The Swedish brand, owned by Chinese giant Geely, was spun out of Volvo with the limited-run Polestar 1 plug-in hybrid but has since made only electric cars.

 

With the pace of EV uptake slowing and legislators in the US scrapping electrification incentives, many of its rivals have scaled back their electrification plans and reinvested in hybrid technology. And while Polestar is growing dramatically, it has continued to post heavy losses.