Swedish electric car brand Polestar expects orders received to exceed 75,000 vehicles per year, having met its growth targets to date after having booked 32,000 orders for the Polestar 2 at the beginning of 2022, almost four times as many as during the same period of the previous year, and have penetrated 25 markets to date.
This has been indicated by the director of Global Sales of Polestar, Mike Whittington, who has indicated that currently the orders for the brand “are at all-time highs”. “We expect them to exceed 75,000 vehicles per year, which reinforces our position at a time when production is beginning to normalize,” he explained.
Regarding the entry into the SUV segment with the Polestar 3 and 4 models, the manager stressed that the production capacity for these two electric vehicles will exceed 160,000 units per year by 2025.
The brand, which will be listed on the Nasdaq through a concentration agreement with Gores Guggenheim expected at the end of June, accessed its twenty-fifth global market during the first half of the year, which represents a considerable increase compared to 2020, when it was present in ten markets.
Polestar has added six new markets since the beginning of 2022, including Spain and Portugal. The company also plans to start operations in Israel and Italy in the second half of 2022, thus strengthening its presence in the Middle East and Europe. Before the end of 2030, Polestar plans to have a presence in a minimum of 30 markets around the world.
“With a presence in 25 countries around the world, Polestar enjoys an excellent position in the specialist electric vehicle market. We are a reliable company that makes no empty promises,” said Polestar CEO Thomas Ingenlath.
New Polestar 3 and 4
Likewise, the expansion of the product range is also continuing with the Polestar 3 electric SUV, which will be presented in October 2022 and is the company’s first product for this market, which is in full expansion. The Polestar 3 will be followed by the Polestar 4 electric coupe SUV and the Polestar 5 electric four-door GT.
The Polestar 4, whose launch is scheduled for 2023, will allow the brand to enter one of the “most competitive segments of the market in terms of demand, performance and design”. The Polestar 5 is also in an advanced stage of development and will be unveiled in 2024. A prototype of this model will be shown in public for the first time during the Goodwood Festival of Speed from June 23-26, 2022.
Polestar already has close to 130 retail establishments worldwide and is confident of reaching 160 by the end of 2022. This will be helped by the opening of new Polestar Spaces and Polestar Destinations in new and existing markets, including cities such as London, Madrid, Tel Aviv , Reykjavík, Vancouver, Austin or Shenzhen, among others.