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Polestar adds Luminar lidar to 3 SUV pre-orders, confirms it’s coming to Polestar 5 GT as well
Scooter Doll
| Feb 2 2023 - 4:00 am PT
20 Comments
Automotive safety and autonomy specialist Luminar Technologies announced that EV automaker Polestar intends to deepen its partnership with the former by implementing its long-range Iris lidar into the upcoming Polestar 5, based on the Precept concept. Additionally, the automaker has enabled consumers pre-ordering a Polestar 3 SUV to add the Luminar lidar to their configuration starting today.
The Polestar 3 is scheduled to begin deliveries in Q4 of this year after officially debuting last October. It will be the first SUV from the all-electric brand and its first model built on US soil, although initial deliveries will come from China.
Before the official unveiling, Polestar ($PSNY) teased us with some tidbits surrounding the 3 SUV, including its expected range and availability to order. One feature that Polestar was sharing as early as last summer was that the 3 would eventually offer autonomous highway piloting by utilizing Lidar sensors developed by Luminar ($LAZR) and centralized computing by NVIDIA.
Luminar’s advanced lidar technology is prominent in the upcoming EX90 from Polestar co-owner Volvo Cars, which is selling the all-electric SUV as the safest vehicle it has ever produced.
During the official 3 launch, Polestar again mentioned a Pilot Pack add-on coming in Q2 of 2023 that will include lidar. Thanks to high demand for the technology, Polestar has bumped up the availability to pre-order this option while confirming an expanded relationship with Luminar to implement lidar into future EVs.
Credit: Polestar/Luminar
You can now pre-order your Polestar 3 with Luminar lidar
According to Luminar Technologies, sales of the Polestar 3 equipped with its long-range Iris lidar have been moved up to today for customers in North America and Europe. While Polestar 3 deliveries are still on schedule for Q4, the automaker makes a point to share that deliveries of those EVs equipped with Luminar’s lidar tech are expected to arrive in 2024.
In addition to the Polestar 3 news, Luminar has confirmed that Polestar intends to deepen its partnership and integrate lidar technology into its Polestar 5 GT, expected to launch sometime in 2024. This is truly just a confirmation of a planned integration mentioned by Polestar CEO Thomas Ingenlath in December of 2021, when the automaker laid out its plans for a new EV model every year through 2025.
At the time, Ingenlath said the lidar sensor won’t protrude from the windshield as much as it does on the Precept concept EV it is based upon, noting that the technology would be supplied by Luminar. The Polestar CEO shared additional thoughts following today’s confirmation of the collaboration:
Polestar 3 orders including lidar are available in Europe and North America today followed by Australia later this month and China by mid-April.
GET A CLUE! Watch & LEARN... Tesla now has LITTLE to do with the EXPANSION of the EV markets going forward... (the broader growth will come from competitors) & GAS PRICES (along with inflation, etc.) WILL HAVE more of a bearing than folks realize! It's the ECONOMY.... (".....") ...
Gas prices (& inflation) will be the single most important factor in near-term growth... Mark it!
Gas prices have nothing to do with an EV stock like Polestar. When they are done unloading they will run this. Gas had nothing to do with Tesla. Polestar has been beating all their forecast and its not moving.
The ONLY QUESTION NOW is if gas prices rise AGAIN & this stock NEVER LOOKS back at sub-$6.00 shares. I suspect & AM GOING ON RECORD to PREDICT that post-Q1 performance will SURPASS EXPECTATIONS & the stock will CLIMB from WHEREVER it is ... AND that if gas prices remain somewhat elevated (despite a milderish Winter), we'll be saying GOODBYE TO $5's, perhaps forever!
GLA!!
JUST KEEPS GETTING BETTER!! If gas climbs up again, especially NOW with the U.S. essentially escalating engagement in/with Ukraine vs. Russia, we could see MUCH HIGHER prices here VERY SOON.
Looking forward to an IMPORTANT Q1 & then double-digits from there IF gas prices remain elevated & AS the market wakes up to take note!
