E-car manager expects price increases by tariffs

The head of the electric car maker Polestar, Michael Lohscheller, expects price increases in the industry if tariffs should drive up the costs. In the short term, you could cushion this with « tactical measures », « but I cannot imagine that you will not pass it on in the market in the medium and long term, » said Lohscheller of the German Press Agency. « I am convinced that the industry will praise in total », even if you counteract cost reductions.

The electric car maker based in Sweden is controlled by the Chinese Geely Group, which is also behind Volvo. So far, Polestar has largely been producing in Asia-but also for the US market in the Volvo plant in South Carolina. For electric cars from China, a custom of 100 percent has been in effect in the United States since President Joe Biden’s last government. The far -reaching tariffs that are threatening under Donald Trump should also apply to components from different countries and are likely to hit all automakers.

« The work is very helpful, » said Lohscheller with a view of the factory in South Carolina. There is enough capacity to expand production there for both Volvo and Polestar. But it is also about finding more suppliers in the USA or ideally near the work. « Shipping parts over large routes cannot be the future of the business model, » said the Polestar boss. The changeover does not go overnight, but localization will be the direction of march. In Europe, the company wants to build the future compact SUV Polestar 7.

In the past quarter, Polestar increased deliveries by 76 percent to 12,304 vehicles in the year. In the USA, the company attracts Tesla drivers with an additional discount of $ 5,000, with which you can get a total of $ 20,000 cheaper in leasing. Tesla has been leading the electric car market for years, but the experts see an image damage for the brand through the political activities of CEO Elon Musk. In the United States, the polestar movements rose by 74 percent.