Skip to main content
Sister Publication Links
  • Automotive News
  • Automobilwoche
  • Automotive News Canada
  • Automotive News China
Subscribe
  • Subscribe
  • Newsletters
  • Login
  • HOME
    • Latest news
    • Automakers
    • Suppliers
    • New Product
    • Environment/Emissions
    • Sales By Market
    • On The Move
    • Auto Shows
    • Munich Auto Show
    • Geneva Auto Show
    • Paris Auto Show
    • Beijing Auto Show
    • Shanghai Auto Show
  • Features
    • Long Read
    • Interview of the Month
    • Focus on Electrification
    • Focus on Technology
    • Segment Analysis
    • Cars & Concepts
    • Supplier Spotlight
    • Europe By The Numbers
  • Opinion
    • Blogs
    • Commentary
    • Guest columnists
  • Photos
    • Photo Galleries
    • Geneva Photo Gallery
    • Beijing Photo Gallery
    • Frankfurt Photo Gallery
    • Paris Photo Gallery
    • Shanghai Photo Gallery
  • Podcasts
  • Car Cutaways
  • EVENTS
    • ANE Congress
    • ANE Rising Stars
    • ANE Eurostars
  • More
    • Publishing Partners
    • Social Media
    • Contact Us
    • Media Kit
    • About Us
    • Capgemini: All or nothing: Why circular business models require a holistic approach
    • Capgemini: Invent Head on automotive takeaways from CES 2023
    • Capgemini: Securing the industry's future through a radical rethink
    • Capgemini: Succeeding with the automated driving journey through AI
    • Capgemini: The circular economy is spurring new thinking on EV batteries
    • Capgemini: Toyota and Capgemini leaders on how OEMs can handle industry changes and succeed
    • HEXAGON: Plugging into data is the only way to make winning EVs
    • PUBLICIS SAPIENT: The power of post-purchase: How automakers can maximize customer lifetime value
    • TUV Rheinland: Ideas, services and certifications for smart mobility
    • TUV Rheinland: Testing of automated and autonomous vehicles on test tracks
    • Toyota Europe
    • UFI Filters
    • Facebook
    • Instagram
    • LinkedIn
    • Twitter
MENU
Breadcrumb
  1. Home
  2. Focus on Electrification
January 11, 2022 10:29 AM

Polestar hits 2021 sales target, eyes 124% increase this year

Polestar has an even tougher sales goal for this year: 65,000 global sales

Douglas A. Bolduc
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print
    Polestars at dealership in Sweden

    The Polestar 2, shown, will be joined by a new model each year from 2022-24.

    Polestar reached its 2021 global sales goal of 29,000 cars, which was a increase of more than 185 percent on 2020, the Volvo Cars subsidiary said on Tuesday.

    Polestar, which plans to go public via a merger with the special-purpose acquisition company Gores Guggenheim in the first half of this year, has an even tougher goal for this year: 65,000 sales.

    CEO Thomas Ingenlath told Automotive News Europe he is cautiously optimistic the electric car maker, which relies on the Polestar 2 for the most of its current volume, will be able to boost sales by nearly 125 percent this year despite the ongoing chip crisis.

    "So far, we have had no reason to adjust our outlook downward, but who knows how bad things will be. We will have to wait and see how 2022 develops," he said.

    Polestar, which ranks itself alongside Tesla as the only global EV-only players in the premium market, will debut a new model each each year starting with the Polestar 3 premium large SUV in 2022.

    It will be followed by the Polestar 4 midsize SUV and the Polestar 5 premium large sedan in 2023 and 2024, respectively. The aim is to reach global sales of 290,000 by 2025 (see chart, below).

    Polestar expanded its reach to 19 markets last year from 10 in 2020, led by new additions such as Austria, Denmark and Hong Kong.

    The growth will continue in the first half of this year as Polestar plans to add Spain, Portugal and Ireland as well as enter the United Arab Emirates, Kuwait and Israel.

    By the end of 2023, Polestar aims to be operating in at least 30 global markets.

    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.

