Swedish EV maker Polestar (PSNY) said it expects to hit the lower end of its 2023 delivery target on Wednesday. Despite the lower expectations, Polestar says new EV launches will drive up demand. Its first electric SUV coupe, the Polestar 4, begins production next week.
Polestar lowers 2023 delivery goal
Polestar delivered 13,976 vehicles in the third quarter, up 51% year-over-year. However, the number is down from 15,800 in the second quarter.
The YOY growth comes amid the Polestar 2 rollout, including the recently launched upgraded 2024 model.
Polestar expects the higher-priced model to help improve models going into the end of the year. Although higher deliveries pushed revenue up to $367.7 million (+25%) in Q3, increased costs led to gross profits slipping 63% to $36.3 million.
Higher expenses in the quarter led to an operating loss of $261 million, up 33% compared to last year. Meanwhile, gross profits fell to 3.6% from 4.1% last year.
Polestar expects to hit the lower end of its 2023 delivery target with around 60,000 vehicles. The EV maker had already slashed its target in May from 80,000 to between 60,000-70,000.
2024 Polestar 2 (Source: Polestar)
Due to the lower delivery expectations, Polestar says gross margins will be around 2% for the year, down from 4%.
The company said it was cutting costs to improve efficiency. Polestar had $951.1 million in cash at the end of September. However, it secured another $450 million in loans from its top two investors, Volvo and Geely.
New EV models to accelerate demand
Despite the lower near-term expectations, Polestar expects the launch of new electric models to drive up demand.
The company’s first electric SUV coupe, the Polestar 4, will begin production next week. Polestar will start delivering the new EV to customers next month.
Meanwhile, the Polestar 3 electric SUV is “on track” to begin production in China in early 2024 and over the summer in the US. The company said its electric SUV recently completed hot weather testing in the UAE.
The Polestar 3 is “better positioned” for the US market, according to CEO Thomas Ingenlath. Polestar’s electric SUV (launch edition) will start at $83,900 in the US with up to 300 miles range.
Polestar 3 (Source: Polestar)
Powered by the same platform as the new Volvo EX90, the Polestar 3 will be available in two trims – a long-range dual motor and a performance pack version. Both will use a 400V battery with 111 kWh capacity.
Polestar will continue developing the brand, focusing on increasing volume and profitability. With four models expected (including the Polestar 5), the EV maker aims to deliver around 155,000-165,000 vehicles.
By mid-decade, Polestar expects gross profit margins in the high teens. The company says an improved offering of vehicles and additional measures will help boost profitability.
Polestar also teased a new plant on the company’s earnings call that would not be in China but didn’t specify where.
Electrek’s Take
With one fully electric vehicle currently, Polestar expects to hit the lower end of its delivery target this year.
Meanwhile, the EV maker expects new launches, including the Polestar 3 and 4, to increase demand. So is it an EV demand problem, or is it that Polestar doesn’t have models in the right segments yet?
Polestar said it will continue a “targetted approach” with EV models like the Polestar 3 aligning with the US market.
Other EV makers have reported mixed results. Although Lucid also lowered its target, Rivian raised it for the second time this year. Again, is it the market, or is it the models?
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Get up to $2,300 in early-bird savings on Jackery’s new HomePower 3600 Plus LiFePO4 power station starting from $1,699
Jackery has just launched its early-bird member-only discounts (free to sign up) on its new HomePower 3600 Plus Portable Power Station starting from $1,699 shipped that will run through September 21, along with some bundle options, as well (more on those below). This new unit follows right behind the recent launch of the HomePower 3000 station, carrying a slightly higher full price of $2,799, and also coming in $100 higher at Amazon. This is the first chance at savings ahead of the new backup solution officially releasing, with it getting $1,100 here that sets the bar for future discounts down the road.
It’s quite a surprise to see Jackery releasing this new HomePower 3600 Plus unit not long after its HomePower 3000 model’s release, though it makes sense as this new descendant fills the gap between the 3000 and the brand’s Explorer 5000 Plus home backup unit. It starts with a 3,584Wh LiFePO4 battery capacity that can expand as high as 21kWh with additional equipment. It provides up to 3,600W of steady output and surges up to 7,200W for hungrier devices/appliances, complete with 10 port options that include five AC outlets, two USB-C ports, two USB-A ports, and a car port.
