Polestar has reported record sales for the first four months of 2022 but expects to deliver fewer vehicles this year than originally expected.
The Swedish electric car manufacturer sold 13,600 vehicles in the first four months of the year and secured nearly 23,000 orders, more than triple during the same period in 2021.
Polestar had originally intended on delivering 65,000 vehicles to customers this year. However, supply chain constraints mean it has reduced that forecast down to 50,000 units, noting the change is “100% attributable to the lockdowns in China.”
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In a statement, the company said that it is accelerating the introduction of a second production shift at the Polestar 2’s factory to recover some of the production loss later in the year.
“We promised growth and we are delivering on that promise,” chief executive Thomas Ingenlath said. “The fundamentals driving the growth in sales of electric cars remain in place and the momentum is stronger than the uncertainties we are witnessing right now. Any short- to medium-term economic effects have not dented our goal of selling 290,000 cars in 2025 – 10 times more than we sold in 2021.”
Polestar currently operates in 23 markets and aims to be operating in 30 markets by the end of 2023. Among the new markets it is entering include Spain, Portugal, Israel, and Italy.
The forthcoming Polestar 3 SUV is also shaping up to form an important part in the company’s expansion plans.
“We believe our future growth will be further accelerated by our entry into the lucrative SUV market later this year with the world premiere in October of the long-awaited Polestar 3 electric performance SUV,” Ingenlath added. “Polestar 3, which will be manufactured in the US and China, will stand out amongst other SUV offerings and boost our strong growth trajectory to take us into our next phase.”