This piece of shit really needs to move and fill the old gaps. Technically the financials are excellent etc. Just bear market and sick devil worshiping TAs and hedge holding everything back.
This is going to light up soon, methinks
JUST AS I PREDICTED!! Keep your eyes on gas prices. As they creep back up (which they have) so too will BOTH the sector & THIS STOCK!!
If that trend continues into Q1 report, we should be testing recent highs QUICKLY & decisively; as I've laid out in my previous post(s), etc..
GLA.... Happy 2023!!
VOLVO & FOXCONN are KEY here! As well as the LEADERSHIP! PSNY management are EXECUTING! And this will be far more evident come the end of the year. Q1 will begin to set the POSITIVE tone & tenor for this EV & then it's OFF TO THE RACES! Assuming gas prices continue trending another $0.25 to $1.00 makes THE WORLD of difference to consumers!
Here's WHY strategically: POLESTAR is alone with TESLA
SALES surpassing inventory,.... & backlog delivery is AHEAD OF SCHEDULE!!
2023 Model -- COMING THIS YEAR!!!
Wonder if it will RE-TEST $5.00 BEFORE starting it's next leg UP?
Love the new Electric SUV & that each year -- going forward -- a NEW model is set to debut.
If gas prices remain north of the National Average continues to climb, as I've suggested it may:
Period Regular Mid-Grade
Current Avg. $3.285 $3.686
Yesterday Avg. $3.260 $3.664
Week Ago Avg. $3.159 $3.571
I think it's ACTUALLY WORTHWHILE to do a chart & OVERLAY the price of GAS on the sector AND this stock! Unless PSNY can make Polestar cars a STATUS SYMBOL, which the NEW Polestar 3 very well might become; then ALL BETS are off.
That is kinda what I'd be relying on here as a longer-term investor. The performance of that EV to the company is THAT important imv. So far, so good. The preliminary numbers & orders appear to be ON POINT:
Stocks go UP & they go DOWN.... The put options came in hard & heavy after we went above $8.15 (along with the OTHER technicals) suggesting that ~$8.25 price was THE (double) TOP (in the short term)!
NONE of that changes longer-term sentiment here. Where the ONLY real, practically tangible, & potential longer-term THREAT imv is gas prices. Folks aren't incentivized to GO GREEN when gas is cheap! And btw, NOT that gas is cheap right now, but the U.S. gov't released a crap ton of strategic reserves (probably to ENSURE folks can SHOP for the Holidays!) dropping gas prices from a National Average around $5.00 per gallon to around $3 or so. IMV gas prices DO THREATEN the short-term prospects of the industry
But unless Putin (& OPEC) stop messing around, folks should EXPECT gas prices to RISE again (post New Year) & with that this sector should heat UP again... ESPECIALLY if Polestar continues to outperform, as expected (according to their shipping numbers, etc.)... Q1 should be healthy & the stock price should therefore REBOUND...
GL
PS: This is NOT financial advice & ANY position in a stock should be FLUID!! In order to roll with the punches, protect capital & (as the pros would say) "live to fight another day". So I am NOT advocating ONE WAY or ANOTHER!! Everyone to do with their money as THEIR goals, fiscal needs, retirement future, etc., & investment needs dictate; mine is JUST an opinion. On the other hand a chartist or technical analyst will SIMPLY suggest the stock hit a near term peak, got overbought, was sold off (profit taking) & is now getting oversold before it CORRECTS again. Whichever side of the fence you live & breathe, the markets are dynamic & investors should be as well. GL2U
So WTF is wrong with this? Oh please explain. After every good financial improvement PS has someone hmmm unloads.
As EXPECTED!! Just a VERY NICE move trading UP from our little dip-a-rooni after quite a bit of profit-taking no doubt -- & aided by a teeny-bit of short-covering after they realized it was NOT going sub-$5
LOVE THIS STOCK!!
PSNY
Nice loading dip yesterday & PSNY looks to be BACK & HEADING UP again!
