Former Swedish performance brand, now EV maker Polestar just unveiled its Q3 sales report and the numbers are looking good. The company moved a total of 13,900 vehicles in the past three months, which is a huge 50% growth compared to the same period last year.
A fair share of the credit goes to the upgraded, Polestar 2, which was the best seller. Polestar 2
Polestar's delivery scoreboard reads around 41,700 for the first nine months of this year, which is a 37% climb year-on-year. With the introduction of Polestar 4 in China in the upcoming quarter, the company is 60,000-70,000 vehicle deliveries for the entire year. That would require 18,300-28,300 sales in Q4, which seems ambitious, but not impossible if current growth rates are sustained. For context, in 2022 the company managed to roll out approximately 51,500 EVs.
By the end of the year, China will see the Polestar 4. Meanwhile, early 2024 will mark the production commencement of the Polestar 3 at the Volvo Cars plant located in South Carolina.Polestar 3
While the numbers and projections can be head-spinning, what's evident is Polestar's drive (no pun intended) to establish itself firmly in the EV industry. As we await their unaudited financial results on November 8, 2023, it's worth keeping an eye on this Swedish contender. Their strategy of prioritizing quality over quantity might just be the playbook others might soon be borrowing from.Polestar 4