LOS ANGELES — Electric vehicle maker Polestar is witnessing the downside of the "asset-light" strategy that is key to its rapid growth plan.
To operate fast and easy, Polestar is reliant on global partners to help produce its models. But when those partners can't deliver according to plan, Polestar's strategy can kneecap its growth.
That is what is happening to the Swedish startup.
Polestar is part of a portfolio of brands controlled by China's Zhejiang Geely Holding Group, which includes Volvo Cars, Lynk & Co and Lotus. The Chinese conglomerate's network of global factories, supplier networks and R&D centers allow the young brand to focus on product and technology rather than manufacturing or logistics, according to the plan.