Polestar elevated gross sales of its electrical automobiles by 125 p.c to 21,200 throughout the first half, almost matching its full-year quantity from final yr.
The Volvo Cars EV subsidiary, which joined the Nasdaq final month in an $890 million deal, bought 29,000 automobiles final yr and goals to extend that whole to 290,000 by 2025.
Despite the sturdy first-half numbers, the Tesla Inc. rival nonetheless expects to fall 15,000 models wanting its gross sales goal of 65,000 this yr, blaming the hit on COVID-19 lockdowns in China, the place it produces its solely mannequin, the Polestar 2.
“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 ground-breaking cars are revealed,” Polestar CEO Thomas Ingenlath, who will converse on the Automotive News Europe Congress on Thursday, mentioned in an announcement.
Without offering specifics, the corporate mentioned that its order ebook its getting a raise from its cope with rental automotive agency Hertz Global Holdings, which introduced in April it will purchase as much as 65,000 Polestar EVs over 5 years.
To assist get well misplaced quantity, Polestar has launched of a second shift at its manufacturing facility in Luqiao, China. The firm mentioned it’s assured it can hit its supply targets beginning subsequent yr.
A key a part of reaching its 2023 purpose — 124,000 world gross sales — is the arrival of the Polestar 3 premium massive SUV, which could have its world debut in October.