Not long ago, in an interview with TechCrunch, Thomas Ingenlath discussed his strategy to make Polestar a self-sufficient company. However, he has now stepped down.
Polestar announced on Tuesday that Ingenlath has resigned as CEO, a role he has held since the EV startup separated from Volvo in 2017. Michael Lohscheller, the former CEO of Opel, Vinfast, and Nikola, will take over his position.
This change in leadership comes at a critical time for Polestar, which has implemented layoffs and cost-saving measures recently.
As a publicly traded company, Polestar is striving to launch several new EVs amidst slower sales growth. Earlier this year, Volvo sold a significant portion of its stake in Polestar. To continue its EV initiatives, Polestar has secured a $1 billion loan from banks.
