea. The Polestar 3 starts at $73,400 in the US with up to 315 miles range.<\/p>\n

\"Polestar-CEO\"
Polestar (PSNY) stock over the past 12 months (Source: TradingView)<\/figcaption><\/figure>\n

Polestar\u2019s stock is down over 14% following the news on Wednesday. Polestar share prices are now down over 55% in 2024 and 74% over the past year.<\/p>\n

\n

FTC: We use income earning auto affiliate links.<\/em> More.<\/a><\/p>\n

\"\"<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Polestar (PSNY) just got a new CEO. Thomas Ingenlath is out, and Michael Lohscheller is taking the helm as the Swedish EV brand enters its next growth stage. With two new electric SUVs hitting the market, how will Polestar navigate the transition? \u201cI am very proud of what we\u2019ve achieved together in the last seven […]<\/p>\n","protected":false},"author":1,"featured_media":8313,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[4],"tags":[],"class_list":["post-76256","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-e-cars"],"_links":{"self":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/76256","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=76256"}],"version-history":[{"count":0,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/posts\/76256\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=\/wp\/v2\/media\/8313"}],"wp:attachment":[{"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=76256"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=76256"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/autosector.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=76256"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}