Polestar Takes $739 Million Hit on Dour Outlook for Electric SUV

Polestar Automotive Holding UK Plc took a $739 million writedown on one of its sport utility vehicles due to higher US tariffs and disappointing demand for electric cars.

The non-cash impairment charge for the Polestar 3 — related to higher duties on parts and broader electric-vehicle price pressures — contributed to a wider second-quarter net loss of $1.03 billion, from $268 million a year earlier, the Swedish company said Wednesday. Revenue rose 37% from a year earlier to $791 million.

Polestar has lost most of its market value since being spun out of Volvo Car AB in 2022 and listing ...