Latest news with #Polestar2
Perth Now
2 days ago
- Automotive
- Perth Now
Polestar 2 recalled
Polestar is recalling certain examples of its Polestar 2 electric fastback as they may suffer from a braking performance issue. 'Due to a software issue, under certain driving conditions if the vehicle's one-pedal drive function is activated it may lead to a loss of braking performance,' the company says in its recall notice. A loss of braking performance could increase the risk of an accident causing injury or death to vehicle occupants and/or other road users. Polestar advises the vehicle is 'safe when driven with one-pedal drive function deactivated'. To toggle this on and off, press the car icon in the centre display and select Drive; the one-pedal drive option appears in this menu. Supplied Credit: CarExpert A total of 23 vehicles are affected, built in 2024 The Vehicle Identification Number (VIN) list is attached here The original recall notice is attached here If you own an affected vehicle, you'll need to contact Polestar customer support or an authorised dealer to schedule a free fix. If you have any further questions, you can contact the company on (02) 9423 0876. MORE: Everything Polestar 2
7NEWS
2 days ago
- Automotive
- 7NEWS
Polestar 2 recalled
Polestar is recalling certain examples of its Polestar 2 electric fastback as they may suffer from a braking performance issue. 'Due to a software issue, under certain driving conditions if the vehicle's one-pedal drive function is activated it may lead to a loss of braking performance,' the company says in its recall notice. A loss of braking performance could increase the risk of an accident causing injury or death to vehicle occupants and/or other road users. Polestar advises the vehicle is 'safe when driven with one-pedal drive function deactivated'. To toggle this on and off, press the car icon in the centre display and select Drive; the one-pedal drive option appears in this menu. A total of 23 vehicles are affected, built in 2024 The Vehicle Identification Number (VIN) list is attached here The original recall notice is attached here If you own an affected vehicle, you'll need to contact Polestar customer support or an authorised dealer to schedule a free fix. If you have any further questions, you can contact the company on (02) 9423 0876.
Auto Express
3 days ago
- Automotive
- Auto Express
Car Deal of the Day: Premium Polestar 2 for a paltry £308 a month
Smart design, premium feel Long 344-mile range Only £307.54 a month Polestar is really flexing its muscles right now in the electric car space with the new 3 and 4 SUVs. But while those cars are in the limelight, don't forget the original Polestar 2 that kicked off the brand as we know it today. Advertisement - Article continues below This deal will certainly put the Polestar 2 front and centre in your mind if you're looking for a premium electric saloon, because, through the Auto Express Find a Car service, you can get one for less than £310 a month. Select Car Leasing is offering the posh Polestar for just £307.54 a month right now. An initial payment of £4,044.48 is required to kick things off, and this is a four-year deal with a cap of 5,000 miles a year. You won't be stung if you need extra miles, because an agreement for 8,000 miles per annum will only cost you around £7 extra a month. This will be welcome news to those who need a long-legged EV with a chunky mileage allowance. The Polestar 2 certainly can travel long distances between charges. This deal gives you the Standard Range model, but even this can manage a claimed 344 miles before needing to be topped up. Plus, with its 135kW DC charging capability, a rapid charge will take less than 30 minutes. The 2 was the car that effectively launched the electric Polestar name to the masses (the Polestar 1 was a small volume plug-in hybrid coupé), and as such it has the premium look and feel the brand strives to offer. The interior is brimming with lovely design details and trimmed with eco-friendly materials, and the Google-based infotainment system is a joy to use. It's good to drive, too, because Polestar has given a sporty edge to the ride and handling, meaning that despite its advancing years the 2 is still one of the most engaging premium EVs around. The Car Deal of the Day selections we make are taken from our own Auto Express Find A Car deals service, which includes the best current offers from car dealers and leasing companies around the UK. Terms and conditions apply, while prices and offers are subject to change and limited availability. If this deal expires, you can find more top Polestar 2 leasing offers from leading providers on our Polestar 2 hub page. Check out the Polestar 2 deal or take a look at our previous Car Deal of the Day selection here…
Business Wire
4 days ago
- Automotive
- Business Wire
Polestar announces USD 200 million equity investment
