"In an emailed statement, the spokesperson said it no longer requires the R&D capacity in the UK now that the engineering work for the Polestar 5, its upcoming model, is complete. They added that it was centralizing its R&D work at its headquarters in Sweden. "With a leaner organisational set-up, our focus remains on developing the best performance EVs on the market," the spokesperson said, adding that its focus was on supporting those affected by the cuts."
"Polestar, which employs 2,100 people globally, has increasingly shifted its focus to Europe as US tariffs have rocked the global auto industry. The Nasdaq-listed company is majority-owned by the Chinese conglomerate Geely, which owns Volvo Cars and Lotus. Polestar sold a record 2,758 vehicles in the UK last month. However, the luxury carmaker is burning through cash, reporting a net loss of $1.03 billion in the second quarter of 2025."
Polestar has shut its two UK R&D sites in Nuneaton and Coventry and is laying off 130 staff, with redundancy expected to finish by year-end. The company said R&D will be centralised at its headquarters in Sweden because the engineering work for the Polestar 5 is complete. Polestar employs about 2,100 people globally and plans a leaner organisational set-up while supporting affected staff. The Nasdaq-listed company is majority-owned by Geely and has shifted focus to Europe amid US tariff pressures. Polestar sold 2,758 UK vehicles last month but reported a $1.03 billion net loss in Q2 2025 and previously cut 450 jobs in January 2024.
Read at Business Insider
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