Polestar Automotive reported a challenging second quarter in 2024, revealing a significant operating loss of $242.3 million and a negative operating margin of 141%. The electric vehicle manufacturer experienced a 17% year-over-year decline in revenue, totaling $574.9 million, primarily due to lower vehicle sales and increased discounts. Despite these setbacks, Polestar delivered 13,150 cars in Q2 2024, marking an 82% increase from the previous quarter. The company's stock saw a pre-market rise of 7.4% following the release of its results, with further gains of 20% noted later in the day, as investors remained optimistic about a stronger second half of the year. However, the company faces intense competition and a slowdown in demand, raising concerns about its financial stability and market position.