Swedish premium electric vehicle (EV) manufacturer Polestar has released a 2030 “concept car” after being forced to revise down its sales guidance for 2026 following lacklustre half year financial results which were impacted by new regulatory restrictions in the United States.
Polestar reported revenue down 4 per cent to $US1.36 billion through the first half of 2026, due in large part to regulatory restrictions in the US.
Polestar, owned by China’s Geely, announced in June that it had been unable to secure an exemption under the Connected Vehicle Rule, which bans imports and sales of connected vehicle hardware and software linked to China and Russia.
As a result, Polestar will be unable to sell model year-2027 and onward vehicles in the US. Polestar will therefore only continue in the United States by selling existing inventory from previous model years, after which it will cease the sale of new vehicles and prioritise its activities in the US to supporting existing customers.
With these restrictions hampering the company in one of the world’s largest automotive markets, Polestar has been forced to revise down its 2026 sales guidance, which it now expects will to be in the low-to-mid single-digit volume growth range, down from the previously advised low double-digit volume growth.
Polestar remains doggedly optimistic, however, even as investor confidence plummeted, with the company’s stock falling by 27 per cent after it reported its H1’2026 financial results.
“The operational improvements being implemented across the business are starting to show results,” said Michael Lohscheller, Polestar CEO.
“We cut our reported operating loss by 43 per cent in the first half of 2026 versus last year, when a significant net impairment expense impacted our results. Working in a challenging environment, we continue to be disciplined in our execution and focused on improving the business.
“Following the opening of orders for Polestar 4 SUV, production has ramped up in Busan, South Korea. The first cars have been shipped from the factory and are set to be delivered to customers during the fourth quarter. The first Polestar 5s are expected to reach customers in the coming weeks – setting us up for an exciting end to the year.”
The company meanwhile also released its “Formula 2030 concept car”, which it says is part of a broader design review being led by head of design Philipp Römers, and part of efforts to lift sales and reach profitability.
“Polestar’s design and brand is already so strong, it was obvious we needed a bold evolution not revolution of what came before,” he said. “Formula 2030 delivers this, showcasing our future while respecting brand-defining elements like the familiar Dual Blade headlights ensuring it remains recognisably a Polestar with a strong, characterful identity.”
The showcar will make its global debut later this year, as part of the media drive of the new Polestar 4 SUV.
