Polestar (PSNY) just got a new CEO. Thomas Ingenlath is out, and Michael Lohscheller is taking the helm as the Swedish EV brand enters its next growth stage. With two new electric SUVs hitting the market, how will Polestar navigate the transition?
“I am very proud of what we’ve achieved together in the last seven years,” Ingenlath wrote Wednesday.
After turning its vision of becoming an electric premium brand with performance and design at its core, Polestar’s former leader declared, “The dream became reality.”
Meanwhile, Ingenlath is leaving the company at a critical point. Many automakers have slowed EV investments, citing “slower-than-expected” demand just as Polestar launches two new electric SUVs.
Polestar launched its first all-electric vehicle, the Polestar 2, in 2020. This year, two new EVs are joining the lineup.
The company delivered the first Polestar 4 models in Europe earlier this month, and North America and Australia will follow by the end of the year. Polestar’s new premium electric SUV coupe arrives in Europe less than two months after the Polestar 3.
Polestar 4 (Source: Polestar)
Both electric SUVs are expected to compete with top-selling premium models like the new Porsche Macan EV, Tesla Model Y, and BMW iX3.
“With three models, Polestar is positioning itself as the design-led premium luxury electric car brand in the global EV market,” Ingenlath said earlier this month.
Polestar replaced Ingenlath with Michael Lohscheller, former CEO of Stellantis-owned Opel, Vietnam EV startup VinFast (VFS), and Nikola (NKLA). The change is effective October 1, 2024.
Lohscheller said he’s honored to join the Swedish EV brand at a critical point in the company’s history.
Polestar 3 (Source: Polestar)
“Polestar has already established itself as one of the most desirable and innovative brands in the electric vehicle space, and I look forward to working with the talented team to build on this strong foundation and accelerate our development,” he wrote.
Winfried Vahland, Polestar’s incoming Chairman, explained, “Michael Lohscheller is the ideal leader to guide Polestar into its next chapter.”
Polestar 3 interior (Source: Polestar)
Vahland added that Polestar (and Volvo) owner Geely is still “deeply committed” to the EV maker’s success.
Like in Europe, the Polestar 4 will be available in Single and Dual Motor setups in the US. It will start at $56,300 with up to 300 miles range.
Polestar 3 and 4 electric SUV by trim in the US
Starting Price
Range (expected EPA-est)
Polestar 4 Long Range Single Motor
$56,300
300 miles
Polestar 4 Long Range Dual Motor
$64,300
270 miles
Polestar 4 Long Range Dual Motor model (with Plus and Performance packs)
$74,300
270 miles
Polestar 3 Long Range Dual Motor with Pilot Pack
$74,800
315 miles
Polestar 3 Long Range Dual Motor with Pilot Pack and Plus Pack
$80,300
315 miles
Polestar 3 Long Range Dual Motor with Pilot and Performance Pack
$80,800
279 miles
Polestar 3 Long Range Dual Motor with Pilot, Plus, and Performance Pack
$86,300
279 miles
Polestar 3 and 4 prices and range by trim for the US (*including $1,400 destination fee)
After building its first Polestar 3 model in South Carolina earlier this month, the EV maker expects to expand in key auto markets like the US, Europe, and South Korea. The Polestar 3 starts at $73,400 in the US with up to 315 miles range.
Polestar (PSNY) stock over the past 12 months (Source: TradingView)
Polestar’s stock is down over 14% following the news on Wednesday. Polestar share prices are now down over 55% in 2024 and 74% over the past year.
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BYD’s cheapest EV in China just got even more affordable. After cutting prices this month, the BYD Seagull EV starts at just 56,800 yuan, or under $8,000.
BYD cuts Seagull EV price to under $8,000 in April
Despite an intensifying EV price war in China, BYD is cutting prices once again. The Chinese EV giant announced a new promotion this month across several Ocean Series models, including the Seagull.
The 2025 BYD Seagull EV is available starting at just 56,800 yuan ($7,800). The offer is for the non-Smart Driving Vitality Edition model, which usually starts at 69,800 yuan ($9,500).
After launching the new Seagull last year, BYD said the low-cost electric car officially opened “a new era of electricity being lower than oil.” Earlier this year, it upgraded most of its vehicles, including the Seagull, with its new “God’s Eye” smart driving system at no extra charge.
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BYD’s Seagull is offered in three trims in China: Vitality, Freedom, and Flying. It has two battery options, 30.1 kWh or 38.9 kWh, which is good for the 305 km (190 mi) and 405 km (252 mi) CLTC range, respectively.
BYD cuts vehicle prices in April 2025, including the Seagull EV (Source: BYD)
At just 3,780 mm long, 1,715 mm wide, and 1,540 mm tall, the Seagull is even smaller than the former Chevy Bolt EV (4,145 mm long, 1,765 mm wide, and 1,611 mm tall). It’s about the size of a Fiat 500e.
