Polestar is reporting a 125% increase in electric car sales during the first half of 2022, delivering approximately 21,200 vehicles.
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Polestar (Chinese: 极星), a Swedish premium electric manufacturer listed on the Nasdaq New York stock exchange in late June, announced a robust performance for the first half of 2022. It delivered approximately 21,200 vehicles, doubling deliveries from 9,510 in the same period in 2021, suggesting an increase of nearly 125%, news portal Autohome Inc reported.
With the rapid development in existing and emerging markets, the company continues to witness substantial growth in customer demand. In this regard, Polestar reaffirms its full-year target of delivering 50,000 cars.
During the first month of 2022, Polestar expanded its global presence from 19 markets to 25. With the increase from 103 to 125 around the globe this year, retail locations are expected to be opened 30 more by the end of 2022. This growing retail presence stimulated more than 210% of test drives, which suggests growing consumer interest in the brand.
Polestar's next attempt is to enter the SUV segment with the launch of the electric SUV, Polestar 3, in October. Polestar 3 is a costly plug-in hybrid that the automaker announced they would bring as an all-electric "Tesla Model 3 competitor."
"Polestar 3 will outperform other SUV offerings and boost our growth trajectory. It is an important next step towards the goal of selling 290,000 cars in 2025, which are more than ten times in 2021." Polestar CEO Thomas Ingenlath said.