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Polestar reports $242M Q2 loss, remains hopeful for rest of 2024

Credit: Polestar

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Geely- and Volvo-owned electric vehicle (EV) maker Polestar posted heavy losses for the second quarter of the year, though the company remains hopeful about its prospects through the end of the year.

Polestar shared its Q2 earnings results in a press release last week, reporting an operating loss of $242.3 million. The figure was down from last year’s second-quarter losses of $273.6 million, marking a 12 percent drop year over year.

However, the Polestar’s revenue dropped 17 percent to $574.9 million, which the company says was due to “lower global volumes and higher discounts.”

Cash and cash equivalents landed at $669 million at the end of June, and the company says it’s remaining optimistic about the remainder of the year.

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“Polestar remains confident of a stronger second half of the year, particularly in the fourth quarter as sales of the two premium SUVs build,” the company writes in the release.

The EV maker also delivered 13,150 units during the quarter, which marked an 82 percent increase from Q1, with total deliveries in the first half of the year rising to 20,371. The company notes that it saw particularly strong momentum in the U.S., Sweden, Norway, and Germany.

Polestar announces $950M in external funding

The release also highlights Polestar’s recent announcement that Michael Lohscheller will replace Thomas Ingenlath as the automaker’s CEO, effective in October as the company aims to launch the brand in a wider range of global markets. Chairman Håkan Samuelsson also stepped down in June, after overseeing the brand alongside Ingenlath, both since its inception.

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During the second quarter, Polestar announced plans to launch its EVs in seven new markets in 2025, including Brazil, the Czech Republic, France, Hungary, Poland, Slovakia, and Thailand.

Polestar also began delivering the Polestar 4 last month, its first effort in the SUV coupe segment with a range of up to 620 km (~385 miles). The EV maker also began producing the Polestar 3 SUV in China in February, later launching production at a U.S. facility in South Carolina, set to help the company avoid tariffs and gain access to other domestic sales incentives.

In April, Volvo stepped back as Polestar’s majority stakeholder, reducing its stake from 48 to just 18 percent and ceding the rest to Geely.

Polestar follows Tesla in departure from Australian lobby group

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What are your thoughts? Let me know at zach@teslarati.com, find me on X at @zacharyvisconti, or send your tips to us at tips@teslarati.com.

Zach is a renewable energy reporter who has been covering electric vehicles since 2020. He grew up in Fremont, California, and he currently lives in Colorado. His work has appeared in the Chicago Tribune, KRON4 San Francisco, FOX31 Denver, InsideEVs, CleanTechnica, and many other publications. When he isn't covering Tesla or other EV companies, you can find him writing and performing music, drinking a good cup of coffee, or hanging out with his cats, Banks and Freddie. Reach out at zach@teslarati.com, find him on X at @zacharyvisconti, or send us tips at tips@teslarati.com.

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Tesla pushes back against unfair reporting of accidents

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(Credit: Tesla)

Tesla is pushing back against the unfair reporting of accidents involving its vehicles. Many media outlets were quick to jump to conclusions about a fatal accident involving a Tesla in Katy, Texas, that happened recently.

The driver of the vehicle, which slammed into a brick house and killed a woman inside, stated the car was operating on Autopilot. Tesla CEO Elon Musk and Head of AI Ashok Elluswamy both challenged that claim, with Elluswamy revealing last night that the system was overridden by the driver, who pressed the accelerator pedal “all the way to 100%.”

Tesla finally clarifies fatal Texas crash, confirms driver manually overrode acceleration

The car reached a speed of 73 MPH during the crash, Elluswamy detailed, and stated that the accelerator pedal was even pressed after the crash.

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The story has been spread throughout the media with either incomplete or incorrect reporting, with some stories still not updated nearly 24 hours after Musk and Elluswamy posted answers about the crash on X.

The reporting has been a thorn in the side of Tesla for several years. Vehicle accidents involving Teslas are usually reported with the manufacturer’s name in the headline, while other companies are free of criticism when their cars are involved in accidents.

Here’s an example of that:

Many media outlets stated the car was in “self-driving mode” or “Autopilot mode” when the car crashed. The truth is, now that Tesla has chimed in, that the driver had manually overriden the system by pressing the accelerator. Elluswamy commented on the unfair reporting:

“This blatantly irresponsible reporting does more harm to people than they realize.

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Using Tesla self-driving is far safer than manual driving, and this was measured over 10B miles.

Planting such FUD in the minds of general public, who might not know the all the facts, might prevent them from using this technology that makes them safer.”

The damage these headlines do to Tesla and the self-driving car movement is unexplainable. Most people do not realize the safeguards that are in place with Tesla’s self-driving functions; many people who have used it know the car would never travel at that speed in a residential area, not even on the most aggressive “Mad Max” setting.

It is important to remember that Tesla Full Self-Driving is not autonomous, and the company never claimed it was. Drivers are still responsible for paying attention and remaining vigilant. They must be able to take over at all times.