BUSINESS WIRE)--Polestar (Nasdaq: PSNY) announces a USD 200 million equity investment by PSD Investment Limited ('PSD Investment'), an existing investor, an entity that is controlled by Mr. Shufu (Eric) Li, Founder and Chairman of Geely Holding Group. Polestar Automotive Holding UK PLC ('Polestar') has entered into a securities purchase agreement pursuant to which Polestar agreed to sell newly issued 190,476,190 Class A American Depositary Shares ('ADS') to PSD Investment for an aggregate price of USD 200,000,000 through a private investment in public equity ('PIPE') at a price of $1.05 per Class A ADS, which represents the volume weighted average closing sale price for the previous five consecutive trading days prior to signing. Prior to closing of the PIPE, PSD Investment intends to convert 20,000,000 of its Class B ADS shares into Class A ADS shares in order to keep the overall voting power of its Polestar shareholdings below 50%. Polestar intends to use the proceeds from the equity investment for working capital requirements and general corporate purposes. About Polestar Polestar (Nasdaq: PSNY) is the Swedish electric performance car brand with a focus on uncompromised design and innovation, and the ambition to accelerate the change towards a sustainable future. Headquartered in Gothenburg, Sweden, its cars are available in 28 markets globally across North America, Europe and Asia Pacific. Polestar has three models in its line-up: Polestar 2, Polestar 3, and Polestar 4. Planned models include the Polestar 5 four-door GT (to be introduced in 2025), the Polestar 6 roadster and the Polestar 7 compact SUV. With its vehicles currently manufactured on two continents, North America and Asia, Polestar plans to diversify its manufacturing footprint further, with production of Polestar 7 planned in Europe. Polestar has an unwavering commitment to sustainability and has set an ambitious roadmap to reach its climate targets: halve greenhouse gas emissions by 2030 per-vehicle-sold and become climate-neutral across its value chain by 2040. Polestar's comprehensive sustainability strategy covers the four areas of Climate, Transparency, Circularity, and Inclusion. Forward-looking statements Certain statements in this press release ('Press Release') may be considered 'forward-looking statements' as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or the future financial or operating performance of Polestar including the number of vehicle deliveries and gross margin. For example, projections of revenue, volumes, margins, cash flow break-even and other financial or operating metrics and statements regarding expectations of future needs for funding and plans related thereto are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as 'may', 'should', 'expect', 'intend', 'will', 'estimate', 'anticipate', 'believe', 'predict', 'potential', 'forecast', 'plan', 'seek', 'future', 'propose' or 'continue', or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Polestar and its management, as the case may be, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) Polestar's ability to enter into or maintain agreements or partnerships with its strategic partners, including Volvo Cars and Geely, original equipment manufacturers, vendors and technology providers; (2) Polestar's ability to maintain relationships with its existing suppliers, source new suppliers for its critical components and enter into longer term supply contracts and complete building out its supply chain; (3) Polestar's ability to raise additional funding; (4) Polestar's ability to successfully execute cost-cutting activities and strategic efficiency initiatives; (5) Polestar's estimates of expenses, profitability, gross margin, cash flow, and cash reserves; (6) Polestar's ability to continue to meet stock exchange listing standards; (7) changes in domestic and foreign business, market, financial, political and legal conditions; (8) demand for Polestar's vehicles or car sale volumes, revenue and margin development based on pricing, variant and market mix, cost reduction efficiencies, logistics and growing aftersales; (9) delays in the expected timelines for the development, design, manufacture, launch and financing of Polestar's vehicles and Polestar's reliance on a limited number of vehicle models to generate revenues; (10) increases in costs, disruption of supply or shortage of materials, in particular for lithium-ion cells or semiconductors; (11) risks related to product recalls, regulatory fines and/or an unexpectedly high volume of warranty claims; (12) Polestar's reliance on its partners to manufacture vehicles at a high volume, some of which have limited experience in producing electric vehicles, and on the allocation of sufficient production capacity to Polestar by its partners in order for Polestar to be able to increase its vehicle production volumes; (13) the ability of Polestar to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (14) risks related to future market adoption of Polestar's offerings; (15) risks related to Polestar's current distribution model and the evolution of its distribution model in the future; (16) the effects of competition and the high barriers to entry in the automotive industry and the pace and depth of electric vehicle adoption generally on Polestar's future business; (17) changes in