Production of Polestar 3 and Volvo EX90 pushed to 2024 to develop software
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Swedish automaker Volvo and its subsidiary Polestar have announced delays in the production and delivery of their highly anticipated vehicles, the Volvo EX90 and Polestar 3.
Originally scheduled for release in 2023, the production start date has been pushed to the first quarter of 2024. The companies attribute the delays to the additional time needed for software development and testing, aiming to ensure a high-quality vehicle introduction and maximize customer benefit from the advanced technology.
Polestar's delays
Polestar, which achieved record first-quarter deliveries with strong commercial momentum, recently received notification of the need for additional time in final software development, according to a company release. This delay in the production of Polestar 3 is now expected to be in the first quarter of 2024. However, the start of production for Polestar 4 remains the same, which is still anticipated for China in the fourth quarter of 2023 and early 2024 for other markets. To manage the challenges, Polestar is intensifying its focus on cost management and driving greater efficiencies across the business through a hiring freeze and a 10 percent reduction in the workforce.
Impacting Volvo
The delays have affected Volvo's EX90, which represents a new era for the company with its introduction of advanced hardware and software technology, Volvo announced. The high demand for the vehicle necessitated additional software development and testing time to ensure a high-quality customer experience from day one. Consequently, production is now expected to begin in the first half of 2024.
Software development issues
The delays in the production of both vehicles are linked to software development issues with the new all-electric platform shared by Volvo Cars. While the companies work to address these challenges, the exact implications for deliveries to specific markets, including Australia, are yet to be determined. Customers eagerly awaiting the Polestar 3 and Volvo EX90 must wait for revised timelines to be announced.
The setbacks have forced Polestar to revise its global volume forecast for 2023, expecting between 60,000 and 70,000 vehicles, a decrease from the previous forecast of around 80,000 units. However, the successful launch of Polestar 4 last month provides optimism for the company's growth ambitions and a path toward profitability.
In summary, Polestar and Volvo have encountered setbacks in the form of production delays for the Polestar 3 and Volvo EX90. Software development challenges have necessitated additional time, pushing the start of production to the first quarter of 2024. The companies are focused on managing costs and maintaining their growth ambitions while striving to deliver high-quality vehicles that meet customer expectations.
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