Polestar Posts $304 Million Loss Amid Delays, Competition

Polestar Automotive Holding (NASDAQ:PSNY) posted another operating loss in the second quarter as the electric-vehicle maker struggled with software delays and intensifying competition.

While revenue surged in the UK and Sweden, it declined in key markets including the US and China during the three months through June, the EV maker said Thursday. Polestar, which is owned by Volvo Car AB and Chinese billionaire Li Shufu’s private investment company, posted a net loss of $304 million.

Polestar combined with special purpose acquisition company Gores Guggenheim Inc, raising $890 million in the process.

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Oklo Selected to Provide Clean and Resilient Power to Eielson Air Force Base

The Defense Logistics Agency Energy on behalf of the United States Air Force has issued a Notice of Intent to Award a contract to Oklo Inc. to provide power and heat at the Eielson Air Force Base as part of the Air Force’s micro-reactor pilot program. This project represents a significant stride towards ensuring a clean and resilient energy supply for critical national security infrastructure.

On July 11, Oklo and AltC Acquisition Corp. (NYSE: ALCC) announced that they have entered into a definitive business combination agreement that upon closing would result in the combined company to be listed on the New York Stock Exchange under the ticker symbol “OKLO.”