Polestar (PSNY) loses its CEO as two electric SUVs hit the market [Video]

Polestar (PSNY) just got a new CEO. Thomas Ingenlath is out, and Michael Lohscheller is taking the helm as the Swedish EV brand enters its next growth stage. With two new electric SUVs hitting the market, how will Polestar navigate the transition?

“I am very proud of what we’ve achieved together in the last seven years,” Ingenlath wrote Wednesday.

After turning its vision of becoming an electric premium brand with performance and design at its core, Polestar’s former leader declared, “The dream became reality.”

Meanwhile, Ingenlath is leaving the company at a critical point. Many automakers have slowed EV investments, citing “slower-than-expected” demand just as Polestar launches two new electric SUVs.

Polestar launched its first all-electric vehicle, the Polestar 2, in 2020. This year, two new EVs are joining the lineup.

The company delivered the first Polestar 4 modelsin Europe earlier this month, and North America and Australia will follow by the …