Polestar is launching Polestar Energy, a home-charging service designed to make charging its electric vehicles smarter, more efficient and less expensive. The service is already operating in some European markets, with expansion to additional countries planned for the second half of the year.

The initiative arrives as Polestar works through a difficult period for the electric-vehicle market. Chief Executive Officer Michael Lohscheller said the company’s return to profitability will take longer than expected, citing weaker EV demand and tougher competition. The comments were followed by an almost 14% decline in the company’s shares.

How Polestar Energy works

Polestar says Energy uses new charging capabilities through its app to help customers manage when and how their vehicles charge at home. The company estimates the service could reduce charging costs by around 30%.

One of the technologies involved is vehicle-to-grid, or V2G, which can allow compatible electric vehicles to interact with the power grid. Polestar did not provide further technical details about the hardware or the markets receiving the service next.

For owners, the offering gives Polestar a way to add value after the vehicle purchase. It also places more emphasis on the wider charging experience at a time when automakers are competing not only on vehicle range and performance, but also on ownership costs.

Polestar’s model and growth plans

Polestar’s wider recovery plan covers the 2025-2027 period. The company aims to increase sales by 30-35% and reach a positive gross operating margin in 2025.

To support those targets, parent company Geely will continue backing the brand’s development and model range. Polestar plans to increase production of the existing Polestar 2, Polestar 3 and Polestar 4, while also moving ahead with the Polestar 5 and Polestar 7.

The Polestar 7 is described as a compact premium SUV intended to become the brand’s best-selling model. The company is also accelerating its retail expansion, transforming its business operations and reducing its cost base.

What Polestar Energy means for the brand

Polestar Energy is part of a broader effort to make the brand’s products and services more competitive while Polestar adjusts to slower EV-market growth. The company is pursuing additional revenue and customer-retention opportunities without limiting its strategy to selling cars.

Its success will depend on how widely the service can be offered and how effectively it delivers the estimated savings in everyday use. For now, Polestar has confirmed only that the program is active in some European markets and that a wider rollout is planned for the second half of the year.