Polestar hits global target of 29,000 sales in 2021, plans to launch SUV in 2022
The Polestar 2 launched in Australia in 2021, ahead of customer deliveries in Q1 2022. Images: Polestar
Polestar is an automaker with one model — the Polestar 2 sedan — in its line up, and is less than five years old as a company. It has also overcome global supply chain shortages and the COVID-19 pandemic to deliver on its 2021 targets, achieving 29,000 sales for the calendar year, representing year-on-year growth above 185 percent.
The automaker is admittedly backed by some big players; Chinese conglomerate Geely Holdings and Volvo, and is eyeing an investment deal with Special Purpose Acquisition Company (SPAC) Gores Guggenheim Inc. in 2022.
Polestar increased its global presence from 10 to 19 markets in 2021, with growth in Europe and Asia Pacific. In the first half of 2022, Polestar plans to add Spain, Portugal and Ireland to its European market footprint, and enter the Middle East with presence in the UAE, Kuwait and Israel. By the end of 2023, Polestar aims to be operating in at least 30 global markets.
Polestar launched its brand in Australia late in 2021, with media events and customer test drive pop-up locations. Customer deliveries are expected to commence in the first half of 2022, and retail “Spaces” will also be opened in prominent metropolitan areas.
Polestar now has over 100 retail locations globally, and expects to increase that by 50 percent by the end of 2022.
“We are delivering on our targets,” says Thomas Ingenlath, Polestar CEO. “It is a hugely exciting time for the brand, with new markets and models to support the ambitious growth plans we have set for ourselves. Thanks to the relentless dedication of Polestar employees across the globe, we are progressing with confidence towards our proposed public listing.”
Mike Whittington, Polestar’s Head of Sales, adds: “With strong new market launches and the fantastic reception of an expanded Polestar 2 model line-up, we have seen interest in Polestar and vehicle sales increase in all our markets. Our order intake is strong and we are looking forward to further growth in our sales volume again in 2022.”
In 2021, Polestar also announced its plans to launch three new cars in the coming three years. Polestar 3, a premium electric performance SUV, is set to launch in 2022 and will be the first Polestar to be built in the US (in Volvo’s Ridgeville, South Carolina factory). Polestar 3 will benefit from advanced technologies from Luminar (LiDAR), Nvidia (GPUs) and Zenseact (autonomous technology) that will provide cutting-edge unsupervised autonomous driving functionality according to the company.
The Polestar 3 SUV will be revealed in 2022, and should become the brand’s biggest seller.
