In the first half of 2022, Polestar, a Swedish electric vehicle manufacturer listed on the Nasdaq as PSNY, reported strong growth and record deliveries. Innovation in both established and emerging markets is a key factor in fueling rising consumer demand. About 21,200 electric vehicles were shipped out by the Swedish firm, which went public on the Nasdaq in New York at the end of June of this year, more than doubling the 9,510 vehicles shipped out in the first half of 2021.
Since the beginning of 2022, the number of orders received by the company has increased by more than 350%, reaching a total of 50,000. This number includes the initial batch of orders placed by Hertz, and the company continues to see strong customer demand. Such expansion validates Polestar's full-year target of delivering 50,000 cars.
The growth in Polestar 2 enthusiasm has been fantastic, says Polestar CEO Thomas Ingenlath. I have no doubt that as more innovative cars come out in the years to come, the strong brand awareness and sales growth we've seen this year will pick up speed quickly.
During the first half of 2022, Polestar increased its global presence from 19 to 25 markets, and the number of its locations increased from 103 to 125 across the globe, with an additional 30 opening by the end of the year. Completed test drives increased by 210 percent, indicating growing consumer interest in the brand, owing in large part to an increase in the share of Polestar locations.
The pandemic shutdown in the first half of 2022 slowed down Polestar's car production, but the company has announced that it will add a second shift to the factory to make up for lost time and set the stage for future growth.
The global debut of the Polestar 3 electric SUV is scheduled for October, marking Polestar's official entry into the SUV market. The SUV market, particularly in the United States, is expanding rapidly. The Polestar 3 will go on sale in October, and customers can place their orders on the day of the debut.
"In addition to aiding our expansion goals, the Polestar 3 will stand out from competing SUVs." In addition, it shows that we are increasing our presence in the American manufacturing sector as part of our overall global expansion. It's a big step toward our ultimate objective of selling 290,000 automobiles by 2025, which is ten times as many as we moved in 2021, "as Thomas Ingenlath draws to a close.
