Polestar's second-quarter net loss widens to $1.03 billion

Swedish electric car manufacturer Polestar released its financial report, revealing that its second-quarter net loss widened to $1.03 billion, significantly higher than the $268 million reported in the same period last year, due to the impact of tariffs and pricing pressures. The main reason for the widening loss was a significant impairment charge on its Polestar 3 model. Due to the US's imposition of tariffs on global trading partners, Polestar significantly reduced the recoverable value of the model, retaining an estimated value of only $25 million, resulting in a $739 million asset impairment charge.