Electric vehicle pioneer Tesla has trimmed some of its sticker prices to capture an even larger share of the U.S. EV market. But one of the segment's newest entrants — Swedish electric brand Polestar — has no intention of chasing the front-runner.
Polestar CEO Thomas Ingenlath told analysts Thursday on an earnings call that his focus is carving out a niche in the higher-margin, luxury end of the EV market.
While Tesla "is very much concentrating to go mass market in the future to compete with the likes of Volkswagen and Toyota, Polestar's ambition is to go fully into this premium, luxury sports car segment," Ingenlath said. "We are not aiming to produce 10 million cars per year."