Polestar To Resume Expansion Into New Markets With France, Says Report: Retail's Still Skeptical

Swedish EV maker Polestar (PSNY) is reportedly eyeing starting deliveries of its cars in France this year.

Stephane Le Guevel, managing director of Polestar France, told Reuters that the EV maker is looking to initiate deliveries in France to make it one of its three main European markets, along with Britain and Sweden.

Polestar last launched in new markets in 2022.

Guevel told Reuters that the company is looking to concentrate in France this year and“restart the tempo” in 2026. Europe currently accounts for a majority of the EV maker's sales.

Polestar will start taking orders for its Polestar 2,3, and 4 models in France on Wednesday at starting prices ranging from €46,800 ($53,523) to €79,800, Reuters reported.

The first showroom in France is expected to open in Le Mans in July, with the initial deliveries slated for October, the report added.

Polestar reported an 84% year-on-year (YoY) surge in first-quarter revenue to $608 million and a narrower net loss last month. The revenue rise was primarily driven by a 76.5% jump in retail sales, supported by newer models, to an estimated 12,304 cars.

The company's net loss in the three months through the end of March fell to $190 million from $276 million in the corresponding period of 2024.

Polestar, majority-owned by China's Geely, paused its financial guidance for 2025 in late April, citing current uncertainty surrounding international tariffs and government regulations impacting its business and market dynamics.

On Stocktwits, retail sentiment around Polestar stayed unmoved within the 'bearish' territory over the past 24 hours while message volume fell from 'normal' to 'low' levels.

A Stocktwits user, however, raised questions about the company's cash reserve.

Last month, the company said its cash position stood at $732 million as of the end of the first quarter.

PSNY stock traded 3% lower in pre-market trading on Wednesday. The stock is down by about 4% this year but has gained about 39% over the past 12 months.

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