Polestar expects profits in 2025 with 5 GT launch, confirms Polestar 7 will be an entry level compact SUV
Swedish and Chinese EV automaker Polestar has shared an updated business strategy, looking to 2025 and beyond as its next chapter in growth. Per the release detailed below, Polestar is expecting increased sales volume, especially as its long-promised Polestar 5 GT is set to launch this year. Additionally, the automaker confirmed its Polestar 7 model will be a compact SUV and its most affordable BEV to date.
Polestar remains a growing name in the EV segment, and more and more people are becoming aware of the Geely-owned brand as it brings more models to market. Its two most recent were the Polestar 3 SUV and 4 crossover, built in the US and China, respectively. According to Polestar, those two models have gained “strong product momentum,” accounting for 56% of orders in Q4 2024.
Polestar looks to ride that wave into 2025 and add to its impetus with the launch of the Polestar 5, a sports sedan based on the automaker’s Precept concept EV that is targeting up to 884 hp and will attempt to compete against some of the big boys, like the Tesla Model S and Porsche Taycan.
While it won’t be part of Polestar’s 2025 launches, the automaker’s executives have divulged some new details about a new model called the Polestar 7, which was teased back in April 2024.
Polestar 7 to replace the 2 as its entry-level model
According to a release published on its investor page, Polestar expects a fruitful 2025 that will set the town for its revamped business strategy through at least 2027. Per the automaker, it is targeting compound annual retail sales volume growth of 30-35% over the next three years and positive adjusted EBITDA in 2025. Furthermore, Polestar executives expect positive free cash flow after investments in 2027. Polestar CEO Michael Lohscheller elaborated:
With Scandinavian design, performance and a premium brand, Polestar has successfully positioned itself in the global automotive market. We have three outstanding cars on the road and a growing, passionate customer base.We are building on the strong Polestar brand with design and performance at its core.
But significant changes are needed to make this well-respected progressive brand a successful and viable business. We are speeding up our retail expansion and commercial transformation, whilst adjusting our future model line-up and significantly reducing our cost base. Both in terms of volumes and financials, we expect 2025 to be the strongest year in Polestar’s history.
Part of Polestar’s success in 2025 will depend on the start of sales of the Polestar 5, the automaker’s first model to sit atop an 800V platform. According to the company, that launch is expected in the second half of this year. Until then, Polestar will continue to push sales of its current lineup, which consists of the Polestar 2, 3, and 4.
While the Polestar 2 will be remembered as the BEV that put the brand on the map, its days are unfortunately numbered. Previous Polestar CEO Thomas Ingenlath said the company intends to phase out the 2 sedans around 2027, and its successor will be a new model called the Polestar 7.
We hadn’t heard much about the Polestar 7 since then, but the company confirmed today that it will arrive as a premium compact SUV. Additionally, we’ve learned the Polestar 7 will be the brand’s first model built in Europe. With production footprints in China, South Korea, and the US, Europe is a natural next step in expansion, especially for an affordable, compact SUV the Polestar 7 promises to be, because that is such a popular segment in the EU.
The Polestar 7 will also represent a new design strategy for the automaker. From that launch onward, it will “gradually move from a multi-platform approach to one single architecture, reducing complexity, costs, and investments.”
While we’ve learned what style of BEV the Polestar 7 will be, we don’t know much else at this point. With the expectation that we won’t see anything come to market until 2027 at the earliest, our immediate focus will remain on the upcoming launch of the Polestar 5 in 2025, followed by the Polestar 6 roadster convertible in 2026.
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Chinese carmaker XPeng is getting perilously close to bringing its AeroHT consumer eVTOL concept to market, thanks to a $250 million Series B round that’s set to accelerate the company’s modular “flying car” production plans.
XPeng subsidiary AeroHT had its first successful proof of concept test flight ahead of the brand’s annual 1024 back in 2023, where the company unveiled a pair of flying car designs. The X3 is an actual flying “car” that can drive, park, and take off on its own, and a second, modular eVTOL that folds up into the back of an electric van called the Land Aircraft Carrier.
That vehicle pair, shown at CES in January, was set to begin production this year, with the eVTOL component set to begin production in 2026 – and that’s looking a lot more likely thanks to the new infusion of capital!
AeroHT at CES 2025
Xpeng Aeroht raised $150 million in Series B1 funding last August, before launching its Series B2 funding round. The most recent announcement that the company has secured an additional $100 million in its Series B2 funding round brings the total amount raised to more than $750 million, with a $1B pre-revenue valuation.
