Tesla rival Polestar closes R&D sites in the UK and lays off 130 staff

Polestar, the electric vehicle company, is centralizing its R&D operations in Sweden, closing UK sites and laying off 130 staff. This move comes after completing a major engineering phase for its next model, Polestar Five, and amidst a challenging financial landscape. Despite record UK sales, Polestar struggles to compete with Tesla in the EV market. The company is also navigating industry changes due to tariffs and balancing pressures from its Chinese owners. As it bets on Sweden, Polestar's future remains uncertain.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.