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Business Wire
09-05-2025
- Automotive
- Business Wire
Polestar Sets the Date for Q1 2025 Select Results
BUSINESS WIRE)--Polestar (Nasdaq: PSNY) expects to publish Q1 2025 select financial results on 12 May 2025, before market open. Management will host a conference call at 14:00 Central European Time (08:00 US Eastern Time) the same day, accessible via the Polestar Investor Relations website. Polestar filed its annual report for 2024 on form 20-F with the U.S. Securities and Exchange Commission (SEC) on 9 May 2025. About Polestar Polestar (Nasdaq: PSNY) is the Swedish electric performance car brand with a focus on uncompromised design and innovation, and the ambition to accelerate the change towards a sustainable future. Headquartered in Gothenburg, Sweden, its cars are available in 27 markets globally across North America, Europe and Asia Pacific. Polestar has three models in its line-up: Polestar 2, Polestar 3, and Polestar 4. Planned models include the Polestar 5 four-door GT (to be introduced in 2025), the Polestar 6 roadster and the Polestar 7 compact SUV. With its vehicles currently manufactured on two continents, North America and Asia, Polestar plans to diversify its manufacturing footprint further, with production of Polestar 7 planned in Europe. Polestar has an unwavering commitment to sustainability and has set an ambitious roadmap to reach its climate targets: halve greenhouse gas emissions by 2030 per-vehicle-sold and become climate-neutral across its value chain by 2040. Polestar's comprehensive sustainability strategy covers the four areas of Climate, Transparency, Circularity, and Inclusion. Forward-looking statements Certain statements in this press release ('Press Release') may be considered 'forward-looking statements' as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or the future financial or operating performance of Polestar including the number of vehicle deliveries and gross margin. For example, projections of revenue, volumes, margins, cash flow break-even and other financial or operating metrics and statements regarding expectations of future needs for funding and plans related thereto are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as 'may', 'should', 'expect', 'intend', 'will', 'estimate', 'anticipate', 'believe', 'predict', 'potential', 'forecast', 'plan', 'seek', 'future', 'propose' or 'continue', or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Polestar and its management, as the case may be, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) Polestar's ability to enter into or maintain agreements or partnerships with its strategic partners, including Volvo Cars and Geely, original equipment manufacturers, vendors and technology providers; (2) Polestar's ability to maintain relationships with its existing suppliers, source new suppliers for its critical components and enter into longer term supply contracts and complete building out its supply chain; (3) Polestar's ability to raise additional funding; (4) Polestar's ability to successfully execute cost-cutting activities and strategic efficiency initiatives; (5) Polestar's estimates of expenses, profitability, gross margin, cash flow, and cash reserves; (6) the identification and remediation of accounting errors and/or a final assessment of errors already identified that differs significantly from Polestar's preliminary view of such errors and the successful filing of restatements of any SEC reports; (7) Polestar's ability to continue to meet stock exchange listing standards; (8) changes in domestic and foreign business, market, financial, political and legal conditions; (9) demand for Polestar's vehicles or car sale volumes, revenue and margin development based on pricing, variant and market mix, cost reduction efficiencies, logistics and growing aftersales; (10) delays in the expected timelines for the development, design, manufacture, launch and financing of Polestar's vehicles and Polestar's reliance on a limited number of vehicle models to generate revenues; (11) increases in costs, disruption of supply or shortage of materials, in particular for lithium-ion cells or semiconductors; (12) risks related to product recalls, regulatory fines and/or an unexpectedly high volume of warranty claims; (13) Polestar's reliance on its partners to manufacture vehicles at a high volume, some of which have limited experience in producing electric vehicles, and on the allocation of sufficient production capacity to Polestar by its partners in order for Polestar to be able to increase its vehicle production volumes; (14) the ability of Polestar to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (15) risks related to future market adoption of Polestar's offerings; (16) risks related to Polestar's current distribution model and the evolution of its distribution model in the future; (17) the effects of competition and the high barriers to entry in the automotive industry and the pace and depth of electric vehicle adoption generally on Polestar's future business; (18) changes in regulatory requirements (including environmental laws and regulations and regulations related to connected vehicles), governmental incentives, tariffs and fuel and energy prices; (19) Polestar's reliance on the development of vehicle charging networks to provide charging solutions for its vehicles and its strategic partners for servicing its vehicles and their integrated software; (20) Polestar's ability to establish its brand and capture additional market share, and the risks associated with negative press or reputational harm, including from electric vehicle fires; (21) the outcome of any potential litigation, including litigation involving Polestar and Gores Guggenheim, Inc., government and regulatory proceedings, tax audits, investigations and inquiries; (22) Polestar's ability to continuously and rapidly innovate, develop and market new products; (23) the impact of the ongoing conflict between Ukraine and Russia and in Israel, the Gaza Strip and the Red Sea; and (24) other risks and uncertainties set forth in the sections entitled 'Risk Factors' and 'Cautionary Note Regarding Forward-Looking Statements' in Polestar's Form 20-F, and other documents filed, or to be filed, with the SEC by Polestar. There may be additional risks that Polestar presently does not know or that Polestar currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Nothing in this Press Release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Polestar assumes no obligation to update these forward-looking statements, even if new information becomes available in the future, except as may be required by law.
