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Polestar says on track to meet full-year delivery target of 50,000 vehicles after strong Q3

polestar says on track to meet full year delivery target of 50000 vehicles after strong q3

Swedish electric vehicle maker Polestar Automotive Holding UK PLC PSNY, +0.35% said Friday it delivered about 9,215 vehicles in the third quarter, bumping its year-to-date deliveries to about 30,400. The company said it now expects to meet its full-year target of 50,000 deliveries. “We needed to catch up on production after Covid-19 related setbacks in China and we have,” Chief Executive Thomas Ingenlath said in a statement. “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.” Shares rose 2% premarket, but are down 52% in the year to date, while the S&P 500 SPX, -1.27% has fallen 21%.

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