Polestar, the Swedish electric vehicle company, has met its growth targets on its way to being listed on Nasdaq through a merger deal with Gores Guggenheim, Inc. (Nasdaq: GGPI, GGPIW and GGPIU) that could close at the end of the year. June 2022. Polestar entered its 25th global market in the first half of 2022, which is a significant increase from 2020, when it was present in 10 markets. Polestar has added six new markets since the beginning of 2022 (UAE, Kuwait, Hong Kong, Ireland, 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 will have a presence in a minimum of 30 markets around the world and will continue to evaluate new opportunities for the future.
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 the attractive and expanding SUV market. The Polestar 3 will be followed by the Polestar 4 electric SUV coupe and the Polestar 5 4-door electric GT. Specifically, the Polestar 4, scheduled for launch in 2023, will allow the brand to enter one of the most competitive segments of the market in terms of demand, performance and design. And the Polestar 5 is also in an advanced stage of development and will be presented in 2024.
Mike Whittington , Polestar’s Global Sales Director, said: “We are all delighted with the growth our business is experiencing. Orders are at an all-time high and we expect them to exceed 75,000 vehicles per year, reinforcing our position at a time when that production is beginning to normalize. With the forthcoming launches of the Polestar 3 and Polestar 4, we will also have a leading role in the lucrative SUV segments. Production capacity for these two electric vehicles will exceed 160,000 units per year by 2025, which It will allow us to continue to grow and attract new customers .”
