Polestar's Q1 loss nearly doubles amid tariff pressures. Sweden's EV maker, majority owned by China's Geely, reported a net loss of $383 million in the first quarter, more than double the $166 million loss from a year earlier. Despite a 7% sales increase in Europe, the company faces mounting headwinds from US tariffs that have compressed margins and raised manufacturing costs. Revenue remained flat at $633 million as the product mix shifted toward lower-priced models. The automaker is aggressively cutting costs and restructuring operations while burning through cash reserves, which fell from $1.16 billion to $676 million in just three months. Polestar is banking on new model launches including updated variants of the Polestar 4, a refreshed Polestar 2 in 2027, and the compact Polestar 7 SUV to stabilize its financial position.
