An indication of the occasions, Volvo’s Polestar efficiency division has introduced that it has cut production targets by 20,000 items for the 2023 mannequin yr, whereas production for the Volvo EX90 and Polestar 3 electric autos are each delayed to the primary half of 2024. Volvo has additionally introduced a ten% discount in jobs in an effort to cut prices, regardless of 25% development in the worldwide EV market in Q1 of 2023.
The electric revolution seems to be rising steadily. According to the International Energy Agency’s Global EV Outlook, the primary quarter of 2023 noticed a 25% bounce in EV gross sales in comparison with the identical time final yr. It’s a bit puzzling, then, that Volvo and Polestar appear to be scaling again their EV efforts. Despite Polestar’s 26% supply improve for Q1 2023, the EV maker has introduced that it’s growing “cost management” and pushing again production of its newest launch.
Confounding issues, Volvo is delaying the production of its EX90 electric SUV to the primary half of 2024, that means its “early 2024” availability appears unlikely. Likewise, the Polestar 3 EV that is primarily based on the identical platform will see related production delays. Both firms cited growing time in software program growth as the rationale for extending the production schedule. Polestar can also be reducing again its production targets for 2023 from its authentic 80,000 unit goal to 60,000-70,000.
Despite the adjusted production forecast, Polestar nonetheless expects 16-36% development year-over-year. More concerningly, Volvo is reportedly decreasing its labour division by 10% in an effort to cut prices. Although the electric vehicle market does appear to be rising healthily, it’s at the moment a tumultuous market. Look no additional than Tesla’s latest immense price cuts in response to stiffer competitors from BYD, in addition to Ford’s infamous US$58,000 per-unit loss on the Mach-E, to see how aggressive the market has change into.
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Julian van der Merwe – Magazine Writer – 132 articles printed on Notebookcheck since 2022
My curiosity in tech began in highschool, rooting and flashing my Motorola Defy, however I actually fell down the rabbit gap once I realised I may overclock the i7 930 in my Gigabyte pre-built PC. This tinkering habit finally lead me to review product design in college. I believe tech ought to enhance the lives of the folks utilizing it, irrespective of the sphere. I wish to learn and write about laptops, smartphones, software program and traits in expertise.
Julian van der Merwe, 2023-05-16 (Update: 2023-05-16)
…. to be continued
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