The latest performance report released by Polestar, which is listed on the Nasdaq in the United States, shows that although its sales in China are decreasing, its global sales have increased significantly in the first half of 2025.
The Polestar logo and booth, owned by Geely. (Image from Visual China)
On September 3rd, Polestar released its first-half financial results. Data showed that the company's revenue reached $1.423 billion in the first half of the year, a year-on-year increase of 56.5%. Retail sales increased by 51.1%, with over 30,000 vehicles sold.
Although the sales volume increased significantly, the company's losses increased even more, with a net loss of US$1.193 billion, an increase of 119.4% from US$544 million in the same period last year, and a gross profit margin of negative 49.4%.
Polestar explained in its financial report that the main reason for the widening loss was a $739 million non-cash impairment charge incurred in the second quarter. This impairment charge was related to Polestar 3 assets.
Currently, Polestar is making good progress in the European market, but in the US market, its sales in the second quarter of 2025 dropped sharply by 56% year-on-year. In the Chinese market, its sales in the first half of 2025 were reported to be only 69 units, making it a marginal product.
