Michael Lohscheller becomes new Polestar CEO

Polestar has announced a leadership change and appointed Michael Lohscheller as the new chief executive officer (CEO) to take the company forward.

Lohscheller will succeed Thomas Ingenlath, the current CEO, who resigned from the company and transition his successor until October 1, 2024.

“Thank you to everybody who contributed so far on this journey, it was a lifetime experience to build up this brand with you all. I wish Michael and the team the best for the next chapter of Polestar” said Ingenlath.

For now, the existing CEO has not given any reason for his departure or what he plans to do next.

The new CEO brings vast experience in the automotive industry and served as CEO of Opel, VinFast, and Nikola. He worked his way through competitive markets and scaling business.

Polestar CEO Michael Lohscheller (Source – Polestar)

“I am honored to join Polestar at such an exciting time in the Company’s history. Polestar has already established itself as one of the most desirable and innovative brands in the electric vehicle space, and I look forward to working with the talented team to build on this strong foundation and accelerate our development,” said Lohscheller.

In the first quarter of this year, Polestar recorded 7,200 car deliveries along with cash and cash equivalents of $784 million as of March 31, 2024. In the second quarter, it delivered approximately 13,000 cars, a strong 80 percent growth compared to the first quarter.

The company has recently started building Polestar 3 in the US and began the first deliveries of Polestar 4 in Europe.

(source)