South China Morning Post
14-04-2025
- Business
- South China Morning Post
Tariff flip-flops and why Trump's attack on China is misguided
As of Sunday evening US Eastern Time, when this piece was being drafted, US President Donald Trump suggested that he is indeed considering a new sectoral tariff regime on smartphones, computers and other electronics that our lives depend on. Advertisement This was the latest development, not long after US Customs and Border Protection uploaded a bulletin past 10pm on Friday night, notifying anyone who might have been refreshing the agency's site at that hour that those products would be exempt from Trump 'Liberation Day' tariffs. If you're heavily invested in Apple , you might have been ecstatic when you read the news about the exclusion and perhaps bought another whack of shares in the maker of mostly made-in-China iPhones. And if you did, you surely would have been miffed to learn that Apple's marquee product could still face some level of tariff that may – or may not – be unveiled this week. Keep in mind that all of this happened after investors started dumping US Treasury bonds at a time when these instruments should have been seen as a safe haven; it was during that melee that Trump announced his 90-day pause on the Liberation Day tariffs. Each of these twists and turns has been chalked up to the supposedly ruthless attempts by America's friends and foes alike, during many US administrations, to exploit the country. Advertisement However, what Trump leaves out is that these decades of alleged scheming by America's trade partners have clearly failed, considering how much others have envied the US' economy and technological innovation. The United States' economic dominance has been in place for so many decades that many people alive today have only known such a reality. Washington has dictated the rules for just as long, enforcing them with the power of its currency.
Gulf News
10-03-2025
- Business
- Gulf News
Moon rush: Why private companies race for lunar dominance
Moon exploration by private companies is escalating. Here's why: A company that establishes infrastructure first could dominate a looming lunar economy. The race is pushing advancements in space travel, robotics, AI, and sustainable off-world living. Private lunar explorations What happened recently shows growing trend and marks a significant step forward in commercial lunar missions. Early on Sunday (March 2), Firefly Aerospace successfully landed its Blue Ghost Mission 1 spacecraft upright on the Moon, thus making it the first privately built lander to accomplish such a feat. Firefly's success has set a new, higher tempo towards this goal. It also demonstrates the increasing role of private industry in deep-space exploration. The lander touched down at 3:34 am US Eastern Time (0834 GMT) near Mons Latreille, a volcanic feature in the Moon's Mare Crisium region. This milestone underscores the growing capabilities of private space companies working in partnership with Nasa. Why this achievement matters While Intuitive Machines became the first private company to land a spacecraft on the Moon in February 2024, its Odysseus lander tipped over on impact, limiting its functionality. Blue Ghost's successful upright landing is a crucial technological leap, ensuring better stability for scientific operations and long-term sustainability of private lunar missions. 'Y'all stuck the landing, we're on the Moon,' an engineer at Firefly's mission control in Austin, Texas, exclaimed, as cheers erupted among the team. CEO Jason Kim later confirmed the lander was 'stable and upright.' Nicky Fox, associate administrator for NASA's Science Mission Directorate, celebrated the moment, saying, 'We're on the Moon!' Autonomous precision landing A critical aspect of the mission was Blue Ghost's ability to autonomously navigate the Moon's rugged terrain, slowing from thousands of miles per hour to just two mph before touchdown. The first image from the lander revealed a rocky, cratered landscape, highlighting the complexity of selecting a safe landing site in real time. The lander was launched on January 15 aboard a SpaceX Falcon 9 rocket and traveled 2.8 million miles to reach its destination. The mission is part of NASA's Commercial Lunar Payload Services (CLPS) program, which aims to leverage private industry for cost-effective lunar exploration and to support the Artemis program's long-term goal of returning