Polestar Automotive Holding UK PLC ("Polestar" or the "Company,"Nasdaq: PSNY), the Swedish electric performance car brand, delivered approximately 9,215 vehicles in the third quarter of 2022, bringing the total year-to-date to approximately 30,400 cars for the first nine months of 2022, up 100% year-on-year.
A recent ramp up in production following Covid-19 disruptions in China earlier in the year has resulted in significantly higher production rates and the company expects to meet its 50,000 global volume target for 2022 by delivering the remaining vehicles in the fourth quarter.
"We needed to catch up on production after Covid-19 related setbacks in China and we have. The majority of Polestar 2 cars set for delivery in Q4 are ready and making their way to our customers in 27 markets around the world, with the fourth quarter set to be our strongest on record yet. I am confident we will meet our target of 50,000 cars for this year." said Polestar CEO, Thomas Ingenlath.
Polestar expects to post its financial and operational results for the third quarter of 2022 on Friday, November 11, 2022, before market opening in the USA. Polestar's CEO and CFO will hold a live audio webcast that day at 08:00 EDT (14:00 CET) to discuss the Company's financial and operational results and outlook. Relevant documents and a link to the live audio webcast will be available on the Polestar Investor Relations website at https://investors.polestar.com/.