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Polestar Automotive expects positive adjusted EBITDA in 2025

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) swung lower in early trading after the electric vehicle maker reported Q3 results and updated on its profitability expectations. Revenue fell 10% in Q3 on a restated basis and adjusted EBITDA was -$181 million.
Polestar Automotive, a Swedish electric vehicle startup, has announced expectations to achieve positive adjusted EBITDA by 2025, as reported by Reuters. This optimistic forecast comes amidst a backdrop of financial challenges for the company, including a significant cash burn rate and a recent reduction in its 2023 delivery targets from 80,000 to between 60,000 and 70,000 vehicles. Despite these hurdles, Polestar's CEO Thomas Ingenlath expressed confidence in the company's strategic direction, highlighting the launch of new models like the Polestar 3 and Polestar 4, and the company's focus on cost reduction and operational efficiency. The company also plans to expand its market presence and is supported by its major shareholders, Volvo Cars and Geely, which are expected to provide further financial backing if necessary.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/general/polestar-automotive-expects-positive-adjusted-ebitda-in-2025/ar-AA1xj6cK ]