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MarketScreener Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  AB Volvo    VOLV B   SE0000115446

AB VOLVO

(VOLV B)
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Geely's EV maker Polestar recalls all Polestar 2 sedans again

10/29/2020 | 10:47am EST
FILE PHOTO: A man looks at a Polestar Precept car at the Beijing International Automotive Exhibition

STOCKHOLM (Reuters) - Electric vehicle maker Polestar, owned by Volvo Cars and its parent China's Geely, is recalling its new Polestar 2 cars for the second time in a month, it said on Thursday.

The company, which made its last recall on Oct. 2 after several cars had lost power and stopped running, is recalling close to 4,600 vehicles due to a faulty component.

"Polestar has initiated a voluntary safety recall and a service campaign that contains a number of updates for Polestar 2 vehicles," the firm said in statement.

"The recall involves the replacement of faulty inverters on most delivered customer vehicles," Polestar said, adding the hardware updates can be done in a single workshop visit.

The Sweden-based automaker started producing its Polestar 2 sedans this year in China and sells them in Europe and the United States as well as China.

(Reporting by Helena Soderpalm; editing by Niklas Pollard)


© Reuters 2020
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Financials
Sales 2020 336 B 39 426 M 39 426 M
Net income 2020 15 930 M 1 869 M 1 869 M
Net cash 2020 49 886 M 5 853 M 5 853 M
P/E ratio 2020 25,9x
Yield 2020 2,43%
Capitalization 413 B 48 221 M 48 489 M
EV / Sales 2020 1,08x
EV / Sales 2021 0,95x
Nbr of Employees 88 889
Free-Float 87,1%
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 203,19 SEK
Last Close Price 203,30 SEK
Spread / Highest target 18,5%
Spread / Average Target -0,05%
Spread / Lowest Target -42,9%
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Managers
NameTitle
Martin Lundstedt President, Chief Executive Officer & Director
Carl-Henric Svanberg Chairman
Jan Olof Ytterberg Chief Financial Officer & EVP-Group Finance
Lars Stenqvist CTO & Executive VP-Group Trucks Technology
Hanne Jimenez de Mora Independent Director
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