Polestar is in dire straits. The brand’s sole existing model, the Polestar 2, is built in China and is now subject to a 100% tariff, and Polestar isn't expecting to import as many as it did last year. The company’s stock is battered, with a valuation that’s only one-third as high as VinFast’s, and just dealt with a recent scrape where it was nearly de-listed from the New York Stock Exchange. Even Volvo is cashing out of its investment here. The crisis has prompted the exit of Polestar’s first CEO, replaced by a new one with previous stints at Opel, Nikola and VinFast.
