The Swedish EV Newcomer Polestar has sold 29,000 vehicles worldwide in 2021. With this the Company was reaching its sales target. Compared to the previous year, sales increased by 185%.
In 2021, Polestar increased its global presence from ten to 19 markets, with a focus on Europe and the Asia-Pacific region.
The expansion is expected to continue in the coming months. In the first half of 2022, Polestar says it plans to expand its footprint in Europe to include Spain, Portugal as well as Ireland, and in the Middle East to open branches in the United Arab Emirates, Kuwait and Israel.
By the end of 2023, Polestar aims to be active in at least 30 global markets. Polestar’s planned merger with Gores Guggenheim for the purpose of an IPO is expected to be completed in the first half of 2022.
Mike Whittington, Head of Sales at Polestar, highlighted the “fantastic response” to the expanded Polestar 2 model range – the brand had announced the two single-engine variants in April, and since September the more affordable models have been delivered alongside the four-wheel-drive version.
No specific sales target for 2022 has been announced yet. What is known is that the Company is aiming to increase sales tenfold to 290,000 vehicles by 2025. Not only new markets, but also three new models are to contribute to this. In addition to the aforementioned sporty SUV Polestar 3, the larger SUV Polestar 4 and the electric sedan Polestar 5 are to follow. The production design of the latter model was already shown in November, although the car will not be launched on the market until 2024.
According to reports, Polestar is working on a new 800-volt motor that will produce 475 kW. The Polestar-exclusive drive could debut in the Polestar 5.