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As the Jackery HomePower 3600 Plus is a bolstered descendant to the HomePower 3000, it shouldn’t come as any surprise that it brings much of the same charging capabilities to the table, with plugging into a standard outlet having it back to a full battery in 2.5 hours, while also offering options for dual AC and DC charging, gas generator bypass charging, a maximum 1,000W solar input, and a car port to charge as you drive.
Jackery’s early-bird HomePower 3600 Plus member deals:
HomePower 3600 Plus (7,168Wh) with extra battery and 500W panel: $3,699 (Reg. $5,899)
Jackery’s Amazon-only HomePower 3600 Plus deals:
You can now save $3,195 on EcoFlow’s expanded DELTA Pro Ultra 12.2kWh bundle at a new $5,604 low
Over at Wellbots, we just spotted an amazing opportunity for anyone wanting to go big with their home backup support, with EcoFlow’s DELTA Pro Ultra Power Station bundled with one expansion battery at $5,604.05 shipped, which appears after an automatic 5% discount is applied in your cart, and currently beats Amazon’s pricing by $894. While it carries a $9,397 MSRP directly from the brand (currently $6798), at Wellbots, however, it starts off at a lower $8,799 full price. The discounts we’ve seen up until today have only ever dropped costs on this package as low as $6,299, which we last saw during July’s Prime Day event. The deal here gives you more savings than ever as $3,195 is cut from the tag (not to mention it’s $3,793 off its MSRP), landing it at a new all-time low price.
Anker’s SOLIX Fan Fest weekend flash sale drops new F3000 power station back to $1,599 Prime Day low
As part of its ongoing SOLIX Fan Fest Sale running through September 21, Anker has launched a weekend flash sale that is bringing the costs down on four different units. Among them, we spotted Anker’s new SOLIX F3000 Portable Power Station with a FREE 120V generator input adapter dropping down to $1,599 shipped, which beats out Amazon’s pricing by $51, and sadly, the extra 5% savings code isn’t valid for these deals. It was already brought down from its $2,599 full price to $1,649 in the sale, with the flash savings here returning it to this rate for the first time since it appeared during July’s Prime Day event. You’re looking at the second-ever chance to pick it up at the best price we have tracked – plus, you’re getting the free adapter cable that is valued at $99 normally, which only sweetens the pot.
Save an exclusive $120 on Anker’s solar-powered EufyCam S3 Pro 4K 2-camera kit at second-best $430
We’ve secured an exclusive deal from Wellbots on the Anker EufyCam S3 Pro Solar-Powered 4K 2-Camera Kit with HomeBase 3 for $429.99 shipped, after using the exclusive code 9TO5EUFY120 at checkout. Normally going for $550 at full price, this newer security alternative has mostly seen drops to $440 throughout 2025, with a one-time fall to the $380 low back during July’s Prime Day. The deal here is giving you a 22% markdown that cuts $120 off the going rate for the second-lowest rate we have tracked and the best current price we can find.
Hiboy’s Fall Sale takes up to 50% off EVs, like the new and improved EX6F Folding e-bike at $980
Hiboy has launched its Fall Sale that is taking up to 50% off its lineup of e-bikes and e-scooters, with three tiers of extra savings at certain price thresholds. Among the lineup, we spotted the brand’s new EX6F Low-Step Foldable e-bike at $979.98 shipped, after using the code FALL20 at checkout, which beats out Amazon’s current pricing by $170. This model hit the market mid-June with a $1,580 price tag, which has mostly kept down at $1000 in sales since, save for the original launch deal that saw it drop to $950. The deal we’re seeing during this sale is a combined 38% markdown that cuts $600 off the tag for the second-lowest price we have tracked.
Worx’s Nitro 80V cordless backpack leaf blower kit produces up to 800 CFM clearing power for $400
Amazon is offering the Worx Nitro 80V 800 CFM Cordless Backpack Leaf Blower for $399.99 shipped. It normally fetches $500 at full price, with the discounts we’ve seen through the year having regularly returned costs to this same rate. While we did see it fall within a range of $362 to $349, that was a one-time occurrence that we haven’t seen again since late April, with you otherwise getting the next-best pricing here. You’ll save $100 off the going rate for the best price we can currently find, all while upgrading your arsenal from more standard hand-carry models.
