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Polestar Delivers 10,000th Vehicle

Published 11/04/2022, 11:46 AM
Updated 11/04/2022, 11:49 AM
© Reuters.  Polestar (PSNY) Delivers 10,000th Vehicle

By Michael Elkins 

Swedish electric performance vehicle maker, Polestar Automotive (NASDAQ:PSNY) delivered its 10,000th vehicle in October, cementing a record sales month for the company, despite challenging market conditions. Friday's SMMT sales figures show that the company delivered 1,069 Polestar 2 models in October representing growth of 62% over the same period last year. Polestar 2 has experienced its best month of sales in the UK since launching two years ago and is 62% up year-to-date.

"Polestar, through its direct to customer business model, is gathering serious momentum in the UK, now being one of the brand’s biggest markets globally. I am delighted that we have reached this milestone so soon after we introduced the Polestar 2 in 2020," commented Jonathan Goodman, Head of Polestar UK.

This year, Polestar opened its largest Space at Battersea Power Station in London and will follow with the opening of its UK Headquarters in December housing the commercial and customer care center. In 2023, the brand will start Polestar 3 electric SUV deliveries towards the end of the year opening Polestar to the fastest growing segment.

Shares of PSNY are up 3.75% in mid-day trading on Friday.

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