    "This definitely will accelerate with the increase in volume that will come with the arrival of the Polestar 3," Ingenlath told ANE. "It is happening in all the countries where we are active as we move from being in the big capitals to the next wave of locations."

    RECOMMENDED FOR YOU
    Stellantis CEO Tavares' relentlessness reemerges as car dynamics shift
    Recommended for You
    Stellantis CEO Carlos Tavares
    Stellantis CEO Tavares' relentlessness reemerges as car dynamics shift
    2015-10-03T050312Z_377135147_GF10000230660_RTRMADP_3_VOLKSWAGEN-EMISSIONS-AUSTRALIA.gif
    VW, Audi agree to $85 million diesel settlement with Texas
    Tesla factory Berlin
    Possible 'massive' Tesla data leak looked into by Dutch watchdog
    TCG Intro Image
    Sponsored Content: The power of post-purchase: How automakers can maximize customer lifetime value
    Sign up for free newsletters
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    You can unsubscribe at any time through links in these emails. For more information, see our Privacy Policy.

    Get Free Newsletters

    Sign up and get the best of Automotive News Europe delivered straight to your email inbox, free of charge. Choose your news – we will deliver.

    You can unsubscribe at any time through links in these emails. For more information, see our Privacy Policy.

    SUBSCRIBE TODAY

    Get 24/7 access to in-depth, authoritative coverage of the auto industry from a global team of reporters and editors covering the news that’s vital to your business.

    SUBSCRIBE NOW
    Connect with Us
    • Twitter
    • Facebook
    • LinkedIn
    • Instagram

    Founded in 1996, Automotive News Europe is the preferred information source for decision-makers and opinion leaders operating in Europe.

    Contact Us

    1155 Gratiot Avenue
    Detroit MI  48207-2997
    Tel: +1 877-812-1584

    Email Us

    ISSN 2643-6590 (print)
    ISSN 2643-6604 (online)

     

    Resources
    • About us
    • Contact Us
    • Advertise with us
    • Advertise with Us
    • Ad Choices Ad Choices
    • Sitemap
    Awards
    • Rising Stars
    • Eurostars
    • Leading Women
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Automotive News Europe
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • HOME
      • Latest news
      • Automakers
      • Suppliers
      • New Product
      • Environment/Emissions
      • Sales By Market
      • On The Move
      • Auto Shows
        • Munich Auto Show
        • Geneva Auto Show
        • Paris Auto Show
        • Beijing Auto Show
        • Shanghai Auto Show
    • Features
      • Long Read
      • Interview of the Month
      • Focus on Electrification
      • Focus on Technology
      • Segment Analysis
      • Cars & Concepts
      • Supplier Spotlight
      • Europe By The Numbers
    • Opinion
      • Blogs
      • Commentary
      • Guest columnists
    • Photos
      • Photo Galleries
      • Geneva Photo Gallery
      • Beijing Photo Gallery
      • Frankfurt Photo Gallery
      • Paris Photo Gallery
      • Shanghai Photo Gallery
    • Podcasts
    • Car Cutaways
    • EVENTS
      • ANE Congress
      • ANE Rising Stars
      • ANE Eurostars
    • More
      • Publishing Partners
        • Capgemini: All or nothing: Why circular business models require a holistic approach
        • Capgemini: Invent Head on automotive takeaways from CES 2023
        • Capgemini: Securing the industry's future through a radical rethink
        • Capgemini: Succeeding with the automated driving journey through AI
        • Capgemini: The circular economy is spurring new thinking on EV batteries
        • Capgemini: Toyota and Capgemini leaders on how OEMs can handle industry changes and succeed
        • HEXAGON: Plugging into data is the only way to make winning EVs
        • PUBLICIS SAPIENT: The power of post-purchase: How automakers can maximize customer lifetime value
        • TUV Rheinland: Ideas, services and certifications for smart mobility
        • TUV Rheinland: Testing of automated and autonomous vehicles on test tracks
        • Toyota Europe
        • UFI Filters
      • Social Media
        • Facebook
        • Instagram
        • LinkedIn
        • Twitter
      • Contact Us
      • Media Kit
      • About Us