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EV maker Polestar’s (PSNY) stock is down Friday after reporting 2023 results. Can Polestar’s new electric models help turn things around as losses rise? The report comes as the first Polestar 3 buyers received their electric SUVs this week.

Polestar stock drops after 2023 earnings results

After several months of delaying, Polestar released its 2023 financial results Friday, showing falling revenue and widening losses.

Polestar’s revenue slipped 3% from $2.45 billion in 2022 to $2.38 billion last year. The lower top line was mainly due to increased discounts and fewer carbon credit sales.

As a result, the EV maker’s operating losses rose 13% to $1.46 billion, up from $1.29 billion in 2022. Lower revenue and rising sales costs led to higher losses. It also included a one-time share-based listing charge of $372 million and a higher impairment of $450 million after reassessing Polestar 2 inventory.

Polestar sold 54,626 vehicles last year, up 6% from the 51,549 sold in 2022. The EV maker added 34 locations and 33 service points for a total of 192 and 1,149, respectively.

Polestar-new-EVs
Polestar stock chart over the past 12 months (Source: TradingView)

Polestar’s stock slid 4% on Friday following the 2023 earnings release. Polestar shares are down 63% in 2024 and over 92% from its all-time high.

Can Polestar turn things around as new EVs roll out?

Despite rising losses and lower revenue, Polestar believes new EVs, like the Polestar 3 and 4, will help boost sales.

Polestar expects to sell over 155,000 vehicles next year, a significant jump from the just under 55K sold in 2023.

Polestar-3-lower-priced
Polestar delivers first Polestar 3 electric SUVs (Source: Polestar)

The news comes after Polestar delivered its first Polestar 3 models to customers this week. Polestar is delivering the electric SUV across two continents as it rolls out to new markets throughout the year.

The first Polestar 3s were delivered in Sweden, while the North American Polestar 2 is handing over the first models in California, New York, and Illinois. On Friday, more models will be delivered to Germany and Norway.

Polestar-3-lower-priced
Polestar 3 Long range Single motor RWD model (Source: Polestar

Polestar also introduced a new lower-priced Long range Single Motor Polestar 3 model this week. The lower-cost model is available in Europe, starting at $85,500 (€79,890), including the handover fee. It will be available to order in the US, Australia, and other markets later this year.

Polestar will begin Polestar 3 production in South Carolina this summer to expand the brand in the US.

2025-Polestar-2
New 2025 Polestar 2 (Source: Polestar)

With the US setting a new 100% tariff rate on Chinese EVs, Polestar looks to overcome it with local production.

As the EV maker looks to gain market share, it also launched the new 2025 Polestar 2 with added Swedish Gold design elements and more range.

Can Polestar’s new EVs help boost sales? Let us know what you think in the comments.

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Lotus Cars quietly updates its 900+ hp Eletre and Emeya EVs for 2026

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Lotus Cars quietly updates its 900+ hp Eletre and Emeya EVs for 2026

Lotus Cars’ compelling, high-performance electric sports sedan and SUV received a number of fresh updates earlier this week, but packs superior infotainment tech, styling tweaks, and (of course) a mind-bending 905 electric horsepower. (!)

I haven’t checked the numbers, but I’d bet a dollar or three that Tesla moves more cars in a good week than Lotus sells in a year. Still, Lotus has managed to preserve its reputation as a maker of truly engaging drivers’ cars. Its latest EVs, the Emeya sedan and Eletre SUV, are generally regarded as dynamic, exhilarating machines that credibly carry Colin Chapman’s yellow badge.

For 2026, though, the Chinese versions of the updated Lotus EVs have black badges (the UK versions were announced back in April), but the new doesn’t stop there.

The next update on the list is the addition of 22″, 10-spoke ultralight alloy wheels across the entire Eletre lineup. Both the 600 and 600 SE variants retain last year’s 6-piston fixed front and floating rear brake calipers, while the top-tier 900 model gets a high-performance, 10-piston, carbon-ceramic braking system that’s more than capable of hauling the Eletre SUV down from speed, lap after lap.

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They’ll need those brakes, too – because these things are fast, and getting faster with seemingly every new software update. “Things can always go faster,” reads the official Lotus copy. “The new Eletre and Emeya ‘900’ provide unmistakable evidence, representing superlatives in terms of performance. Both rely on a 675 kW (~915 hp) strong dual-motor powertrain.”

Both Lotus 900s can put that power to the ground effectively enough to rocket from 0-62 mph (100 km) in a well under 3.0 seconds on their way to an electronically-limited top speed of 155 mph (256 km/h) in the Eletre, and 160 mph (265 km/h) in the Emeya. The 600s aren’t exactly slow, either, packing 405 kW electric motors (~600 hp) good for 0-60 times in the mid 4s.

Inside, the Eletre and Emeya designs carries over without major changes. Lotus enhanced the features list on various trims. The 600 models now include 12-way power-adjustable front seats with heating and ventilation, as well as 15-speaker audio systems from KEF. The 600 SE further adds a PDLC smart panoramic sunroof, 20-way power-adjustable front seats, front seat massage function, and active rear-wheel steering.

CarNewsChina reports that the updated 900 model builds upon the 600 SE’s new offerings with an intelligent, active anti-roll control suspension system.

Pricing for the 2026 Lotus EVs starts at 538,000 yuan (74,800 USD) in China, and climbs to over 838,000 yuan (116,500 USD) for the top-shelf Lotus Eletre 900 SUV. All models carry the same two-speed transmission and 112 kWh battery (102 kWh in the UK), good for up to 610 km (~375 miles) of driving between charges.

No word yet on if or when these updates will make it to America.

