Drivers who are “scared of change” are guilty of avoiding electric vehicles (EVs) and need to change their ways, the boss of loss-making European car company Polestar warned.
The Daily Telegraph reports Thomas Ingenlath, who has been chief executive of the manufacturer since it became a standalone brand in 2017, also urged manufacturers to stop pumping the brakes on EV roll outs after figures showed sales are slowing down.
Volvo, who purchased Polestar when it was a racing team taking part in the Scandinavian Touring Car Championship, recently pulled the plug on its support for the struggling company.
Thomas Ingenlath, CEO of Polestar, attends a press conference at the Polestar booth before the start of the 2021 International Motor Show (IAA Mobility) in Munich. (Sven Hoppe/picture alliance via Getty)
The brand, often referred to as the “Tesla of Europe” by backers, has since secured an emergency $1billion (£750million) funding boost a consortium of 12 banks – which reportedly still leaves the business falling $350million short of breaking even.
Polestar has been making heavy losses over the past few years, including $1billion and $1.3billion respectively in 2021 and 2022, despite high-profile names, including Leonardo DiCaprio, offering public backing.
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Ingenlath told the Telegraph drivers must now step up and accept change as battery-powered vehicles lose their once illustrious shine:
To tell you the truth, I think that [it is about] being open for innovation and the future technology.
I see far too many people hesitating with that and being scared of change. That is just not a good recipe for the future.
However, Ingenlath claimed rivals slowing their electrification plans were falling into a “trap” and will ultimately be left at a disadvantage given the complexities of launching new vehicles.
His words of advice came in the same week Apple’s hitherto secret effort to develop its own self-driving EV reached a dead end.
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C-SPANMultiple sources confirmed to news outlets Wednesday the iPhone maker has dumped the project after a decade’s work delivered little return on investment, as Breitbart News reported.
The effort to build a competitor for the likes of Tesla and Rivian has never been officially confirmed by Apple, and a spokesman for the company declined to comment.
The news, which was announced to employees on Tuesday, was first reported by Bloomberg.
