Lohscheller: "Polestar has reversed its revenue and sales trend. The EU should not change its mind about 2035."

MONACO - "Cost control, increased sales outlets, and good products: this is how Polestar has reversed the trend in recent months." Michael Lohscheller, the new CEO of the Swedish carmaker controlled by Geely, speaking on the sidelines of the unveiling of the new, powerful electric GT Polestar 5 at the IAA in Munich, explained the signs of recovery for the group, which just a year ago seemed to be in deep crisis. And in this interview, he explains his cure.

Dr. Lohscheller, what is Polestar's financial and sales situation today?

"So, first of all, we can improve a lot. We increased our sales in the first half of the year by 51%. This is a very strong result and has a lot to do with both an increased presence of stores and the arrival of new models, like the Polestar 4. These two elements have helped us increase sales."

But the financial results are not yet positive.

"If we look at our financial results published last year, revenues grew significantly, by over 56%. However, our gross margin is still not positive, so we're trying to optimize our product-country mix, and at the same time, costs are decreasing."

How do you reduce costs?

"By focusing, setting priorities, and not doing everything. Even in marketing: we prefer more live events to television. So focus, being close to people, and more collaboration with the network, because agents know their customers better. In Italy, for example, an Italian agent will definitely be better than me at selling a car in Italy."

You just unveiled the Polestar 5, will there be other models coming soon?

“The next one will be the Polestar 7, a compact SUV that we will launch in 2028.”

What is the best market for Polestar?

“The United Kingdom. It's very strong.”

And are you thinking of entering other markets?

"We've decided to enter France, which is an important market for us. We have other ideas, we're exploring new opportunities, other markets, but Europe is the priority."

Polestar is a brand strongly tied to the design that characterizes all its current models. Are you thinking of changing it or are you satisfied?

"I think the character is already very good. We'll certainly develop it further, but it will be an evolution, not a revolution."

What do you think of the debate with the European Union regarding the 2035 deadline for phasing out internal combustion engines? Would it be a problem for Polestar, which you claim is the only European brand producing only electric cars, if that goal were abandoned?

"We keep our promises. We've been discussing this for many years, and we want to stay on track: the future of mobility will be zero-emissions, and electric cars will play a key role. So I believe we should maintain our course, not change it."

Ok, but maybe you could make a lot of money by selling your CO credits, right?

"The situation won't change so quickly. We need to ensure continuity. I'm concerned about consumers: they risk thinking, 'Where's the direction?' We need clarity and consistency. We need to invest in the future, not the past."

So you don't agree with the manufacturers who are asking for a postponement of the 2035 deadline?

“No, not at all.”