Polestar Automotive Holding UK PLC, (“Polestar”, NASDAQ: PSNY)
the Swedish electric performance car brand, reports its global
deliveries for the second quarter of 2023.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20230706930655/en/
Polestar expected product portfolio 2024:
Polestar 2, Polestar 3, Polestar 4, Polestar 5. (Photo: Business
Wire)
Following strong deliveries in the month of June, up 73%
year-on-year, Polestar achieved its best ever second quarter,
delivering approximately 15,800 vehicles, a growth of 36% compared
to last year. With record global deliveries of around 27,900 for
the first six months, Polestar is on track to deliver 60,000-70,000
vehicles in 2023.
Thomas Ingenlath, Polestar CEO, comments: “As expected,
deliveries have continued to gather pace from month to month,
resulting in a record second quarter. I’m confident this trend will
continue into the seasonally stronger second half of the year,
which will also see the first deliveries of our significantly
upgraded Polestar 2, with up to 22% longer range.
“More than 20 permanent Polestar Spaces are planned to open over
the coming months, as we expand our footprint and shift from
temporary locations into larger facilities that can accommodate our
growing line-up. I'm really pleased that the first Polestar 3
display cars will be arriving in our Spaces in the coming
weeks.”
Polestar expects to post its unaudited financial and operational
results for the second quarter of 2023 on Thursday, 31 August 2023,
before market opening in the USA. Polestar's CEO and CFO will hold
a live audio webcast to discuss the Company’s results at 08:00 ET
(14:00 CEST). Relevant documents and a link to the live audio
webcast will be available on the Polestar Investor Relations
website at https://investors.polestar.com/. From Thursday, 17
August 2023, verified shareholders will be able to ask questions
through the Say Technologies platform, accessible via
https://app.saytechnologies.com/polestar-2023-q2.
About Polestar
Polestar (Nasdaq: PSNY) is the Swedish electric performance car
brand determined to improve society by using design and technology
to accelerate the shift to sustainable mobility. Headquartered in
Gothenburg, Sweden, its cars are available online in 27 markets
globally across North America, Europe and Asia Pacific. The company
plans to create a truly climate-neutral production car, without
offsetting, by 2030.
Polestar 2 launched in 2019 as the electric performance fastback
with avant-garde Scandinavian design and up to 350 kW. Polestar 3
launched in late 2022 as the SUV for the electric age – a large
high-performance SUV that delivers sports car dynamics with a low
stance and spacious interior. Polestar plans to release three more
electric performance vehicles through to 2026.
Forward-Looking Statements
Certain statements in this press release (“Press Release”) may
be considered “forward-looking statements” as defined in the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements generally relate to future events or the future
financial or operating performance of Polestar. For example,
projections of revenue, volumes and other financial or operating
metrics are forward-looking statements. In some cases, you can
identify forward-looking statements by terminology such as “may”,
“should”, “expect”, “intend”, “will”, “estimate”, “anticipate”,
“believe”, “predict”, “potential”, “forecast”, “plan”, “seek”,
“future”, “propose” or “continue”, or the negatives of these terms
or variations of them or similar terminology. Such forward-looking
statements are subject to risks, uncertainties, and other factors
which could cause actual results to differ materially from those
expressed or implied by such forward looking statements.
These forward-looking statements are based upon estimates and
assumptions that, while considered reasonable by Polestar and its
management, as the case may be, are inherently uncertain. Factors
that may cause actual results to differ materially from current
expectations include, but are not limited to: (1) Polestar’s
ability to maintain agreements or partnerships with its strategic
partners, such as Volvo Cars, Geely or Xingji Meizu Group, and to
develop new agreements or partnerships; (2) Polestar’s ability to
maintain relationships with its existing suppliers, and source new
suppliers for its critical components, and to complete building out
its supply chain, while effectively managing the risks due to such
relationships; (3) Polestar’s reliance on its partnerships with
vehicle charging networks to provide charging solutions for its
vehicles and its reliance on strategic partners for servicing its
vehicles and their integrated software; (4) Polestar’s reliance on
its partners, some of which may have limited experience with
electric vehicles, to manufacture vehicles at a high volume or
develop devices, products, apps or operating systems for Polestar,
and on the allocation of sufficient production capacity or
resources to Polestar by its partners in order for Polestar to be
able to increase its vehicle production capacities and product
offerings; (5) competition, the ability of Polestar to grow and
manage growth profitably, maintain relationships with customers and
suppliers and retain its management and key employees; (6)
Polestar’s estimates of expenses and profitability; (7) increases
in costs, disruption of supply or shortage of materials, in
particular for lithium-ion cells or semiconductors; (8) the
possibility that Polestar may be adversely affected by other
economic, business, and/or competitive factors; (9) the effects of
competition and the high barriers to entry in the automotive
industry, and the pace and depth of electric vehicle adoption
generally on Polestar’s future business; (10) changes in regulatory
requirements, governmental incentives and fuel and energy prices;
(11) the outcome of any legal proceedings that may be instituted
against Polestar or others; (12) the ability to meet stock exchange
listing standards; (13) risks associated with changes in applicable
laws or regulations and with Polestar’s international operations;
(14) Polestar’s ability to establish its brand and capture
additional market share, and the risks associated with negative
press or reputational harm, including from lithium-ion battery
cells catching fire or venting smoke; (15) delays in the design,
development, manufacture, launch and financing of Polestar’s
vehicles and other product offerings, and Polestar’s reliance on a
limited number of vehicle models to generate revenues; (16)
Polestar’s ability to continuously and rapidly innovate, develop
and market new products; (17) risks related to future market
adoption of Polestar’s offerings; (18) risks related to Polestar’s
distribution model; (19) the impact of the global COVID-19
pandemic, inflation, interest rate changes, the ongoing conflict
between Ukraine and Russia, supply chain disruptions and logistical
constraints on Polestar, Polestar’s projected results of
operations, financial performance or other financial and
operational metrics, or on any of the foregoing risks; and (20)
other risks and uncertainties set forth in the sections entitled
“Risk Factors” and “Cautionary Note Regarding Forward-Looking
Statements” in Polestar’s Form 20-F, and other documents filed, or
to be filed, with the SEC by Polestar. There may be additional
risks that Polestar presently does not know or that Polestar
currently believes are immaterial that could also cause actual
results to differ from those contained in the forward-looking
statements.
Nothing in this Press Release should be regarded as a
representation by any person that the forward-looking statements
set forth herein will be achieved or that any of the contemplated
results of such forward-looking statements will be achieved. You
should not place undue reliance on forward-looking statements,
which speak only as of the date they are made. Polestar assumes no
obligation to update these forward-looking statements, even if new
information becomes available in the future.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230706930655/en/
Bojana Flint Head of Investor Relations
bojana.flint@polestar.com
Theo Kjellberg Head of Corporate PR
theo.kjellberg@polestar.com
Tanya Ridd Global Head of Communications & PR
tanya.ridd@polestar.com
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