11:18 am, October 10, 2022
Recent Covid lockdowns in China have been a ‘setback’ for Polestar’s car production the firm has said, but it’s still confident of meeting full-year targets.
In an update published on Friday (Oct 7), the Swedish electric performance car company said it had delivered 9,215 cars in the third quarter.
For the first nine months of this year, Polestar said it had produced around 30,400 cars – up 100 per cent on the same period last year.
Despite Covid lockdowns in China impinging on production, the firm said it’s still on course to reach 50,000 cars by year-end thanks to it recently ramping up production.
Currently the only car Polestar sells is the Tesla Model 3-rivalling Polestar 2 which is built in Luqiao, China.
In the update, Polestar CEO Thomas Ingenlat said: ‘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.’
The company confirmed it will be posting its full financial and operational results for the third quarter on November 11.
The latest update comes during a busy week for Polestar.
The covers will be pulled off the Polestar 3 SUV on Wednesday before going on sale, while in the UK the brand will open its latest Polestar Space in Battersea Power Station.
