Polestar CEO: ‘Pump anxiety’ replaces range anxiety as EV drivers’ main concern
May 14, 2026 – 8:20 pm
Polestar reported a widening Q1 net loss of $383 million on flat revenue of $633 million despite record deliveries.
According to Polestar CEO Michael Lohscheller, the shift from range anxiety to "pump anxiety" is driven by rising fuel prices due to the Iran war and Strait of Hormuz closure.
Lohscheller told CNBC’s Squawk Box Europe: "People are concerned, ‘how much do I pay at the gas station?’" He coined the term “pump anxiety” to describe this shift in consumer sentiment.
Since February’s strikes against Iran, oil prices have surged and the Strait of Hormuz has been effectively closed, significantly impacting global fuel markets.
In the EU, petrol breached €2 per litre in several markets, while UK average petrol prices rose over 25 pence per litre since early March.
These rising costs have led to a significant increase in EU EV registrations (up 51% in March year-on-year) and increased interest in EVs from consumers across Europe.
Lohscheller argues: "In the past, people considered EVs for idealistic reasons, and now the decision is all about money."
While US EV sales have risen, they haven’t yet seen the same dramatic spike as Europe, with Lohscheller attributing this to disappearing federal tax incentives and broader consumer uncertainty.
This shift in focus from range to fuel cost arrives at a critical moment for Polestar, which is under pressure despite record deliveries of 13,126 vehicles in Q1.