- Polestar’s global electric vehicle sales declined by 15% in 2024 compared to the year before.
- Now, with a sales- and business-focused CEO in charge, the automaker hopes to turn things around this year.
- CEO Michael Lohscheller has reportedly asked his deputies to lure in Tesla buyers who feel uncomfortable being associated with Elon Musk’s politics.
Tesla CEO Elon Musk’s growing foray into global politics might be rubbing many of his would-be customers the wrong way. Now, Polestar’s new CEO, Michael Lohscheller, sees that as an opportunity for his brand.
Polestar‘s sales haven’t been great as it waited for new models like the Polestar 3 and Polestar 4 to join the family. The Geely Group-owned automaker sold just 44,851 EVs worldwide in 2024, down 15% from the previous year. Musk, on the other hand, has been less focused on Tesla’s passenger car business, given his new advisory role in President Trump’s government and pivot towards AI and robotics.
Tesla owners have felt neglected and antagonized by the CEO’s politics (even buying anti-Musk bumper stickers for their cars), and the brand’s sales declined for the first time last year in over a decade last year. Its U.S. EV market share has been declining for consecutive quarters, accounting for about 44% of the U.S. EV market in the last quarter.
“A lot of people have a very, very negative sentiment,” Lohscheller told Bloomberg, referring to Musk attempting to exert his influence on European politics.
Photo by: InsideEVs
Musk has become increasingly interested in German and British politics and has voiced his support for far-right parties. At President Trump’s inauguration on Monday, he pounded his fist on his chest and then extended it in the air, a gesture that far-right supporters immediately embraced.
German-born Lohscheller praised Musk’s business acumen before criticizing his interference in Europe’s politics. “I think it’s totally unacceptable. You just don’t do that. This is pure arrogance,” he said in the interview. Now, he has asked his sales executives to lure potential Tesla buyers who aren’t keen on being associated with the brand.
This approach isn’t new. Tesla’s rivals have been offering conquest deals on their EVs for months. Most CEOs, however, haven’t been as vocal in criticizing Musk. Polestar, at this stage, probably needs every trick up its sleeve to turn things around.
All its EVs are made in China, except the Polestar 3 for the U.S. market, which is also made at Volvo’s Ridgeville, South Carolina plant and Geely Group’s plant in Chengdu, China.
Before passing the torch to President Trump, the Biden administration finalized the ban on Chinese software and hardware, effectively prohibiting made-in-China vehicles from entering the U.S. Chinese EVs already faced a 100% import tariff before that. This jeopardizes Polestar’s business, but now, with a new sales- and business-focused CEO in Lohscheller, the automaker hopes to turn things around. It is targeting a 30-35% sales volume growth this year.
It has gone from being a one-car brand in the U.S. to offering three models. That includes the Polestar 2 (coupe), Polestar 3 (SUV) and the imminent Polestar 4 (crossover coupe). The Polestar 5 luxury sedan is due this year and the automaker also announced Polestar 7 last week, a compact SUV that will be made in Europe later this decade. Polestar EVs also got Tesla Supercharger support last year, opening up access to nearly 18,000 additional plugs across the U.S., which should make road-tripping a lot easier.
“We expect 2025 to be the strongest year in Polestar’s history,” Lohscheller said.
