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Polestar’s EV order bank is expanding rapidly, looks set to boost production

Polestar’s Orders jumped 350% in the first half of 2022 compared to the same period last year. The next challenge is to deliver them in a timely manner.

The The Swedish-Chinese electric vehicle startup is now publicly traded – Volvo and Geely remain the main shareholders – says they have taken 50,000 orders for the Polestar 2 sedan since early 2022, including the first part of a large fleet deal with the rental company Hertz.

That number, 50,000 vehicles, is also the number of vehicles expected to be delivered to customers for the entire year. In other words, the bank’s first half order of the year is equal to its full year target, potentially bad news for those looking to order…

The company said it plans to add a second shift to its factory in China (where Australia gets the cars), “to restore some of the production lost earlier in the year, clearing the way for future growth.” .

Polestar also said it delivered 21,200 finished vehicles worldwide in the first half of 2022, up from 9510 in the same period last year.

That figure includes 562 cars in Australia, where Polestar 2 is the third best-selling electric vehicle on the market behind Tesla Model 3 (4653) and Hyundai Kona (570).

Polestar has increased its global presence in the first six months of 2022 from 19 markets to 25 markets, while the number of retail locations increased from 103 to 125, with around 30 more expected to arrive. open at the end of 2022.

It said this increased retail presence has resulted in a 210% increase in test-drivers, “a key sign of growing consumer interest in the brand”.

“It’s been great to see Polestar 2’s enthusiastic customer base growing rapidly,” said Polestar CEO Thomas Ingenlath.

“I am very confident that the strong momentum we have seen this year in terms of brand awareness and sales figures will accelerate in the coming years as more groundbreaking models are revealed.”

Next to The Polestar 3 SUV is teased a lotwill share bones with the Volvo XC90 successor and launch in October 2022.

Smaller Polestar 4 crossover set for 2023 and Polestar 5 GT four-door coming in 2024 – bringing the Polestar Precept concept to life.

Polestar says it wants to produce a truly climate-neutral vehicle by 2030.

“It’s an important next step towards our goal of selling 290,000 cars by 2025 – 10 times more than we’ll sell in 2021,” concluded Mr Ingenlath.

THAN: The Polestar Brand Overview and What’s Next
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