Continued development in existing and new markets is driving substantial growth in
customer demand.
The Swedish company, which listed on the Nasdaq New York stock exchange in late June,
delivered approximately 21,200 cars in the first six months of 2022, more than doubling
deliveries from 9,510 cars in the same period in 2021 – an increase of almost 125%.
Global order take rose to 50,000 since the start of 2022, up more than 350% yearonyear,
as the company continues to see strong customer demand as well as booking the first
portion of Hertz orders. With this strong performance, Polestar reaffirms its full year target of
delivering 50,000 cars.
“It is great to see that the number of enthusiastic Polestar 2 customers is growing so quickly,”
says Polestar CEO, Thomas Ingenlath. “I am very confident that the strong momentum we
have seen this year in brand awareness and sales figures will accelerate powerfully in the
coming years as more groundbreaking cars are revealed.”
Polestar expanded its global presence during the first six months of 2022 from 19 markets
to 25, while the number of retail locations rose from 103 to 125 around the globe, with
approximately 30 more expected to open by the end of 2022. This increased retail presence
drove the number of test drives up by over 210%, a key indication of growing consumer
interest in the brand.
The company also announced that following prolonged government mandated COVID19
lockdowns in China during the first half of 2022, which delayed production of Polestar
vehicles, it is now pushing on with the introduction of a second shift in the factory in order to
recover some of the production lost earlier in the year, clearing the path for future growth.
The next major step for Polestar will be its entry into the SUV segment with the global launch
of the electric performance SUV, Polestar 3, in October. The SUV market is one of the
highest growth and margin segments in the automotive industry, especially in the United
States. Customers can expect to be able to order Polestar 3 on the day of the premiere in
October.
“Polestar 3 will stand out amongst other SUV offerings and boost our growth trajectory. It
also represents the expansion of our manufacturing footprint into the United States as we
become even more global. It is an important next step towards our goal of selling 290,000
cars in 2025 – ten times more than we sold in 2021,” concludes Thomas Ingenlath.