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Tesla gets another layer of gamification with Free Supercharging on the line

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Credit: Tesla

Tesla Supercharging is getting yet another layer of gamification, as the company is rolling out a new competition that could win Free Supercharging miles.

Tesla is ramping up its efforts to make vehicle ownership more engaging through gamification. In June 2026, the company announced the 2026 Free Supercharging Competition, building on the Charging Passport feature introduced the previous year. This initiative turns Supercharging into a competitive, collectible adventure while offering substantial real-world incentives.

The Charging Passport, rolled out late last year, functions like a digital travel log or a year-in-review for Tesla owners. These types of things are used by many platforms, including Spotify and Apple Music, which show listeners what type of taste they had for the year.

Accessed in the Tesla App under the ‘Charging’ section, it displays a map of visited Superchargers, key stats, such as total energy charged (kWh), number of unique sites, total charging sessions, top charging day, and miles added. Owners earn collectible Charging Badges in categories, which include:

  • Charging Milestones – for total energy, consecutive weeks of Supercharging, or unique sites visited
  • Iconic Chargers – for Flagship Locations or stations near famous landmarks
  • Special Events – limited-time badges for specific experiences. These badges appear within 24 hours of qualifying activity and provide a fun, shareable recap of an owner’s Supercharging journeys. Milestone progress resets annually, allowing fresh challenges each year

The 2026 contest elevates this gamification by rewarding top performers with lifetime free Supercharging. All Supercharging sessions from January 1 to December 31, 2026, count toward the competition. To participate, owners must enable “Share Charging Data with Tesla App” in vehicle settings and open the 2026 Charging Passport in the app at least once before January 1, 2027.

Nine winners will be selected — three per region (Americas, Asia-Pacific, and EMEA, with some  countries excluded for regulatory reasons) — one in each of three categories:

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  • Longest Trip: Longest continuous streak of unique Supercharger locations where each new site is visited within 24 hours of the previous session’s start time
  • Most Unique Supercharger Sites Visited: Highest number of distinct locations
  • Most Energy Supercharged: Highest total in kWh charged at Superchargers

A unique site is defined as shown in the Tesla app or vehicle navigation. Repeat visits during a streak are allowed but do not extend the count. Ties are broken by total energy charged. Ineligible participants include vehicles already receiving free Supercharging, commercial-use vehicles (taxi, rideshare, delivery), Tesla employees and their immediate families, and residents of certain excluded countries.

Winners receive free Supercharging on the winning vehicle for as long as they own or lease it.

This contest is part of Tesla’s broader gamification strategy. The Safety Score has long rewarded safe driving habits with a numerical rating that can influence insurance rates or feature access. The referral program incentivizes owners with credits or free Supercharging months for successful referrals.

In-app statistics, streaks, and community features further encourage engagement. Older third-party apps even awarded “mayor” titles for frequenting specific Superchargers.

By combining digital badges, competitive leaderboards, and high-value rewards, Tesla boosts network utilization, gathers usage data, and fosters deeper owner loyalty. The 2026 Free Supercharging Competition invites enthusiasts to plan epic road trips while turning everyday charging into a rewarding pursuit. With the Passport already proving popular, expect heightened activity across the Supercharger network throughout the year.

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Tesla tops American-Made Index for sixth-consecutive year

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Credit: Tesla

Tesla is atop the American-Made Index from Cars.com for the sixth-straight year, as the Model 3 and Model Y took the top two spots, respectively.

Last year, the Model 3, Model Y, Model S, and Model X took the top four spots, respectively. The company has routinely performed well in the Index. However, Tesla discontinued its flagship Model S and Model X earlier this year, which took the two cars out of the ranking.

Cybertruck is not considered due to its curb weight being above the 8,500-pound threshold, which eliminates it from being required to have more detailed assembly information.

Cars.com uses five main categories to develop its rankings:

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  • Location(s) of final assembly
  • Percentage of U.S. and Canadian parts
  • Countries of origin for all available engines
  • Countries of origin for all available transmissions
  • U.S. manufacturing workforce

These five major factors are then put into a 100-point scale. The vehicles with the highest scores sit atop the list. The Model 3 edged out the Model Y.

Tesla uses a strong domestic strategy to build its cars and parts domestically. It relies on intense vertical integration that reduces its dependence on global suppliers, keeping more value and jobs in the United States.

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This strategy has helped Tesla gain a strong reputation for domestically produced vehicles and parts. However, it helps it with more than just awards like this one. Keeping a supply chain local has also helped insulate Tesla more than others from tariffs and supply chain disruptions.

This year’s American-Made Index from Cars.com studied nearly 400 vehicles from the 2026 model year. Tesla was the only manufacturer to have an EV inside the Top 10. The Kia EV9 was the next EV to make the list, scoring the 17th position.

The Hyundai IONIQ 5 was 21st, and the final EV to make the list was the Cadillac LYRIQ in 77th.

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