Swedish electric carmaker Polestar has reported a 50 per cent jump in EV deliveries in the third quarter, with a total of about 13,900 vehicles, mostly due to the upgraded, and higher priced, Polestar 2.
The third quarter result brings Polestar’s total deliveries for 2023 up to 41,700, a growth of 37 per cent year-on-year, setting the company up for a strong run to the end of the year.
Polestar’s fourth quarter will be further bolstered by the start of deliveries for its Polestar 4 in China.
The company, which is jointly owned by Volvo Cars and China’s Geely, the parent company of both, remains confident it will deliver between 60,000 and 70,000 cars in 2023 despite its new focus on the premium end of the market.
“We have delivered a strong quarter and expect higher margins for the rest of the year, as we continue to prioritize value over volume in our business,” said Thomas Ingenlath, Polestar CEO.
“We will soon have a compelling range of three distinctive cars, including two luxury SUVs, each addressing an exclusive luxury EV segment. With this, Polestar enters an exciting new period.”
Joshua S. Hill is a Melbourne-based journalist who has been writing about climate change, clean technology, and electric vehicles for over 15 years. He has been reporting on electric vehicles and clean technologies for Renew Economy and The Driven since 2012. His preferred mode of transport is his feet.