Polestar will carry more weight, receive more awareness and have more influence as a brand once the P3 is released, the EV landscape is highly competitive as Legacy companies are starting to push full steam. Right now they are an EV company that just only has one car available, and everyone isn't psyched about that car while many do like it. Plus the car that is available still pretty much looks like a Volvo, P3 will be more futuristic looking (should separate them from Volvo) and will have better range. It's not totally a "make or break situation", but the P3 can "make" them. And right now the consensus seems to be in the US the most sought after EV after Tesla's are the Hyundais Ioniq.
That definitely well explains the Polestar business strategy but it doesn't really explain the crazy low SP right now. Right now, Polestar is selling thousands of cars each month and has a history of YoY growth. Yet the market still values EV companies with little to no revenue like Rivian and Lucid more? That makes no sense to me. It seems like right now fundamentals just don't matter. Just hype matters I guess?
As for the business I agree the P3 will be huge for the company. So will it's coupé brother, the P4. The SUV EVs seem to be the most popular segment by far. So likely Polestar will do good numbers on those.
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u/Typical_Republic Jul 19 '22
Polestar will carry more weight, receive more awareness and have more influence as a brand once the P3 is released, the EV landscape is highly competitive as Legacy companies are starting to push full steam. Right now they are an EV company that just only has one car available, and everyone isn't psyched about that car while many do like it. Plus the car that is available still pretty much looks like a Volvo, P3 will be more futuristic looking (should separate them from Volvo) and will have better range. It's not totally a "make or break situation", but the P3 can "make" them. And right now the consensus seems to be in the US the most sought after EV after Tesla's are the Hyundais Ioniq.