- Polestar’s CEO believes the brand has a unique opportunity to gain new customers.
- He suggests Elon Musk’s controversial politics could work to Polestar’s advantage.
- His comments in a recent interview shed light on a new strategy for the automaker.
Polestar is a relatively young player in the automotive industry. Launched as a standalone brand by Volvo and its parent company, Chinese auto giant Geely in 2017, it has spent the past eight years trying to establish itself while missing several sales targets along the way. In August 2024, Polestar appointed a new CEO, Michael Lohscheller, to help steer the company toward profitability.
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Now, Lohscheller has an interesting (to say the least) plan: he wants to win over Tesla customers who are fed up with Elon Musk’s politics.
Musk has been at the center of multiple controversies, many of his own making. Very recent events aside, he’s polarized consumers with his support of President Donald Trump. On top of that, he’s made his opinion of politics in other nations well known too. In December of 2024, for example, he openly endorsed Germany’s far-right AfD party, while he has also made some controversial comments concerning the political landscape in the UK.
More: Polestar Pins Turnaround Hopes On Porsche Macan-Sized SUV
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Lohscheller thinks this might play into the hands of Polestar. Speaking to Bloomberg News, he said that, “We get a lot of people writing that they don’t like all this. It’s important to listen closely to what they say. And I can tell you, a lot of people have very, very negative sentiments.” In fact, he was even more willing to condemn Musk’s support of the AfD.
“For Germany, somebody outside of Germany endorsing right-wing political parties is a big thing. You want to know what I think about it? I think it’s totally unacceptable. Totally unacceptable. You just don’t do that. This is pure arrogance, and these things will not work.” That said, he did temper his language by saying that Musk was very successful and that he’d done “incredible things with Tesla.”
While Lohscheller’s condemnation of foreign interference in national politics is pointed, it highlights an interesting contradiction. As CEO of Polestar, owned by Chinese automotive giant Geely, he represents a brand tied to one of the world’s most politically influential nations. At a time when China’s role in global industries faces scrutiny, critics might question whether his rebuke of Musk’s “arrogance” fully aligns with Polestar’s own context.
On the flip side, Lohscheller sees an opportunity here to take advantage of disgruntled Tesla owners who want out of any association with Musk. He’s told his salespeople to specifically target such individuals in an effort to get them into a Polestar. Ultimately, whether they come from Tesla or any other brand, Lohscheller just needs customers in seats right now.
Polestar is actively burning through some $110 million a month. It’s surviving in part thanks to almost a billion in funding from banks. To turn things around, though, it’ll need to continue to cut costs while it introduces new models and, hopefully, gains market share.
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