POLESTAR - Polestar, the pure-play, premium electric car company, confirms that 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, representing year-on-year growth exceeding 185%. Polestar’s proposed business combination with Gores Guggenheim, Inc. (Nasdaq: GGPI, GGPIW, and GGPIU), is expected to close in the first half of 2022.
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 presence in the UAE, Kuwait and Israel. By the end of 2023,
Polestar aims to be operating in at least 30 global markets.
“We are
delivering on our targets,” says Thomas Ingenlath, Polestar CEO.
“It is 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.”
Mike
Whittington, Polestar’s Head of Sales, adds: “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.”
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.
In 2021,
Polestar also announced its plans to launch three new cars in the coming three
years. Polestar 3, a premium electric performance 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.