Polestar boss questions ‘paper value’ of rival EV manufacturers

Polestar chief executive Thomas Ingenlath has questioned the “paper value” of rival electric vehicle (EV) manufacturers as the Geely-owned carmaker continues to be linked with a possible public offering.

Speaking at this week’s Shanghai International Auto Show, Ingenlath suggested that the EV revolution was in danger of becoming a plaything for speculators which risks losing its focus on making the most significant contribution to climate change since the car was invented.

And he urged Polestar’s rivals to get their priorities straight by putting climate change before pushing for a sky-high market valuation.