The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.
Toyota was hit with a major recall on Friday, impacting around 591,000 vehicles in the US. The company is recalling certain RAV4, Camry, Corolla, Grand Highlander, and several Lexus models. The situation gets worse with another recall leading to a stop-sale of Toyota, Lexus, and Subaru electric vehicles.
Toyota recalls 591,000 vehicles, halts EV sales in the US
On Friday, Toyota issued a voluntary recall with the National Highway Traffic Safety Administration (NHTSA) involving roughly 591,000 cars in the US.
The recall affects select Toyota Venza, Crown, Crown Signia, RAV4, GR Corolla, 4Runner, Camry, Grand Highlander, Tacoma, and Highlander models, as well as specific Lexus LS, RX, and TX vehicles.
Toyota said the recall is due to a glitch with the infotainment system. The 12.3″ display screen could fail to turn on after starting the vehicle, or even worse, go blank while driving. Toyota will begin notifying those with impacted vehicles by mid-November 2025.
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In a separate notice last week, Toyota issued another major recall, impacting nearly 95,000 electric vehicles. The recall involved certain 2023 to 2025 Toyota bZ4X, Lexus RZ, and Subaru Solterras.
2025 Toyota bZ4X Limited AWD Supersonic Red (Source: Toyota)
The bZ4X accounts for the majority of those being recalled, with nearly 41,500, followed by the Solterra at 32,320 and the Lexus RZ with 20,501.
Toyota instructed dealers to halt sales of bZ4X, Lexus RZ, and Subaru Solterra models produced up to mid-June. All of which are based on the same platform. According to the memo, the recall is due to a faulty defroster, which is pretty self-explanatory as to why it poses a safety risk.
2025 Subaru Solterra (Source: Subaru)
If your vehicle is included in the recall, you can take it to a dealer, where they will update the HVAC control ECU software, free of charge.
Toyota plans to mail notification letters to owners on October 20, 2025. You can contact Toyota’s customer service hotline at 1-800-331-4331. Toyota’s recall numbers are 25TB07 and 25TA07. Lexus’ numbers for this recall are 25LB04 and 25LA04. Subaru’s recall number is WRD-25.
You can also contact the NHTSA hotline at 1-888-327-4236 or visit the website NHTSA.gov for more information.
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VW is advising customers to be a little more patient with Tesla Supercharger access, as it claims to be experiencing technical issues.
The German brand is the last one to give Supercharger access to its North American EV owners.
Tesla first announced the opening of its Supercharger network to other electric vehicles in 2021, but the rollout has been slow.
The automaker successfully persuaded the rest of the North American auto industry to adopt its connector as the new standard. It struck deals with them to gain access to its Supercharger network, which is by far the best and most reliable fast-charging EV network in North America, thereby sweetening the deal.
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However, the transition wasn’t exactly smooth.
Last year, Elon Musk fired Tesla’s entire charging team, which had built the world’s best charging network, over a dispute with the team’s head. Tesla ended up having to rehire some of the staff, and other automakers admitted that this slowed down the Supercharger integration process.
Nonetheless, the integration started to be finalized this year, with electric vehicles from virtually all other automakers now having access to most Tesla Superchargers in North America.
However, there’s one big exception: VW electric vehicles, specifically the ID.4 and ID Buzz.
Last week, Porsche and Audi, which are both part of the Volkswagen Group, announced that their North American EV owners have now access to the Supercharger network.
This led people to believe that VW shouldn’t be too far behind.
VW has now commented on encountering “technical challenges” and has asked owners for their patience. The German automaker still believes that access should come by the end of the year (via PC Mag):
“Volkswagen looks forward to making it possible for ID. Buzz and ID.4 vehicle owners to gain access to the Tesla NACS Partner Superchargers. The timeline has been delayed by technical challenges, and we ask for customers’ patience. We still expect to deliver access this year.”
It’s unclear what those technical challenges are, but VW has been experiencing notorious software issues for years now.
More recently, the company decided to partner with Rivian for assistance with the software side.
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