Luxury electric car maker Polestar is aiming to sell 50,000 units of electric vehicles. This means it needs to sell 20,000 units in the fourth quarter. However, annually, the target is less than the initially planned 65,000 units. In the fourth quarter, having 20,000 units could mean a significant record for the company.
The company announced its third quarter of 2022 of 9,215 units. It delivered 30,400 units of plug-in electric cars in 2022, from January to September. Implying that the automaker’s average sales are 10,000 units of plug-in electric cars. Considering the target in the fourth quarter, Polestar claimed that achieving the 20,000 units of sales milestone in the fourth quarter is possible. It is also claimed that the majority of cars are set for delivery in the current quarter and are ready, which means they have been either produced or are in transport currently.
Polestar CEO Thomas Ingenlath said that the automaker needs to catch up on production after Covid-19-related setbacks in China, and it has already done so. He further said, “We needed to catch up on production after Covid-19 related setbacks in China and we have. The majority of Polestar 2 cars are set for delivery in Q4 and are ready and making their way to our customers in 27 markets around the world, with the fourth quarter set to be our strongest on record yet. I am confident we will meet our target of 50,000 cars for this year.”
There are just days left until the debut of the upcoming Polestar 3, which will be based on the SPA2 platform, just like the Volvo EX90 model. Both models will be produced at Volvo’s plant in Ridgeville, South Carolina (the Polestar 1 and Polestar 2 are imported from China). The company intends to accept orders right away, from October 12 on.
Polestar’s main product is the all-electric Polestar 2, but in the coming years, it will be expanded by several additional models. As production rallies in China, Polestar’s financial gains should proceed concordantly. We will know for sure on November 11 when Polestar shares its Q3 financials and even more in 2023 when we see its 2022 report.
Despite its status as a relatively young EV automaker, Polestar continues to demonstrate steady growth and brand awareness, built around a company ethos wholeheartedly focused on sustainability, dressed in some of the most unique stylings in the industry today. There’s a reason why Polestar’s head of design Maximilian Missoni continues to win awards in his field, and his aesthetic fingerprints should be even more prominent on the next three Polestar EVs to reach deliveries next, beginning with the Polestar 3 in early 2023.