08:20 AM EDT, 10/11/2024 (MT Newswires) -- Polestar Automotive Holding UK ( PSNY ) said Friday that is was launching a review of operations to support further development.

The company will provide an update on its business and strategy in a live webcast on Jan. 16, 2025, including select Q3 financial and operational highlights.

The company said it intends to reduce Q3 reporting disclosures to focus company resources on the "ongoing business and strategy review and on fulfilling 2024 annual reporting requirements."

The update comes on the heels of delivery numbers for Q3 and the first three quarters of the year, released Friday.

Polestar delivered approximately 11,900 cars in Q3, taking total deliveries for the first three quarters of the year to 32,300 cars, down from 41,844 a year earlier. Polestar did not provide year-ago figures for Q3 deliveries.

Polestar also reaffirmed its goal of reaching cash flow breakeven near the end of 2025, but at volume that will be lower than expected.

Shares of Polestar Automotive were down 4.4% in recent premarket activity.

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