CNEVPost reports that company aims to establish itself as a commercial pioneer in urban air mobility ahead of a potential IPO – and may get there sooner than later, thanks to several hundred pre-orders at the $280,000 projected price.
Electrek’s Take
Scooter Doll said it best, writing, “this footage (of the AeroHT test flight) is as scary and concerning as it is exciting and awe-inspiring.” Which is to say that these things are real, they seem like they’re getting built, and they seem like they’ll sell well enough to convince at least one or two remaining boomers that the flying car they’ve been promised their whole lives is – finally! – coming to market.
Here’s hoping.
SOURCE: Xpeng, via CNEVPost; gallery photos by the author.
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Flooring manufacturer Beauflor USA just turned on the biggest rooftop solar system by capacity in metro Atlanta — and it’s now powering part of its Georgia factory.
The new 1,040 kW system in Cartersville officially beats metro Atlanta’s previous rooftop solar record of 1,034 kW. The new array produces enough energy to power more than 100 homes. The system is expected to cover about 10% of Beauflor’s electricity needs and cut its carbon emissions by about 920 metric tons annually.
“This solar installation represents our commitment to sustainable manufacturing practices while making sound business decisions,” said Emile Coopman, continuous improvement manager at Beauflor. He added that the system is designed with room to grow: “This is the first step toward more renewable energy.”
The company partnered with Cherry Street Energy to install the nearly 2,000-panel system, which was completed in less than four months. Cherry Street invested $1.8 million into the project and is covering all construction and maintenance costs through a 30-year energy procurement agreement. Beauflor will buy solar power directly from Cherry Street, allowing it to avoid upfront capital costs while still lowering its energy bills.
“As Georgia’s manufacturers ramp up production amid rising costs for grid energy, sophisticated operators seek ways to quickly and sustainably address their energy needs,” said Cherry Street CEO Michael Chanin. “On-site solar with no capital expense delivers just that: reliable, affordable electricity.”
Chanin added that the system’s power output is especially impressive: “The previous record-holder for metro Atlanta’s largest rooftop solar required over 4,000 panels. We’re using less than 2,000 to reliably generate even more power.”
Read more: This is New Jersey’s largest high-rise residential rooftop solar array
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Jack Dorsey, co-founder and chief executive officer of Twitter Inc. and Square Inc., listens during the Bitcoin 2021 conference in Miami, Florida, on Friday, June 4, 2021.
Eva Marie Uzcategui | Bloomberg | Getty Images
Block shares jumped more than 10% in extended trading on Friday, as the fintech company gets set to join the S&P 500, replacing Hess.
It’s the second change to the benchmark this week, after S&P Global announced on Monday that ad-tech firm The Trade Desk would be added to the S&P 500. Trade Desk is taking the place of software maker Ansys, which was acquired by Synopsys in a deal that closed Thursday.
Hess’ departure comes just after Chevron completed its $54 billion purchase of the oil producer, prevailing against Exxon Mobil in a legal dispute over offshore oil assets in the South American nation of Guyana.
Block will officially join the S&P 500 before the opening of trading on July 23, according to a statement from S&P. Stocks often rally when they’re added to a major index, as fund managers need to rebalance their portfolios to reflect the changes.
Most alterations to the S&P 500 take place during the index’s quarterly rebalancing. However, in the case of the closing of an acquisition, a company can be removed from the index and replaced off schedule. Last week monitoring software company Datadog took Juniper Networks’ place in the S&P 500 as part of the index’s quarterly change.
Block’s addition brings further tech heft to an index that’s been steadily moving in that direction in recent years, reflecting the market cap gains of companies across the sector. Block, which gained popularity as Square due to the rapid growth of the company’s payment terminals, has expanded into crypto, lending and other financial services.
Founded by Jack Dorsey in 2009, Square changed its name to Block in 2021 to emphasize its focus on blockchain technologies.
Block shares are down 14% this year, underperforming the broader U.S. market. The Nasdaq is up more than 8%, while the S&P 500 has gained 7%. Still, with a market cap of about $45 billion, Block is valued well above the median company in the index.
In May, Block reported first-quarter results that missed Wall Street expectations on Thursday and issued a disappointing outlook, leading to a plunge in the stock price. Block’s forecast for the second quarter and full year reflected challenging economic conditions that followed sweeping tariff announcements by President Donald Trump.
“We recognize we are operating in a more dynamic macro environment, so we have reflected a more cautious stance on the macro outlook into our guidance for the rest of the year,” the company wrote in its quarterly report.
The company is scheduled to report second-quarter results after the close of regular trading on Aug. 7.
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