Electrek’s Take


It wasn’t that long ago that a 900+ hp car was a cammy, rough-riding mess of a machine that you could barely take through a drive thru, but could probably land on the cover of a car magazine. Today, that same 900 hp in a quiet, smooth, reliable EV hardly generates a headline. And, almost in defiance of the “everything just keeps getting more expensive” truism, these mind-bending supercars can be had for less than what cars like this used to cost with gas engines and a third of the power.

How far we’ve come!

SOURCE | IMAGES: Lotus Cars, via CarNewsChina.


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E-quipment highlight: 50 kW portable DC fast charger from Lincoln Electric

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E-quipment highlight: 50 kW portable DC fast charger from Lincoln Electric

The welding equipment experts at Lincoln Electric know a thing or two about high-voltage equipment. Now, they’re bringing that electrical expertise to a whole new market with a portable, self-contained, 50 kW DC fast charger designed to deliver a quick shot of range and get stranded drivers back on the road.

Lincoln Electric’s Velion 50 kW DC fast charger is pitched as a durable, compact mobile charging unit that’s perfect for tow truck operators and construction fleets dealing with vehicles and fleet assets that couldn’t quite make their way back to a charger. So, you’re looking at this and thinking of one of those red, 5-gallon gas tanks that helps get drivers off the highway and to the next exit, congratulations: you get it!

“[Velion is] Designed for flexible, mobile use,” said Bruce Chantry, Vice President, Electric Vehicle Solutions at Lincoln Electric, during a buzzword-packed introduction of the new machine. “Designed in collaboration with the market and leveraging decades of expertise in power electronics, our solution is engineered to provide the flexibility customers need today, with a future-ready design to meet the demands of tomorrow.”

Designed, engineered, and assembled in the United States with over 70% domestic content, the Velion charger meets all National Electric Vehicle Infrastructure (NEVI) and Build America, Buy America (BABA) requirements.

LINCOLN ELECTRIC

Lincoln Electric plans to sell the Velion DCFC to municipal fleets and state highway agencies, first, and envisions it being deployed in tough environments like construction sites, emergency response arenas, and complex fixed fleet depots. Car dealerships, museums, and probably ambulances too, could benefit – but I’m sure that’s just scratching the surface.

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Watch the Lincoln Electric launch video for the Velion from earlier this summer, below, then let us know how you’d like to see a mobile fast charger get deployed in the comments section at the bottom of the page.

Lincoln Electric Velion DCFC


Velion 50 kW mobile charger; via Lincoln Electric.

The company hasn’t announced pricing or battery energy capacity (in kWh) for the new Velion, but I’d guess it’s something higher than 15 kWh, but less than 20. If you guys have a better guess, I’d love to hear it!

SOURCE | IMAGES: Lincoln Electric.


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How CATL is changing EV battery tech in Europe [Video]

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How CATL is changing EV battery tech in Europe [Video]

Electric vehicles have come a long way, but let’s be real—they still have their hangups: “range anxiety,” long charging times, and questions about safety and sustainability. But what if all those worries could be put to rest?

At IAA Mobility in Munich, CATL, one of the world’s biggest battery makers, unveiled a new technology that could revolutionize EVs.

Shenxing Pro: Go Far, Last Long

CATL debuted two versions of its next-gen Shenxing Pro battery. One is all about distance and durability. Picture this: a single charge gets you up to 758 km (or about 470 miles). That’s enough to drive from Houston to Memphis without a single stop. And it’s not just about the distance; this thing is built to last. It promises a lifespan of 12 years or 1,000,000 km, with only around 9% degradation after 200,000 km. That’s a huge leap from today’s EV batteries, which often lose up to 30% of their capacity over the same period.

Fast Charging, Even When It’s Freezing

Tired of waiting around for your car to charge? The second version of the Shenxing Pro is for you. It’s the Super Fast Charging model, designed to get you back on the road in minutes. CATL says it can add a whopping 478 km of range in just 10 minutes under perfect conditions. And here’s the best part: it holds its own in the cold. We all know how much cold weather messes with most EV batteries, but the Shenxing Pro still delivers up to 410 km of range in just 20 minutes at a chilling -20°C. That’s better than many EVs perform in normal temperatures!

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No Propagation 3.0: Safety First

Safety is a top concern with EV batteries, especially the risk of thermal runaway—that’s when one cell overheats and triggers a dangerous chain reaction. CATL’s new No Propagation 3.0 platform is engineered to stop that domino effect cold. It uses special fireproof coatings and a cell structure that quickly cools down and relieves pressure. In the rare event of a problem, the battery can still provide stable power for over an hour. That extra time is a lifeline, giving drivers the chance to get to safety and ensuring critical systems like advanced driver-assistance features stay online when you need them most.

Getting Greener, At Scale

CATL is also tackling the sustainability issue head-on. Through a new initiative called the Global Energy Circular Commitment (GECC), they aim to cut the use of new raw materials by half over the next two decades. They’re already a leader in this space, operating the world’s largest battery recycling network. Since 2024, they’ve recycled over 130,000 tons of used batteries, recovering 99.6% of crucial metals like nickel, cobalt, and manganese.

The Whole Package

What’s so impressive about the Shenxing Pro isn’t just one feature—it’s everything working together. By improving range, charging speed, safety, and sustainability all at once, CATL isn’t just fixing a single problem; they’re taking on the biggest obstacles to widespread EV adoption. If these batteries live up to the hype, the next wave of EVs could be more efficient, more reliable, and a whole lot greener.

The bottom line? CATL’s latest battery tech in tandem with other commitments could prove to be the building blocks for the next wave of EVs in Europe and beyond.

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