Polestar Seizes on Tesla Owners’ Discontent Over Elon Musk ‘s Actions
(NEW YORK, 23rd Bloomberg) Polestar’s CEO, Michael Lohscheller, believes that Tesla’s CEO, Elon Musk ‘s increasingly active role in international politics has stirred discontent among many Tesla owners, creating an opportunity for Polestar to expand. In an interview with Bloomberg, Lohscheller stated, “Many people have expressed their displeasure, and it’s important to listen carefully to their thoughts. I can tell you that a lot of them have very, very negative views.”
Polestar Gaining Ground as Tesla Faces Internal Backlash
Lohscheller emphasized that the growing frustration among Tesla owners over Musk’s political actions in countries like the U.S., Germany, and the U.K. could work in Polestar’s favor. He acknowledged that while Polestar’s sales have disappointed over the past year, falling short of initial expectations, the current climate provides an excellent opportunity for Polestar to attract disenchanted Tesla customers.
Lohscheller Criticizes Elon Musk ’s Political Stance, Especially in Germany
Although Lohscheller praised Musk for his extraordinary success as an entrepreneur, he was unreserved in his criticism of Musk’s support for the far-right political party, the Alternative for Germany (AfD). Lohscheller made his stance clear, saying, “For Germany, having a foreign national supporting a right-wing party is a significant issue. Do you want to know what I think about it? I find it completely unacceptable. This is pure arrogance, and it will not work.”
Lohscheller Predicts 35% Annual Growth for Polestar in the Next Three Years
While Tesla has faced its first decline in vehicle deliveries in over a decade, Polestar’s stock has dropped 92% since its 2022 public listing. However, Lohscheller remains optimistic, forecasting a 35% annual growth rate for Polestar’s retail sales over the next three years. The company plans to achieve this growth through a more traditional dealership model and the introduction of new models, including a compact SUV. Lohscheller, who took over as CEO in October of the previous year, believes these steps will significantly boost the company’s performance.