regulatory requirements (including environmental laws and regulations and regulations related to connected vehicles), governmental incentives, tariffs and fuel and energy prices; (18) Polestar's reliance on the development of vehicle charging networks to provide charging solutions for its vehicles and its strategic partners for servicing its vehicles and their integrated software; (19) Polestar's ability to establish its brand and capture additional market share, and the risks associated with negative press or reputational harm, including from electric vehicle fires; (20) the outcome of any potential litigation, including litigation involving Polestar and Gores Guggenheim, Inc., government and regulatory proceedings, tax audits, investigations and inquiries; (21) Polestar's ability to continuously and rapidly innovate, develop and market new products; (22) the impact of the ongoing conflict between Ukraine and Russia and in Israel, the Gaza Strip and the Red Sea; and (23) the impact of the ongoing conflict between Ukraine and Russia and in Israel, the Gaza Strip and the Red Sea; and (24) other risks and uncertainties set forth in the sections entitled 'Risk Factors' and 'Cautionary Note Regarding Forward-Looking Statements' in Polestar's Form 20-F, and other documents filed, or to be filed, with the SEC by Polestar. There may be additional risks that Polestar presently does not know or that Polestar currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Nothing in this Press Release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Polestar assumes no obligation to update these forward-looking statements, even if new information becomes available in the future, except as may be required by law.
New York Post
12-06-2025
- Automotive
- New York Post
Mitsubishi recalls nearly 200,000 vehicles due to rearview camera issue
Mitsubishi Motors North America is recalling nearly 200,000 Outlander and Outlander plug-in hybrid electric SUVs because of faulty software that could make their rearview cameras malfunction. The automaker said in a National Highway Traffic Safety Administration (NHTSA) recall report that the infotainment system inside over 198,900 Outlanders from model years 2022-2024 and Outlander PHEV SUVs from model years 2023-2025 could 'freeze or display a black screen.' That could cause the rearview camera image to 'be lost' while backing up, which could heighten the risk of a crash and make the potentially affected SUVs out of compliance with a federal regulation about rear visibility, according to the NHTSA recall report. Mitsubishi linked the problem to 'improper software programming' in the infotainment system. The recalled Outlander SUVs were produced between early February 2021 and late December 2024, while the potentially affected Outlander PHEVs were manufactured between late September 2022 and April 2025, the recall report indicated. 3 The recall for the plug-in hybrid electric SUVs because of faulty software that could make their rearview cameras malfunction. The recall 'replaces and expands' a prior recall Mitsubishi issued in May 2023, according to the NHTSA. The issue at the center of the recall hasn't led to any known injuries or deaths, the recall report said. Owners of the recalled Outlander and Outlander PHEV vehicles will get a letter in the mail about the recall toward the end of June. They will receive instructions to take their vehicle to a dealership, where it will reprogram the in-vehicle infotainment system with 'countermeasure software,' according to the recall report. The service will not cost customers anything. 3 The issue at the center of the recall hasn't led to any known injuries or deaths, the recall report said. Art Konovalov 'Vehicles previously repaired under recall 23V345 will need to have the new remedy completed,' the NHTSA noted. 'Affected customers will be notified beginning later this month, and we would encourage anyone receiving a notification to contact their local Mitsubishi Motors dealer partner – it does not need to be the dealership from where the vehicle was purchased, any Mitsubishi Motors dealership can assist – as soon as possible upon receipt of the notification to make an appointment for the software update to be applied to their vehicle,' a Mitsubishi spokesperson told FOX Business. In recent months, other automakers have recalled vehicles to address rearview camera-related problems. 3 Owners of the recalled Outlander and Outlander PHEV vehicles will get a letter in the mail about the recall toward the end of June. Volvo put some 413,000 vehicles in the U.S. under recall for a problem that could cause the backup camera image not to show in early May. More than 27,800 Polestar 2 electric vehicles from model years 2021-2025 also faced a recall last month for 'visualization issues' with a rearview camera display. In April, Porsche Cars North America recalled over 8,500 of its 2024-2025 Macan electric crossovers, citing issues that could affect backup cameras. Mitsubishi has a webpage where owners can enter a Vehicle Identification Number (VIN) to see if a vehicle is subject to a recall.
