Polestar is on track to hit its 2022 delivery target with Q4 gains

Polestar confident that it will be achievable Its remade target of 50,000 deliveries this year, with a big push expected in Q4 to get it up and running.

The Swedish-Chinese electric vehicle (EV) maker delivered about 9215 vehicles in the third quarter of 2022, bringing the number to about 30,400 so far.

During the final quarter (Q4) of 2022, Polestar expects to deliver around 20,000 vehicles it needs to be able to meet its goal of 50,000 global vehicles for the year.

That Q4 target will more than double the number of vehicles delivered in the third quarter of this year.

Polestar is cut back Its global annual delivery target in May, from 65,000 to 50,000 partly due to the COVID-19 lockdown in China.

“We needed to catch up with production after the COVID-19 related setbacks in China and we did,” said Polestar CEO Thomas Ingenlath.

“The vast majority of Polestar 2 vehicles scheduled for delivery in Q4 are already in the hands of our customers in 27 markets around the world, with the fourth quarter recording our strongest quarter yet.”

“I am confident that we will hit our goal of 50,000 vehicles this year.”

Polestar is expected to release details of its operating and financial results for the third quarter of 2022 on Nov.

In the local market, Polestar has sold a total of 779 forklifts through the end of September, according to VFACTS registration data.

September sees 85 Polestar 2 models sold, making it the fifth best-selling electric vehicle in record sales month.

It was sold out by Tesla Model Y (Sales 4359), Tesla Model 3 (Sales 1610), MG ZS EV (185 sales), Hyundai Ioniq 5 (140 sales), and Electric Hyundai Kona (124 sales).

Australia is considered an important launch market for Polestar. It’s currently offering the Polestar 2, but a bunch of future products it’s set to unveil are all on the way.

Company recently announced plans to open Australia’s flagship ‘Space’ at Melbourne’s Chadstone Shopping Center this summer.

This will complement existing Spaces in Sydney, Brisbane, Melbourne, Perth and Hobart, but is seen as a more permanent solution.

Polestar also has bold expansion plans. They want to launch a new model every year between now and 2024 and will expand to 30 markets by 2030. They also plan to increase sales from 29,000 units per year to 290,000 units per year by 2025.

On October 13, Polestar revealed Polestar 3 The SUV will be built on a version of the new electric architecture set to serve as the foundation for Volvo EX90 SUV car.

Less Polestar 4 the crossover is set to be revealed in 2023, and Polestar 5 The four-door GT will debut in 2024 – giving birth to the Polestar Precept concept car.

Polestar also recently announced that they are building a production version of the O2 . conceptcalled Polestar 6will be released in 2026.

Polestar is a Sweden-based venture company run by Volvo and its Chinese parent company Geely Holding, and was listed on NASDAQ earlier this year following the SPAC IPO.

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