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EV maker Polestar (PSNY) delivered roughly 15,800 vehicles in the second quarter of 2023, up 31% from Q1. Polestar’s stock is trending, up 5%, following the rising deliveries.

Polestar records over 15K deliveries in Q2, stock spikes

After delivering 12,076 vehicles in the first three months of the year, Polestar raised concerns by lowering its annual global volume from 80K to between 60K to 70K.

The lower guidance came following a delay in producing its first electric SUV, the Polestar 3. Polestar initially planned to launch the electric SUV during the second quarter but pushed it back until the first quarter of 2024.

Polestar said it was “recently informed that additional time for final software development of the new all-electric platform shared by Volvo Cars is needed.” Volvo also delayed production of the EX90 until the first half of next year.

Despite the hurdles earlier this year, Polestar reported Q2 deliveries Thursday, indicating strong first-half results. Through the first half of the year, Polestar’s deliveries reached around 27,900.

Polestar-Q2-deliveries
Polestar 3 electric SUV (Source: Polestar)

The EV maker says it’s still on track to reach its 60K to 70K delivery goal this year. Thomas Ingenlath, Polestar’s CEO, commented on the progress, saying:

As expected, deliveries have continued to gather pace from month to month, resulting in a record second quarter. I’m confident this trend will continue into the seasonally stronger second half of the year, which will also see the first deliveries of our significantly upgraded Polestar 2, with up to 22% longer range.

Polestar revealed last month that the 2024 Polestar 2 will start at $51,300 (including the destination fee) and will feature bigger batteries and more powerful motors alongside several other upgrades.

2024-Polestar-2-price
2024 Polestar 2 (Source: Polestar)

Deliveries of the Polestar 2 are expected to begin in August 2023. Meanwhile, the EV maker was part of a recent wave of automakers, including Ford, GM, Rivian, Volvo, and more, that revealed plans to adopt Tesla’s NACS to gain access to the Supercharger network.

Polestar’s stock is trending up following the news. Shares are up over 27% over the past month, with solid Q2 deliveries from several EV makers, including Tesla and Rivian. However, Polestar shares are still down over 56% over the past 12 months.

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Tesla gets more than 20% of its parts from Mexico, yes it will be affected by tariffs

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Tesla gets more than 20% of its parts from Mexico, yes it will be affected by tariffs

Tesla gets more than 20% of its parts from Mexico, as well as some from Canada on top of it. So, yes, Tesla will be negatively affected by the tariffs.

However, there’s another one-month delay.

I didn’t think I would have to write this article, but I have seen plenty of “Tesla influencers” claim that Tesla would not be affected by President Trump’s current trade war:

This is false. Tesla gets a significant percentage of its car parts from Mexico and Canada.

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NHTSA releases data about the sourcing of parts for all vehicles in the US. Unfortunately, it doesn’t account for the US and Canada together, but it also lists the country of origin for the next largest source of parts.

For Tesla, that’s Mexico for all car models:

Models US/Canada Mexico
Model 3 LR AWD/RWD 75% 20%
Model 3 Performance 70% 20%
Model Y LR AWD/RWD 70% 25%
Model Y Performance 70% 20%
Cybertruck 65% 25%
Model S 65% 20%
Model X 60% 25%

This means that Tesla gets more than 20% of its parts from Mexico in addition to what it gets from Canada.

It’s also noteworthy that Tesla’s most popular car, Model Y, gets 25% of its parts from Mexico.

Despite free trade agreements with Canada and Mexico, Trump has implemented 25% blanket tariffs on the countries.

The tariffs were delayed last month, but they went into effect on Tuesday.

However, today, the White House confirmed that they were delayed again just for the automotive industry. Trump reportedly had a call with the big three this morning, Ford, GM, and Chrysler, and he agreed to another one-month delay.

If you needed more proof that Tesla is going to be affected by the tariffs, ever they go into effect, Tesla’s stock was up 2% on the news that Trump agreed to delay the tariffs.

Electrek’s Take

Tesla fans are delusional. They think that because Elon is involved with Trump and he is not fighting the tariffs, it means that it wouldn’t negatively affect Tesla.

That’s a false assumption. Elon is not fighting because he is either completely delusional about Tesla himself or just doesn’t care.

If the tariffs are ever implemented, they will negatively affect Tesla. They will increase the cost of all Tesla vehicles. Some automakers will be more affected, but Tesla will be hurt, too.

The tariffs are a complete mess. They are on one day and delayed the next. I doubt they will ever be in place for any significant length of time.

Their only real impact is making Canadian and Mexican buyers and businesses think twice about doing business with the US. This impact will likely last longer than the tariffs and Trump’s administration.

