EV Penny Stocks List: From $10 to Under $1

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11. Polestar Automotive Holding UK PLC (NASDAQ:PSNY)

Number of Hedge Fund Holders: 10

Share Price as of April 16 2025: $1.03

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) is a Swedish electric performance car brand that manufactures and sells premium electric vehicles. It focuses on combining cutting-edge technology, sustainable design, and a commitment to improving society through electric mobility. Known for its performance-oriented EVs, the company is working to expand its product lineup as it targets compound annual retail sales volume growth of 30-35% from 2025 to 2027.

On April 16, Polestar Automotive Holding UK PLC (NASDAQ:PSNY) confirmed the termination of its strategic partnership with technology firm Xingji Meizu Group. The termination paves the way for the transfer of digital and other assets from the joint venture, which should allow Polestar to resume sales, customer service, and distribution in the Chinese market.

Polestar Automotive Holding UK PLC (NASDAQ:PSNY) remains committed to pursuing growth opportunities in the Chinese EV market as part of its long-term strategy for growth and innovation. The company is also pushing on its aggressive growth strategy that entails having five performance EVs by 2026. It’s on course to start production of Polestar 4 in South Korea in the second half of the year. It has also established a new production facility in Charleston, South Carolina.

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