Nice, healthy consolidation,... & positive pre-market action!
GEARING UP for 2023 folks! Going to be a great one!
TESLA Production is 343,000 EV’s worldwide for 2022 . Correct me if I’m wrong ! POLESTAR 50,000 . In 2023 100k and by 2025 290k EV’s. A 50! Billion Market is well deserve by end of 2023 . $45.00 PPS by end of 2023 .
This blogger from Seeking Alpha has a good article hitting 80% of predictions in the past 3 years in the energy sector. PSNY to $18
https://seekingalpha.com/article/4560565-polestar-automotive-undervalued-strong-growth-momentum
With ~15min to market close today it's PERKING-UP off the day's double-bottom!
NICE STRONG VOLUME to the upside
with tiny volume capitulation to the downside
STOCK IS BEING BOUGHT UP!!
Love to see the way this one is trading.... On the NEXT WEEK then!
Added some cheap OPTIONS at the lows today too!
POLESTAR for the win!
GROSSLY UNDERVALUED.... See for yourself, why, here!
Citigroup BUY-rating w/ $12.00 PT = 50% increase from today's level
GET TO KNOW POLESTAR
$PSNY $10 soon
$PSNY EARLY DAYS!! $8's PRINTING!!
GET READY FOR MORE UPSIDE in the coming days...
Shorts be like:
https://giphy.com/gifs/wwe-wrestling-smackdown-friday-night-jqI7vrTgA1An4pi4k8/fullscreen
Citigroup initiates coverage -- $12.00 Price Target
$20.00+ stock in 2023
Too bad! So sad! It was a GREAT FIGHT, & GOOD EFFORT. BUT THE BEST MEN WON!
https://giphy.com/gifs/wwe-wrestling-smackdown-friday-night-jqI7vrTgA1An4pi4k8
UP from $7.27 Wed morning!! Thank you shorties! LMMFAO!! I had NO BUSINESS buying this down here.
BEST IS YET TO COME!!
By the time Foxconn starts production Polestar will be way ahead of the competition. PSNY will mass produce 100K EV’s in 2023 while Foxconn or LMC may have under 5k EV’s delivered in 2023.
Good luck ! Polestar 50k EV’s in 2022 . Rivian 25k , LUCID 7k . RIDE 30 trucks . Look at the market cap same as Rivian and Lucid. PSNY is the only EV company besides TESLA that is mass in mass production.
I'm out. Float is full at 2.11B To many shares out.
Shorts got CLEARED OUT, NOW BACK UP to our previously scheduled RUN !!
Polestar Automotive Holding PSNY 3Q 2022 Earnings Conference Call
Polestar Automotive Holding PSNY 3Q 2022 Earnings Conference Call
Polestar (PSNY) Stock Surges After Reaching Major Production Milestone
Yet again, Polestar has proven it can compete with its Europe's legacy automakers
9m ago · By Samuel O'Brient, InvestorPlace Financial News Writer
An announcement from Polestar Automotive (PSNY) is pushing PSNY stock up today.
The Swedish electric vehicle (EV) innovator has reached a production milestone.
This news could set Polestar on a path toward profitability in the coming year.
BUY ALERT: 5 Hypergrowth Stocks With 10X Potential in 2023
PSNY stock - Polestar (PSNY) Stock Surges After Reaching Major Production Milestone
Source: Robert Way / Shutterstock.com
Electric vehicle (EV) stocks are up today as positive market momentum pushes the Nasdaq composite higher. While Tesla (NASDAQ:TSLA) and Rivian (NASDAQ:RIVN) have pulled into the green, one of their peers has an actual growth catalyst to report. Polestar Automotive (NASDAQ:PSNY) started the day by announcing that it has reached a key production milestone. PSNY stock is up 20% on the news.
Specifically, the company has generated 100,000 Polestar 2s. This popular model has helped the Swedish automaker secure a share of the EV market. More compelling than PSNY stock’s rise today is the fact it has surged more than 87% in the past month. This has been spurred by a recent announcement that Polestar saw its first gross profit since making its trading debut.
