General

Polestar did quite well in the first half of 2022

Polestar did quite well in the first half of 2022

In a recent press release, Polestar announced it had some pretty good numbers for the first half of 2022. Vehicle deliveries were up 125% and the company has a long list of people with orders.

“It’s great to see the number of eager Polestar 2 customers growing so quickly,” says Polestar CEO Thomas Ingenlath. “I am confident that the strong momentum we have seen this year in brand awareness and sales will accelerate vigorously in the coming years as more groundbreaking cars are unveiled.”

During the first six months of 2022, Polestar expanded its global presence from 19 to 25 markets and added nearly 30 additional stores worldwide, indicating significant consumer demand for the brand. The number of test drives increased by more than 210% as a result of this increased retail presence, an indicator of increasing consumer interest in the brand.

Interest and activities in new markets are one thing, but selling is another. The Swedish company, which debuted on the Nasdaq New York stock market in late June, has already shipped about 21,200 vehicles in the first six months of next year, compared to 9,510 cars in the same period last year – an increase of nearly 125%. So Polestar is not just talking here. It gets results.

Polestar also wants to let us know that since the beginning of 2022, cumulative global purchases have increased by nearly 350% as the company has seen strong consumer demand, including orders from Hertz. This number looks impressive, but when we look at the supply chain and delivery challenges that every automaker faces, getting orders is partly a question of demand and partly because cars can’t be delivered. But getting people to order who would otherwise drive off the site does show a heightened interest.

With these numbers, Polestar says its outlook for 2022 is on track and reaffirms this to investors.

The next step for Polestar is the worldwide debut of the electric performance SUV, Polestar 3, in October. The SUV market is one of the most dynamic and profitable sectors in the automotive industry, especially in the United States. Customers can expect to purchase Polestar 3 on the day of its premiere in select markets.

“Polestar 3 will stand out from other SUV offerings and drive 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 by 2025, ten times more than we sold in 2021,” said Ingenlath.

Polestar is a Swedish company that designs and builds electric vehicles. Polestar’s headquarters are in Gothenburg, Sweden, and its cars are now on the road in European, North American, Chinese and Asian Pacific countries. By 2023, Polestar aims to have its cars available in 30 different markets. In China, Polestar is a joint venture between Volvo Cars and Geely Holding.

Polestar has produced two electric performance cars. The Polestar 1 was built between 2019 and 2021 as a low-volume electric performance hybrid GT with a carbon fiber body, producing 609 hp, 1,000 Nm and an electric range of 124 km (WLTP) – the longest of any hybrid car in the world. world at that time. The Polestar 2 electric performance fastback is the company’s first high-volume all-electric vehicle. The Polestar 2 model range includes three variants with a combination of long and standard range batteries up to 78 kWh, and twin and single engine powertrains with up to 300 kW / 408 hp and 660 Nm.

Featured image of Polestar.


 

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