Polestar, the electric vehicle (EV) maker, reported a significant first-quarter operating loss and is taking steps to mitigate the impact of EU and U.S. import tariffs on its China-made cars. The company posted a cash burn of $393 million in the first quarter, leaving it with a cash balance of $784 million, which suggests it may face bankruptcy within a quarter without additional funding. Following the release of its financials, Polestar's stock dropped 5% in pre-market trading. Despite the current financial challenges, Polestar is further cutting costs and expects its revenue to rebound in the future.