Even with the month’s impressive gains, it still trades at less than $8 per share. This makes it a highly attractive bet for investors seeking EV market plays. Let’s take a closer look at why it may be one of the breakout EV stocks of 2023.
Why PSNY Stock Has Room to Grow
It’s an excellent time to be a part of Europe’s EV market. Recent data reveals it grew by 16% year-over-year (YOY) in the second quarter of 2022. Legacy automakers Mercedes Benz (OTCMKTS:MBGYY) and Volvo (OTCMKTS:VLVLY) have led the charge so far, but Polestar is making it clear it is coming for its larger rivals. PSNY stock has been volatile today, but investors shouldn’t lose sight of the bigger picture. The trendy startup is expanding rapidly and working hard to compete with Europe’s auto giants.
As Polestar noted in a statement it released today, it has taken only 2.5 years to reach 100,000 units of the Polestar 2. It achieved this feat while supply chain constraints threatened EV production on a global scale. Through it all, the company has continuously upgraded the vehicle, adding over-the-air (OTA) updates, an extended charging range and “eco climate function and battery preconditioning optimisation.” While innovating its EVs, Polestar has also expanded its reach to 27 countries. It clearly has no plans to slow down in the coming year.
InvestorPlace contributor Chris MacDonald recently made a bullish case for PSNY stock, breaking down why he believes it has significant growth potential. In his words:
“Compared to the same quarter last year, its sales were up by 105%, amounting to $4 million gross profit. Moreover, driven by rising sales in Q4 2022, Polestar estimates to generate $2.4 billion from the sale of its vehicles. This company is also set to release the Polestar 4 SUV, the Polestar 5 grand touring sedan and the Polestar 6 roadster in the years to come.”
As MacDonald also notes, Polestar had more good news to report recently. It began November by announcing a new funding package of $1.6 billion from stakeholders Volvo and Geely (OTCMKTS:GELYF). As CEO Thomas Ingenlath notes, this puts Polestar well on track to accomplish its goal of releasing three new EVs by 2026.
Today’s production news only serves to strengthen the bullish case for PSNY stock. Polestar is well-positioned to keep scaling production and meeting demand as markets prepare for a correction."
https://investorplace.com/2022/11/polestar-psny-stock-surges-after-reaching-major-production-milestone/
I'd like to see them get their profit margins up a bit but I'm THRILLED that they've made huge strides, have mass production up & running, they're selling units, had a gross profit, sold 100,000 P-2's, & the market CRUSHED THE STOCK to where buying it was a low-risk HIGH-REWARD proposition.
The forthcoming $84,000.00 Polestar 3 will have better margins.
Should oil prices continue.
Folks CHOOSE NOT to support oppressive regimes.
Countries like Russia, & their dependence on OIL to fuel WAR!
Regions of the World like the Middle East whose WEALTH depends upon OIL & other countries who RELY ON OIL & remain inhumane to their citizenry....
EV's can be viewed as a VOTE to move the planet into a more sustainable future.
There seems to be a GROWING sentiment among Millennials to pay more upfront to move in this direction, away from oil dependence & the REGIMES they support!
Looking forward to comparing the institutional numbers at the end of the week. I think we'll find there's been some BIG MONEY who have a longer-ish term interest here! That's GREAT for us! I was going to trade OUT of my position into cash (from options) & wound up trading the time (eow expiry) & profits for MORE STOCK. So instead of trading out -- I added!
Let's see how wise that was! But I have more funds available in case I want more too! We'll see how this goes. So far, so good!
Wallstreet underestimated Polestar by shorting and it’s pay back time. Just go back to June 2022 PPS was at $13.00 . This should be back to double digits soon. IMO
Sure looks like it! How do like her now?
Closing nicely eh?
Is $10.00 next
& how far off is ATH of $16.41 I wonder?
$PSNY
I agree! $16.41 high is nearly $10.00 higher than where folks could buy this today!
