Porto, July 10, 2026 (Lusa) - The energy crisis caused by the conflict in the Middle East will accelerate the growth of electric cars in Portugal and across Europe, Michael Lohscheller, CEO of the Swedish company Polestar, told Lusa on Friday.

Speaking to Lusa, the company’s CEO said that “the only way is up”, noting that the markets and electric vehicles are “growing very much”.

According to the CEO, the energy crisis “will accelerate” this trend, which is also being driven by “improvements in charging infrastructure” and “increased range” in these vehicles.

He noted that there is “anxiety” about visiting petrol stations due to fuel prices, given the current instability, and that this ultimately benefits electric car brands.

Regarding incentives for buying electric cars, the CEO believes they are not decisive for the segment’s success.

“The most important thing is stability,” he emphasised, noting that “some markets in Europe change their incentives from one week to the next” and that this does not help.

“But, at the end of the day, the only solution for the transport sector is to move towards zero-emission mobility,” he stressed.

The brand already has three showrooms in Portugal and saw a 22% increase in the number of cars sold in the first half of this year, reaching 333 vehicles – a growth rate higher than the company’s global figure of 0.4%.

In 2025, the brand grew by 69% in Portugal, to 527 vehicles.

According to the company’s CEO, Portugal is currently among Polestar’s “top 15” markets.

Polestar has not disclosed financial figures for the Portuguese market, but globally the Swedish group closed the first quarter with sales of $633 million (€553.6 million).

ALN/AYLS // AYLS

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