astronauts to the Moon. Cutting-edge science, future exploration Blue Ghost is equipped with ten scientific instruments, including a lunar soil analyser, a radiation-tolerant computer, and an experiment testing the feasibility of using global satellite navigation systems on the Moon. The lander is designed to operate for 14 Earth days, a full lunar day, and is expected to capture high-definition images of the total solar eclipse on March 14, when Earth's shadow will darken the Moon's surface. Another key experiment will take place on March 16, when the lander will document a lunar sunset and study how dust levitates under solar radiation — an effect first observed by Apollo astronaut Eugene Cernan. Texas-based Intuitive Machines is set to follow up with its second lunar mission, IM-2 (launched on March 6, 2025). Its Athena lander will attempt to land near Mons Mouton, the southernmost lunar landing site ever targeted. This mission will feature a drill designed to search for ice deposits and a novel hopping drone meant to explore difficult lunar terrain. NASA's broader vision involves routine lunar exploration through the $2.6 billion CLPS initiative, which has already funded multiple private lunar missions. This approach aims to reduce costs and accelerate innovation by allowing companies to develop and deploy lunar landers and rovers for scientific and commercial purposes. Future of lunar exploration The success of Blue Ghost comes at a pivotal time for NASA, as the agency faces potential shifts in its exploration priorities. There's speculation that the Artemis programme might be scaled back in favour of Mars exploration. This effort is strongly advocated by both President Donald Trump and SpaceX founder Elon Musk. Implication: proving the viability of commercial lunar missions has never been more critical. By demonstrating the ability to land upright and function effectively, Firefly has reinforced the growing role of private industry in space exploration, bringing humanity one step closer to sustained lunar presence and, ultimately, deep-space exploration. 5 reasons behind private Moon explorations Here's why private companies are racing for lunar dominance: #1. Economic opportunities Mining and resources : The Moon is believed to contain valuable resources like helium-3 (potential for nuclear fusion), rare earth elements, and water ice (which can be converted into fuel). Space tourism : Billionaires and private space travellers are driving demand for lunar tourism. Lunar infrastructure and services: Companies are developing lunar habitats, communications, and transportation systems to support long-term missions. #2. Strategic and tech leadership First-mover advantage : The companies that establish infrastructure first could dominate the lunar economy. Tech development : The race is pushing advancements in space travel, robotics, AI, and sustainable off-world living. Influence in space policy: Leading the lunar economy allows companies to shape future space laws and regulations. #3. Government partnerships & incentives NASA & international contracts : Space agencies are funding private companies for lunar exploration under programs like Artemis. Military & national security interests: The Moon could be a strategic outpost for defense and communication. #4. Gateway to Mars and beyond Testing ground : The Moon provides a perfect environment to test technology and human endurance before attempting missions to Mars. Lunar gateway: NASA and private firms plan to use the Moon as a launch point for deeper space missions. #5. Prestige and brand power Publicity and investment : Companies like SpaceX, Blue Origin, and Astrobotic gain massive public and investor interest from lunar missions. National pride and corporate identity: Being the first to establish a lunar base or commercial operation boosts global prestige. Sign up for the Daily Briefing Get the latest news and updates straight to your inbox
Jordan Times
04-03-2025
- Science
- Jordan Times
Private US spaceship lands on Moon
