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Polestar gets a $450M boost as it delays Q4 earnings

Polestar gets $450 million in funding, though more details will be disclosed in its now-twice-delayed earnings call.

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Credit: Polestar

Electric vehicle (EV) maker Polestar says it has gained a $450 million financial commitment, alongside announcing a delay to its fourth-quarter earnings call.

On Friday, Geely-owned automaker Polestar announced plans to delay its Q4 earnings call and 2024 fiscal year details to next month (via Reuters). The news comes after Polestar had previously announced plans to delay Q4 results in March, after gaining over $800 million in year-long loans which it plans to use to pay off old debts.

Polestar has yet to disclose how it plans to use the new funding, though it’s expected to be detailed in the upcoming earnings call, for which a date has yet to be determined.

It also comes after Polestar saw a 14 percent decline in deliveries in the third quarter, amounting to 44,851 units total and seeing a 15-percent global sale decrease over all of 2024. Additionally,

READ MORE ON POLESTAR: Polestar wants to poach Tesla customers with this trade-in promo

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In August, Polestar appointed Michael Lohscheller as the new CEO along with announcing the departure of former head executive Thomas Ingenlath, as detailed in a press release. Economic trouble also brought former head stakeholder Volvo to sell remaining shares of Polestar to fellow owner and Chinese automaker Geely last year, despite plans to launch its vehicles in as many as seven new world markets in 2025.

Polestar also joined the fold of EV brands to gain access to Superchargers in recent months, as Tesla aims to continue offering broad access to the charging stations to the rest of the industry. Throughout much of 2024, automakers slowly and incresingly adopted Tesla’s North American Charging Standard (NACS) hardware, the company’s proprietary charging port, in exchange for deals that would open Superchargers to non-Tesla EV brands.

Thus far, Polestar joins Ford, General Motors (GM), Lucid Motors, Mercedes, Nissan, Rivian, and Volvo EVs in gaining access to the Supercharger network, as detailed on Tesla’s website.

Polestar sells NVES credits to other OEMs in Australia

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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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Elon Musk

Tesla owner harassed by anti-Musk driver in disturbing encounter

The Tesla driver for two years was en route to a doctor’s appointment when the incident happened.

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Credit: FOX 13 Seattle

A mother and Tesla owner from Lynnwood, WA reported that she was cut off and verbally harassed by another driver earlier this week. 

The incident was recorded through Tesla’s built-in dashcam feature.

The Incident

Leigh, a Tesla driver for two years, was en route to a doctor’s appointment when a white Subaru SUV reportedly swerved in front of her and stopped. As could be seen in the Tesla dashcam video, the Subaru driver, who was wearing a camouflage jacket and ski mask, opened his door and walked towards the Tesla owner. 

“He gets out and walks straight up to my door window. So I cracked my window, and I said, ‘What? What is the problem?’ He goes, ‘You need to sell your car. This is a Nazi car. You’re driving it. You need to sell your car,” Leigh noted in a comment to FOX 13 Seattle.

Fortunately, the mom stated that she was alone when the incident happened. Despite this, the encounter has left her shaken. “I could only see his eyes. He also had a large bag in front of him and baggy clothes. I had no idea if I was safe or not. It certainly felt very threatening and harassing,” Leigh stated.

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Feeling Threatened

The Tesla owner stated that she and her family acquired their electric vehicle because it was convenient and good for the environment. It is then insane that such a vehicle has now become a harassment lure from other drivers. 

“Obviously, this isn’t the first time I’ve driven my car and experienced minor incidents, but to be cut off and approached in my own vehicle, in the middle of the road, at what point do I have any power? I felt very threatened. Just really sad that this is what’s happening to people. Honestly, it doesn’t affect how I believe or what I believe—it’s just the car I drive,” Leigh stated.

Rising Hostility

The Lynnwood incident aligns with a surge in aggression toward Tesla drivers and facilities, from a Las Vegas service center fire to a reported shooting at a store in Oregon. Tesla owners have also reported a growing wave of vandalism incidents against their vehicles. In response, U.S. President Donald Trump has warned that those who attack Teslas will be persecuted. The sentiments were echoed by Attorney General Pam Bondi.

