Polestar, a premium electric vehicle (EV) company, confirms it continues to deliver on ambitious global sales, market, and retail expansion plans that underpin significant growth targets for the coming years. The company delivered on its global sales target of 29,000 vehicles in 2021, which represents year-on-year growth exceeding 185 percent.
Polestar increased its global presence from 10 to 19 markets in 2021, with growth in Europe and Asia Pacific. In the first half of 2022, Polestar plans to add Spain, Portugal and Ireland to its European market footprint and enter the Middle East with a presence in the UAE, Kuwait and Israel. By the end of 2023, Polestar aims to be operating in at least 30 global markets.
Thomas Ingenlath, Polestar CEO, said: “We are delivering on our targets. It’s a hugely exciting time for the brand, with new markets and models to support the ambitious growth plans we have set for ourselves.
“Thanks to the relentless dedication of Polestar employees across the globe, we are progressing with confidence towards our proposed public listing.”
Additionally, Polestar’s retail footprint more than doubled in 2021 to 100 locations globally and the company aims to have 150 in operation by the end of 2022. In addition to the openings of inner-city Polestar Spaces, the company debuted its new, larger, out-of-town Polestar Destinations. The first permanent Polestar Destination opened in December 2021, outside Gothenburg, Sweden.
Mike Whittington, Polestar’s head of sales, said: “With strong new market launches and the fantastic reception of an expanded Polestar 2 model line-up, we have seen interest in Polestar and vehicle sales increase in all our markets.
“Our order intake is strong and we are looking forward to further growth in our sales volume again in 2022.”
In 2021, Polestar also announced its plans to launch three new cars in the coming three years. Polestar 3, a premium electric performance sports utility vehicle (SUV), is set to launch in 2022 and will be the first Polestar to be built in the US. Polestar 3 will benefit from advanced technologies from Luminar, Nvidia and Zenseact that will provide cutting-edge unsupervised autonomous driving functionality.
The other two cars include the Polestar Precept, the company’s manifesto concept saloon car that previews the future of its design, technology and sustainability, which will become the Polestar 5. The development of this has been documented in a YouTube documentary series by Polestar.
It’s good to see Polestar doing so well and expanding around the globe. It shows that there’s an appetite for quality premium brand plug-in electric vehicles. They are helping to lead the way in how cars can be, offer a whole new approach to purchase with their Polestar spaces, and most importantly, how they can be built sustainably and in a transparent way.