Intuitive Machines' Athena lander on top of a SpaceX Falcon 9 rocket, lifts off from Launch Complex 39A at NASA's Kennedy Space Centre, Florida, February 26 (AFP photo) WASHINGTON — A US company successfully landed its spacecraft on the Moon on Sunday after a long journey through space, marking only the second private mission to achieve the milestone -- and the first to do so upright. Firefly Aerospace's Blue Ghost Mission 1 touched down shortly after 3:34 am US Eastern Time (8:34 GMT) near Mons Latreille, a volcanic formation in Mare Crisium on the Moon's northeastern near side. "Y'all stuck the landing, we're on the Moon," an engineer at mission control in Austin, Texas, called out as the team erupted in cheers. A first image is expected soon. CEO Jason Kim later confirmed that the spacecraft was "stable and upright" -- in contrast to the first private landing last February, which came down sideways. "We're on the Moon!" Nicky Fox, associate administrator for NASA's Science Mission Directorate, rejoiced. Nicknamed "Ghost Riders in the Sky", the mission is part of a NASA-industry partnership aimed at reducing costs and supporting Artemis, the programme designed to return astronauts to the Moon. The golden lander, about the size of a hippopotamus, launched on January 15 on a SpaceX Falcon 9 rocket, capturing stunning footage of Earth and the Moon along the way. It shared a ride with a Japanese company's lander set to attempt a landing in May. Blue Ghost carries 10 instruments, including a lunar soil analyzer, a radiation-tolerant computer and an experiment testing the feasibility of using the existing global satellite navigation system to navigate the Moon. Designed to operate for a full lunar day (14 Earth days), Blue Ghost is expected to capture high-definition imagery of a total eclipse on March 14, when Earth blocks the Sun from the Moon's horizon. On March 16, it will record a lunar sunset, offering insights into how dust levitates above the surface under solar influence -- creating the mysterious lunar horizon glow first documented by Apollo astronaut Eugene Cernan. Hopping drone Blue Ghost's arrival will be followed on March 6 by fellow Texas company Intuitive Machines' IM-2 mission, featuring its lander Athena. In February 2024, Intuitive Machines became the first private company to achieve a soft lunar landing -- also the first US landing since the crewed Apollo 17 mission of 1972. However, the success was tempered by a mishap: the lander came down too fast and tipped over on impact, leaving it unable to generate enough solar power and cutting the mission short. This time, the company says it has made key improvements to the hexagonal-shaped lander, which has a taller, slimmer profile than Blue Ghost, and is around the height of an adult giraffe. Athena launched on Wednesday aboard a SpaceX rocket, taking a more direct route toward Mons Mouton -- the southernmost lunar landing site ever attempted. Its payloads include three rovers, a drill to search for ice and the star of the show: a first-of-its-kind hopping drone designed to explore the Moon's rugged terrain. NASA's private Moon fleet Landing on the Moon presents unique challenges due to the absence of an atmosphere, making parachutes ineffective. Instead, spacecraft must rely on precisely controlled thruster burns to slow their descent. Until Intuitive Machines' first successful mission, only five national space agencies had accomplished this feat: the Soviet Union, the United States, China, India and Japan, in that order. Now, the United States is working to make private lunar missions routine through NASA's $2.6 billion Commercial Lunar Payload Services (CLPS) program. The missions come at a delicate moment for NASA, amid speculation that it may scale back or even cancel its Artemis lunar program in favor of prioritizing Mars exploration -- a key goal of both President Donald Trump and his close adviser, SpaceX founder Elon Musk. Page 2
Daily Tribune
03-03-2025
- Science
- Daily Tribune
Private US spaceship lands on Moon: mission control
A US company successfully landed its spacecraft on the Moon on Sunday, marking only the second private mission to achieve the milestone -- and the first to do so upright. Firefly Aerospace's Blue Ghost Mission 1 touched down at 3:34 am US Eastern Time (0834 GMT) near Mons Latreille, a volcanic formation in Mare Crisium on the Moon's northeastern near side. The mission control team in Austin, Texas, erupted in cheers as CEO Jason Kim confirmed that the spacecraft was 'stable and upright.' That stood in stark contrast to the first private lunar landing last February, which toppled over upon arrival, dulling the achievement of being the first US Moon touchdown since the crewed Apollo 17 mission of 1972. 'We're on the Moon!' exclaimed Nicky Fox, associate administrator for NASA's Science Mission Directorate.
