With so many electric vehicle (EV) startups shooting up out of China, Polestar 's listing on the Nasdaq in 2022 had all the signs of success early on. Polestar's share price peaked shortly after it listed at around $13, but since that day in 2022 it has fallen 90 per cent to barely $1.

In grim signs for the company, there are also now concerns around it as a going concern – a fundamental accounting assumption that a business or entity will continue its operations into the foreseeable future, typically at least 12 months, without the threat of bankruptcy or liquidation.

"Uncertainty related to the execution of management's liquidity and funding plan indicates the existence of a material uncertainty that may cast significant doubt upon Polestar's ability to continue as a going concern,"

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