Polestar comes from publish its results for the second quarter. The brand broke its record with 15,765 electric vehicles delivered between April and June 2023. A 36% increase year-on-year. At the same time, the losses are also increasing, but it’s ” in the order of things according to the manufacturer.
Production ramps up at Polestar
In the first half of 2023, Polestar delivered 27,841 all-electric vehicles, including 15,765 between April and June. A record due in particular to the increase in its production capacities. The brand has planned to manufacture between 60,000 and 70,000 units this year and wants to achieve a gross margin of 4%. For the boss of the Swedish company, Polestar between ” in an exciting growth phase with the upcoming production of two highly anticipated new models.
The automaker recorded revenue of $685 million between April and June 2023 (compared to $589 million last year over the same period). Over the first six months of the year it amounted to 1.2 billion dollars. The increase in Polestar 2 sales has done a lot of good for the company’s financial health.
Who says rapid growth, often says increasing losses. Polestar suffered a “ rising manufacturing costs », in particular because of the increase in the prices of semiconductors and batteries. Polestar’s losses are estimated at $304 million. However, the company ends the quarter with $1.06 billion in cash.
The Polestar 3 and 4 are coming
Thomas Ingenlath, the CEO of Polestar, seems satisfied with the results of his company. He spoke about this and believes that ” we delivered record volume growth in the second quarter. Our Polestar 2 deliveries are ramping up “. The Polestar 3 and 4 will soon go into production and the company may change in size.
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The 3, the Swedish brand’s first SUV, could arrive in France in the course of 2024. The Polestar 4 will be the new rival of the Tesla Model Y. A coupe SUV with imposing dimensions: 4.84 m long for 2 .14m wide. It will be marketed in two versions: the Long Range Dual Motor with a 400 kW motor and 686 Nm of torque. And the ” Longe Range Single Motor with a power of 200 kW and a torque of 373 Nm.