And still a FAT ~$9.00 away from current ~$7.50
It's always a BEAUTIFUL THING to see these cars on the roads, humming along!
And if GAS PRICES in the U.S. & abroad remain elevated, their sales might accelerate further as folks shun gas for good in favor of cheaper electric & forego funding regimes upon whose OBSCENE WEALTH & humanitarian ABUSES are based upon OIL.
Russia for one....
We KNOW there are MANY OTHERS!
Electric for the win-win-win!
Their NEW model is sick! https://www.cnbc.com/2022/10/12/polestar-unveils-84000-electric-suv-polestar-3-to-cement-us-foothold.html#:~:text=The%20new%20Polestar%203%20is,the%20U.S.%20in%20mid%2D2024.
I read eoy 2023 for 2024 delivery! These guys aren't clowning around either. They are GETTING AFTER IT!
And after seeing a 60% drop in shareholder value, & nearly 80% from historic highs it's no surprise to see this rebound. Most NEW price targets have the stock around $10.00-$12.00 in the near term. Still plenty of upside imv. And if they continue to EXECUTE (like a Unicorn in this space), we could see NEW all-time highs (as you said) here in the New Year! Capital gains... or trade. Either way = PROFITS!
50k Polestars delivered in 2022. This is what I called mass production. 2023 will be a much better year and should be able to reach all time high of $16.00 .IMO
Looks like short-interest stepped in, trying to rattle some cages. Makes sense with the UPS, but they're ONLY ALLOWING more cheap BUYING (from my pov)! This is going much higher.... & unless they're accumulating, they'll be HYPER-fueling the ascent.
The flipping & SHORT-interest agenda is more evident here with their scare tactics, rhetoric & transparent agenda/commentary:
https://stocktwits.com/symbol/PSNY
Sorry to hear sky. Bought my last tranche 3600 @ $7.63 & have ONE REMAINING order for 3,500 shares at $7.50
Having initiated my first buys in the $4's I am HAPPY to add & average up!
Would NOT be SURPRISED to see this guy double ++ in the coming New Year!
Looking forward to it. Love their designs, profitability, execution & steady-as-she-goes leadership. And unlike MANY OTHER E-entrants, the Swedes are getting the job done here & EXECUTING!!
PS: Exchanged Fri-expiry OPTION PROFITS for the REAL DEAL shares! Couldn't help myself as this one heads to $10.00+ in the very near term. And if she hangs around here I'll fill up the ole RothIRA for good measure. That's how BULLISH I am on PSNY... Soon everyone else will catch-up but I suspect the price will be MUCH HIGHER than it is now!
This is the only EV that is up last week and now today . 20 billion market cap soon here.
I’m in @$5.66 got in yesterday and already up 10% . This is most likely going to be the next Tesla or close to it. Market cap around 6 billion now . In 1023 PSNY should be a 20-30 billion market cap. $20-30 PPS in 2023.IMO
I took large positions in this SPAC before the merger. Polestar has to follow through with advertising now. We are not a mustang, we are different.
The target is 120k vehicles for 2023 . If Polestar can meet this target then they will be profitable and PPS should go back to all time high of $16.00 in 2023. IMO
This could be the next Tesla in the next couple of years once they have 3-4 new models out and are mass producing in 2026-2027 and now 50K Polestars for 2022 . 2023 targets ? 100k ?
I bought 8 9 10s I should have bailed before everything went to shit but I was caught up in a family crisis.
Well, hope if found the bottom. I got in at $4.02 and if it back down even close to that, I'm pulling out.
What a piece of shiate this SPAC turned into
What???? Just saw a Polestar 2 commercial during the Yankees Astros game tonight! Hmmmm
CHECK OUT THE BARGAIN WARRANTS / CASHLESS OPTION FOR CONVERTING WHEN CALLED BY POLESTAR
https://www.reddit.com/r/GGPI/comments/vsop19/psny_warrant_redemption_prices_and_conversions/
Chart looks depressing
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