Not all Chinese-built EVs have the makings of a Tesla slayer like BYD.
Financially ailing carmaker Polestar is on the ropes, and analysts at investment bank Bernstein argue the only thing that may still save it is if parents Volvo and Zhejiang Geely of China, which together own nearly 88% of the stock, agree to take the company private just two years after shares began trading.
“We would like to see the concept and brand survive, but think it would make more sense for Polestar to eventually fold back into the Volvo Cars–Geely ecosystem,” Bernstein wrote, according to a research note cited by Bloomberg.
Tesla is driving for 20MM vehicles per year. They still have a long way to go, but they are balancing price to sell everything they can produce. If they can’t make enough vehicles, they raise the price… if the market isn’t buying cars because of high interest rates, they lower price to offset the added cost of the loan and spur demand. It’s more about driving production than undercutting the competition… that’s just a byproduct of the fact most legacy automakers sat on their heels for a decade thinking Tesla would fail. Now they have to catch up while people aren’t spending a lot of money on cars.