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Elon Musk to file lawsuit against former US Rep Jamaal Bowman: “I’ve had enough”

Bowman called the Tesla CEO a “Nazi” and a “thief” during a segment on CNN.

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MINISTÉRIO DAS COMUNICAÇÕES, CC BY 2.0 , via Wikimedia Commons

Elon Musk has announced that he is filing a lawsuit against former United States Representative Jamaal Bowman over his recent comments in a CNN segment.

Musk shared his legal intentions in a post on social media platform X.

Bowman’s Comments

During an appearance on CNN, Bowman, who made news in 2023 by triggering a fire alarm while Congress was in session, strongly criticized Elon Musk. Unlike other Musk critics, Bowman went straight for the jugular, calling the CEO a “Nazi” and a “thief.” Bowman’s comments received polarizing reactions in social media, with some users stating that such words could be used to sue for defamation.

“The American people do not trust Elon Musk. And Elon Musk is incompetent in his position. And how do we know? Because they fired tens of thousands of people, it was challenged in court, the court said people have to go back, and now the people are coming back. He’s incompetent, he’s a thief, he’s a Nazi, and people don’t trust him,” Bowman said.

“I’ve Had Enough”

In a comment to a video of Bowman’s CNN segment that was shared on X, Musk stated that the former Democratic Congressman’s words have crossed a line. “I’ve had enough. Lawsuit inbound,” Musk wrote in a post on X. Musk’s post received some support from X users, several of whom noted that it’s high time the CEO fought back against the vitriol that is consistently thrown his way.

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Musk has been on the receiving end of protests from critics who oppose his work with U.S. President Donald Trump and the Department of Government Efficiency (DOGE). Opposition against Musk has spilled over to Tesla, resulting in stores being shot, firebombed by Molotov cocktails, vandalized, and vehicles and Superchargers being subjected to arson. Even regular Tesla owners have reported a growing wave of vandalism incidents.

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Tesla aiming to produce first “legion” of Optimus robots this 2025

Tesla is aiming to start the production of Optimus this year, and its first run will be no joke.

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Credit: Tesla

Tesla’s Q1 2025 All-Hands meeting saw CEO Elon Musk share a key update about the company’s most ambitious product yet — Optimus. As per Musk, Tesla is aiming to start the production of Optimus this year, and its first run will be no joke. 

Tesla Optimus’ Quick Evolution

Tesla initially announced Optimus during its AI Day event in 2021. At the time, Tesla only had a mockup of the robot and a literal person in a suit to demonstrate what Optimus could look like. By 2022, Tesla had a working prototype of the robot. Optimus’ progress has been rapid since then, with several dozens of the humanoid robots interacting with attendees at the Cybercab’s unveiling last October.

Optimus’ Potential

During the recent All-Hands meeting, Elon Musk reiterated the idea that Optimus could very well be the biggest product of all time, likely being ten times larger than the next-biggest product. Musk also shared an update about Optimus’ production, stating that the first humanoid robot has been manufactured at the Fremont Factory.

A Legion for 2025

When discussing Optimus’ ramp, Musk clarified that Tesla is internally aiming for enough parts to produce 10,000 to 12,000 Optimus robots this year. However, since Optimus is a completely different product, even half of 10,000 units would be a huge victory for Tesla. Tesla also plans to ramp Optimus to a notable degree in 2026, with the company aiming for 50,000 units, or 10 “legions” of humanoid robots, next year.

“So this year, we hopefully will be able to make about 5,000 Optimus robots.  We’re technically aiming for enough parts to make 10,000, maybe 12,000, but since it’s a totally new product with a totally new, like everything is totally new, I’ll say we’re succeeding if we get to half go the 10,000.

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“But even 5,000 robots, that’s the size of a Roman legion, FYI, which is like a little scary thought. Like a whole legion of robots, I’ll be like ‘whoa.’ But I think we will literally build a legion, at least one legion of robots this year, and then probably 10 legions next year. I think it’s kind of a cool unit, you know? Units of legion. So probably 50,000-ish next year,” Musk said.

Tesla’s Q1 2025 All-Hands Meeting can be viewed below.

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