Rivals are falling into a trap by delaying EV production, he added.
In the race towards electrification, Polestar, known as “Europe’s Tesla,” is cutting its own path with its all-electric lineup, including the popular Polestar 2 and the upcoming Polestar 3 crossover. Despite delivering around 54,500 cars globally last year, the company is eager for more. However, Polestar’s CEO, Thomas Ingenlath, recently stirred the pot by pointing the finger at an unexpected hurdle in the EV race: people’s fear of change.
According to Ingenlath, the reluctance to embrace the new wave of automotive technology is a significant speed bump on the road to electrification. In his view, hesitance towards innovation is a roadblock to the future. But is it fair to lay the blame at the feet of the consumer? Many experts argue that the real obstacles are as practical as they come: the shock of high sticker prices, the maze of insufficient charging infrastructure, and the ever-present specter of range anxiety.
There’s also the matter of education—or the lack thereof—about electric vehicles. From understanding how to precondition a battery to navigating the nuances of different battery technologies, there’s a gap in knowledge that needs bridging. Polestar’s mission is to drive the world towards electric propulsion, a journey that Ingenlath sees as superior to the traditional combustion engine. But even with a clear destination, the road is fraught with financial potholes.
After Volvo passed the controlling stake torch to Geely, Polestar found itself navigating rough financial waters, securing a $1 billion loan to keep its electric dreams alive. Yet, with ambitions to break even by 2025, the company is still searching for an additional $350 million. The losses have been steep, with billions in the rearview mirror and the road ahead still uncertain.
Ingenlath’s comments raise an important question: Is it really fair to put the slow EV adoption rates down to a fear of change? Or is it more about addressing the tangible barriers that stand in the way of consumers making the switch? As Polestar pushes forward, betting big on electric innovation, it’s clear that the journey to electrification is about more than just convincing people to embrace change. It’s about building a world where the switch to electric feels less like a leap into the unknown and more like a natural next step.
For Polestar and the entire automotive industry, the race toward electrification is as much about creating compelling, accessible electric vehicles as it is about changing minds. It’s not just about who has the most innovative technology, but who can make that technology accessible, understandable, and desirable to all.
Polestar is on a mission, but as it’ll likely find, it’s a journey that requires more than just horsepower—it requires heart, education, and a roadmap that addresses the real concerns of drivers everywhere.
