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Polestar CEO Thomas Ingenlath is stepping down amid flagging sales

Polestar is shaking up its leadership.

But Tesla’s price cuts, increasing competition from European automakers, and recurring headaches around charging have lead to a softening in EV demand. Polestar’s ties to China — like Volvo, it is owned by Chinese automaker Geely — are also looking increasingly fraught, as the US, EU, and Canada consider new tariffs on EVs imported from the country. In addition to Opel, he has also served as chief executive of Vinfast, the buzzy Vietnamese EV company, and Nikola, which is producing hydrogen-powered semi trucks.

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