Polestar, the Swedish electric vehicle maker, has reduced its production
guidance and announced job cuts. The company cited supply chain issues and
the ongoing semiconductor chip shortage as the reasons for the production
cut. Polestar had planned to produce 25,000 vehicles this year but has now
cut its target to 20,000. The company has also announced that it will be
cutting jobs in its offices in Sweden and China. The exact number of job
cuts has not been disclosed yet. The company, which is owned by Volvo Cars
and Geely Holding, said that it remains committed to its long-term growth
plans.
guidance and announced job cuts. The company cited supply chain issues and
the ongoing semiconductor chip shortage as the reasons for the production
cut. Polestar had planned to produce 25,000 vehicles this year but has now
cut its target to 20,000. The company has also announced that it will be
cutting jobs in its offices in Sweden and China. The exact number of job
cuts has not been disclosed yet. The company, which is owned by Volvo Cars
and Geely Holding, said that it remains committed to its long-term growth
plans.
