Polestar Looks to Reverse Sales Plunge With New Compact SUV (1)

Polestar Automotive Holdingis looking to a new compact sport utility vehicle to reverse a plunge in sales as the electric-vehicle maker postponed a cash-flow breakeven target by two years.

The company expects as much as 35% annual retail sales growth over the next three years, Chief Executive Officer Michael Lohscheller said Thursday in an interview, adding that the order book is currently up about 37% after demand recovered some in the fourth quarter.

“That is obviously strong growth from my perspective based on the current market environment,” Lohscheller said. “We are absolutely on the right path.”

The company plans ...