Polestar Automotive Holding UK PLC, a Swedish electric vehicle maker controlled by Chinese automaker Geely, reported a challenging year in 2024 with a 10% year-over-year decline in revenue to $551 million in the third quarter, missing the consensus estimate of $634.04 million. The company attributed the revenue drop to lower sales of its Polestar 2 model, increased discounts in a competitive market, and delays in new carline rollouts. Polestar also announced a delay in its profitability target, now expecting positive adjusted EBITDA of $180.5 million in 2025 and positive free cash flow in 2027. The company's shares fell 10% following the announcement of these new financial targets. In response to these challenges, Polestar is planning to launch a new sports car and a compact SUV, the Polestar 7, to boost sales. The company also plans to start car production in Europe and expand sales into France, aiming for a compounded growth rate in vehicle sales of 30%-35% for 2025.