BYD Seagull EV (Dolphin Mini) testing in Brazil (Source: BYD)
The price cut comes as BYD’s sales continue surging. With another 377,420 new energy vehicles (EVs and PHEVs) sold last month, the Chinese automaker has now sold over one million NEVs in 2025.
BYD’s EVs accounted for 416,388 while PHEV sales reached 569,710, an increase of 39% and 76% from last year, respectively.
Perhaps even more importantly, BYD sold over 206,000 vehicles overseas in 2025, more than doubling from last year. The Seagull EV is also sold in other global markets like Mexico and Brazil as the Dolphin Mini.
Later this year, it will launch in Europe as the Dolphin Surf, with expected prices starting under £20,000 ($26,000). Although it may not be the cheapest EV, BYD’s executive vice president, Stella Li, recently told Autocar it will be “the best value” when it arrives.
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Prior to the launch, only a fully loaded $60,000 Launch Edition Model Y was available to order since January, and had been delivered since early March.
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Now, North American buyers are able to buy a much cheaper version of the new Model Y for $49,000.
Only the Model Y Long Range AWD is available for now, but that’s Tesla’s most popular model in North America.
At the time, we noted that this is a great demand test for Tesla in the US amid some critical brand issues due to CEO Elon Musk.
We only have a few metrics to track the demand of the new Model Y in the US:
Delivery timelines on new orders
Available inventory
Discounts/incentives
For most US zip codes tested by Electrek with different Model Y configurations (wheels and paint colors), Tesla quotes delivery within “1-3 weeks”.
But we also found several zip codes on both the West Coast and the East Coast where Tesla claims it can deliver the new vehicle “today”:
This would point to Tesla already having vehicles in inventory despite launching it just 4 days ago.
But Tesla is hiding the inventory.
If you search for Model Y in Tesla’s new inventory, you can’t find any in the US at the time of writing:
However, Tesla is showing some units in inventory to people configuring new Model Ys.
Some potential buyers are reporting that Tesla has a tab that pops up and directs them to some new inventory available (via TroyTeslike on Patreon):
This confirms that Tesla already has new non-Launch Edition Model Y in inventory available for sale in the US – pointing to Tesla having no backlog of demand for the new vehicle.
Electrek’s Take
This is much worse than I thought. I thought that Tesla would build a backlog of demand for the new Model Y in the US from people who didn’t want the fully loaded version, but it looks like that backlog lasted 4 days.
Of course, it’s all because of Tesla and Elon, and brand destruction.
Many people who invested in the stock market lost a lot of money over the last few weeks, and these people often happen to be people who buy new cars.
Now, the only thing left is for Tesla to start offering discounts and subsidies financing – the latter likely coming first, as it is already the case with new Model 3 orders in the US.
The good news for Tesla is that if Trump continues to crash the stock market, the Fed will likely have to reduce rates, making Tesla’s 0% financing cheaper to subsidize.
That’s a fun balancing act.
Either way, I wouldn’t be surprised to see Tesla offer incentives on the new Model Y in the US within the next 2 weeks – way ahead of schedule.
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The new and improved 2026 Kia EV9 and 2025 EV6 are eligible for the $7,500 federal EV tax credit, but one trim is excluded.
Do the Kia EV6 and EV9 qualify for the federal tax credit?
Kia’s first dedicated electric vehicle, the EV6, received some pretty major upgrades for its mid-cycle update this year.
The 2025 EV6 features a bigger battery providing more range (now up to 319 miles), a stylish interior and exterior redesign, and an NACS port for charging at Tesla Superchargers.
Kia’s first three-row electric SUV, the EV9, also has a native NACS charging port and will be the first model year to offer a high-performance GT trim.
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We got a good look at the EV9 GT at the LA Auto Show last year (check it out here). The sporty electric SUV boasts 501 hp, which is quite a bit more than the current GT-Line’s 379 hp. The added power is enough for the big-body SUV to move from 0 to 60 mph in just 4.3 seconds.
Although Kia America’s vice president of sales, Eric Watson, confirmed the EV6 and EV9 are now in “full-scale production” at its plant in West Point, Georgia, not all trims will qualify for the $7,500 federal tax credit.
According to CarsDirect, Kia told dealers that the 2025 EV6 and 2026 EV9 GT trims wouldn’t be eligible for the credit. A spokesperson said the exclusion is because Kia builds the EV6 GT and EV9 GT in South Korea, while all other trims are assembled in Georgia.
If Trump’s 25% tariff on South Korea is still in effect when the GT models launch in the US, it could create a significant price gap between trims.
Despite this, you will likely still be able to take advantage of the credit through leasing. Kia, like many, is passing the $7,500 on through lease cash, which can significantly cut monthly payments.
Kia will reveal more info, including prices, closer to launch. Check back soon. We’ll keep you updated with the latest.
With the new models arriving soon, Kia is offering clearance pricing on outgoing models. Monthly leases start as low as $179. You can use our links below to find deals on the Kia EV6 and EV9 near you.
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