What makes electric car stock attractive?

Volvo’s subsidiary Polestar is one of the most talked-about young electric car stocks on investor forums. Is it worth starting now?

Polestar is a joint venture between Sweden’s Volvo Group and its Chinese parent Geely. So far, Polestar has introduced three vehicle models, the latest being the SUV Polestar 3, priced at around €90,000. Three more models are planned for 2023-2026.

The company is still in the negative, but the Geely Group is still firmly behind it. Polestar has now had to concede its ambitious annual targets for 2022: Instead of 65,000 vehicles delivered, management expects just 50,000 – still solid value compared to the sometimes very drastic forecasts of other electric carmakers this year.

the share price fell

Polestar has been public since June of this year. The stock opened at $12.98 and has since lost significant value with several swings. It currently costs €5.05 on the Frankfurt Stock Exchange (8:05 a.m. on December 15, 2022).

ECOreporter advised to be skeptical about Polestar shares in the stock market and continues to adhere to this assessment. The company has better prospects than other electric car startups thanks to the support of Geely and Volvo, and also has working production processes. The current more than 11 billion market value of about 15 billion

Sustainable investors should also note that Polestar has so far produced only high-end luxury vehicles with a significantly worse ecological balance than small electric cars.

You can learn more about electronic car sharing in the ECOreporter documentation Tesla, BYD, Lucid: 20 electric car stocks checked and Promotions of young electric cars: with Karachi in front of the border?

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Polestar Automotive Holding UK Plc ADR: ISIN US7311052010 / WKN A3DP4R

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