EV firm Polestar expects positive fourth-quarter gross margin despite slow demand

Shares of the Swedish company fell 3.8% in premarket trading. Polestar, which is majority owned by China's Geely, has been grappling with weakening demand for its vehicles owing to factors such as high interest rates, prompting consumers to pivot to cheaper hybrid cars. Polestar recently went through a major reshuffle where it replaced its CEO, head of design, board chair, and appointed a new CFO.