Geely-affiliated EV Maker Polestar Reportedly Cuts 30% of China Staff
Polestar, which is affiliated with Geely, is reportedly laying off 30% of its Chinese workforce. The corporation has halted production at its Chengdu site and will reduce office space in Shanghai. This move is part of Polestar's efforts to streamline operations and adapt to changing market conditions.
The business intends to downsize its personnel by about 30% by the end of September, which will have a significant impact on its local auto production operations. Polestar is making this move in order to streamline its operations and adapt to changing market conditions.
Polestar, which is owned by the Chinese automaker Geely, has already halted manufacturing at its site in Chengdu, southwestern China. Additionally, the corporation intends to reduce office space at its regional headquarters in Shanghai. These actions are part of Polestar's efforts to optimise its resources and adapt to the changing automotive industry.
Polestar revealed earlier this year that it intends to decrease its global staff by approximately 15%, reflecting the company's struggles in the highly competitive electric vehicle sector. Polestar sold fewer than 1,000 cars in China, the world's largest auto market, in the first four months of the year.
Polestar, associated with Geely, is reportedly laying off 30% of its China staff.
The company has suspended production at its Chengdu facility and will downsize office space in Shanghai.
This move comes as Polestar aims to streamline operations and adjust to market conditions.
Source: TECHNODE