Polestar’s sales report for electric vehicles in the first half of this year more than doubled compared to the first half of last year. Polestar itself has just become a public company after its IPO some time ago.
Polestar on Wednesday said its first-half sales of electric vehicles more than doubled and remained on track to reach its full-year target.
Polestar, the Swedish EV manufacturer founded by Geely and Volvo in the first half of this year, has sold 21,000 electric vehicles, an increase of 125% over the same period last year at 9,510 units.
With the achievements in the first half of this year, Polestar is optimistic to meet the full-year target of delivering 50,000 electric vehicles.
“When it comes to order intake, we are on a very safe track to make the numbers that we’ve put out for 2022,” Polestar Chief Executive Thomas Ingenlath said in an interview. “Even now in July, we are already on safe ground with that.”
In May, Polestar lowered its target for electric vehicle deliveries by 2022 by 15,000 units. The decline in vehicle production targets was due to the COVID-19 lockdown in China causing supply chain disruptions for semiconductors and components widely used in EVs.
Last year, Polestar sold around 29,000 vehicles and is optimistic it can grow tenfold to 290,000 by 2025.
Polestar plans to launch one new electric vehicle model each year for the next three years. This year Polestar plans to launch the Polestar 3 electric SUV in October which will be built at Volvo Cars’ plant in South Carolina.
The Polestar 3 is the first Polestar electric vehicle to be produced in the United States.
The Polestar 4 SUV coupe is slated to follow in 2023 and the four-door Polestar 5 GT in 2024
