ELECTRIC CAR MAKER POLESTAR WILL CUT AROUND 450 JOBS GLOBALLY

Electric car maker Polestar Automotive Holding, plans to cut around 450 jobs globally, or about 15% of its workforce, amid "challenging market conditions", the Swedish company said on Friday.

Over the past year, the anticipated growth in electric vehicles (EVs) has been slow to emerge due to poor demand, heavy price cuts and supply chain issues. Polestar in November trimmed delivery forecasts and outlined a revised business plan.

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