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Meet the Chevy Silverado EV Trail Boss and 1,100 hp ZR2 electric race truck concept

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Meet the Chevy Silverado EV Trail Boss and 1,100 hp ZR2 electric race truck concept

The Silverado EV just got the ZR2 treatment. With its first off-road electric truck arriving this summer, the Silverado EV Trail Boss, Chevy is hyping up the more capable variant with the 1,100 horsepower Silverado ZR2 race truck concept.

Chevy unveils Silverado EV ZR2 and Trail Boss models

Chevy unveiled the Silverado EV ZR2 off-road truck concept at The Mint 400 on Wednesday, dubbed America’s oldest and most prestigious off-road race.

Like the Colorado and Silverado ZR2 models, the electric truck features a lifted suspension fine-tuned for off-road performance, Multimatic damper technology, locking differentials, and underbody skid protection. Chevy said Multimatic Adaptive Spool Valve is the “cornerstone” of its off-road performance.

After only five months of development, Chevy launched the Silverado EV ZR2 concept, which features around 98% GM production parts.

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Powered by three electric motors, the race truck delivers a whopping 1,100 horsepower and 11,500 lb-ft of torque, earning it the ZR2 badge. The off-road EV truck comes after Chevy unveiled the 1,300 horsepower Blazer EV.R last month, also with a tri-motor powertrain.

Chevy-Silverado-EV-Trail-Boss
Chevy Silverado EV Trail Boss (left) and ZR2 race truck concept (Right) Source: GM

Chevy revealed the ZR2 concept ahead of the highly anticipated Silverado EV Trail Boss edition. The first off-road Silverado EV variant will arrive this summer with factory-installed 18-inch wheels, 35-inch all-terrain tires, red tow hooks, and more. It will also feature a new “Terrain Mode,” enabling it to maneuver in tight spots.

The Silverado EV ZR2 will hit the track to compete in the Open Production EV class on Saturday, March 8th, driven by Chad Hall.

Chevy will reveal more details on the Trail Boss model, including pricing and full specs, closer to launch. Currently, there are two Silverado EV trims (not including the Work Truck) to choose from: LT or RST. The LT starts at $73,100 and has an EPA-estimated range of 408 miles.

2025 Chevrolet Silverado EV Trim Battery Pack   Range Starting MSRP (Including $2,095 DFC) 
LT Extended Range  408 miles (EPA-estimated)   $75,195  
Extended Range with LT Premium Package  390 miles (EPA-estimated)  $81,995 
RST Extended Range  390 miles (EPA-estimated)  $89,395 
Max Range   460 miles (GM-estimated)  $97,895 
2025 Chevy Silverado EV prices and range by trim (Source: Chevrolet)

Starting at just under $90,000, the RST gains a Multi-Flex Midgate, a panoramic sunroof, 24″ wheels, GM’s Super Cruise driver assistance, and more. The range-topping Extended Range RST model delivers up to 460 miles range, but it will run you around $98,000.

Ready to test drive Chevy’s electric truck to try it out for yourself? You can use our link to find Chevy Silverado EV models near you today.

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You can lease a 2025 Polestar 3 for the same price as a Polestar 2 right now

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You can lease a 2025 Polestar 3 for the same price as a Polestar 2 right now

Polestar’s March incentives have an interesting twist – the 2025 Polestar 3 has the same lease price as the Polestar 2, even though there’s an $8,600 gap in their sticker prices.

The Polestar 3 starts at $74,800, while the Polestar 2 comes in at $66,200. But when it comes to leasing, as CarsDirect flagged, both EVs are being offered at $599 per month for 27 months, with $5,599 due at signing and a 10,000-mile annual limit, until March 31.

The 2025 Polestar 3 lease deal applies to the LR Single Motor Plus trim, while the 2025 Polestar 2 offer is for the LR Dual Motor Performance. That helps explain why both EVs are available with the same lease terms, despite their price difference.

The LR Single Motor trim is the most budget-friendly version of the Polestar 3, packing 299 horsepower and 361 lb-ft of torque. It can hit 60 mph in 7.5 seconds and offers up to 350 miles of range. Meanwhile, the Polestar 2 only comes in the LR Dual Motor Performance trim, which cranks out 476 hp and 546 lb-ft of torque. It’s much quicker off the line, reaching 60 mph in just 4 seconds, but it tops out at 254 miles of range.

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The main reason the Polestar 2 and Polestar 3 share the same lease deal comes down to incentives. The Polestar 3 qualifies for a $15,000 Clean Vehicle Incentive – only available for leases – which is double the $7,500 incentive that applies to the Polestar 2. And if you drive a leased or owned Tesla, Polestar is also offering an additional $5,000 Conquest Bonus for your car on Polestar 3 leases until March 31. But if you’re looking to buy the Polestar 2 or 3, there’s no standard rebate on the table.

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Read more: Polestar 3 first drive: This all-electric SUV is masterfully tuned and sneaky fast


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