Polestar reports 95% revenue growth for the first half of 2022

Polestar, the new brand of the Chinese group Geely, is managing to land on its feet, and thanks to the strong demand for the Polestar 2, it is managing to double its sales compared to last year. All amid a strong commercial expansion that is taking its presence to more and more markets and also investing in the launch of new models that will increase the offer.

According to data published by Polestar, the brand has managed to increase its sales by 123% in the first six months of the year, reaching 21,185 units produced, paving the way to achieve the goal of selling 50,000 units by 2022. A demand which has also allowed the revenue figure to double, which has gone from 534.8 million in the first half of 2021 to 1,041.3 million this year.

Despite everything, as expected in a brand in the middle of an expansion phase, Polestar is still at a loss. Between January and June, operating losses increased by 520.5 million, or 143% more than the previous year. Something that, according to the brand, reflects the continuous investment in commercial expansion and investment in R&D to bring new models to the market.

An example of the expansion is that Polestar has added six new markets in just six months. An opening every 30 days has led them to open stores and technical services in the United Arab Emirates, Kuwait, Hong Kong, Ireland, Spain, and Portugal, and that has allowed them to increase stores to 125 and 934 service points in their markets.

Polestar

Now the next movements will involve the presentation this coming October of the production version of the Polestar 3, a very sporty SUV, which will possibly open the order book just after its presentation and that, as we remember, a version with a double engine and 600 will be available. km of autonomy in the WLTP cycle and with a price that in Spain will be 92,900 euros. Less powerful and cheaper versions will arrive later.

In addition, Polestar plans to launch the Polestar 5 saloon, the Polestar 4 midsize SUV coupe, and the Polestar 6 electric roadster, which will shape a premium family that, as we see, wants to conquer Europe thanks to a modern offer and a high level of technology.

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