Polestar has successfully listed on the Nasdaq stock exchange. The US listing marks a significant milestone for the electric-premium car brand that launched in 2017.
“This is a hugely proud moment for the entire team at Polestar,” says Thomas Ingenlath, CEO of Polestar. “We will now open a new chapter in our story that can be summarised in one word – growth. By 2025 we aim to be selling 290,000 cars per year, 10 times as many as we sold in 2021. We already have a real and successful business; this listing gives us the funds and platform to help deliver our ambitious future plans and drive industry-leading sustainability goals forward.”
The Nasdaq trading debut follows a strong start to 2022. Polestar recently announced record sales for the year to date, and robust global customer orders for Polestar 2, its all electric fastback, of over 32,000, an increase of 290% versus the same period in 2021. Polestar also increased its presence to 25 markets, up from 19 at the end of 2021, supported with nearly 130 retail locations.
Thomas Ingenlath continues: “We are adding three new premium electric cars to our line-up by 2024, starting with the launch of our first SUV, Polestar 3, later this year. This attractive product portfolio will be the base for Polestars growth in the most attractive, high-margin, global EV segments.”
Polestar will ring the opening bell at Nasdaq in New York City on 28 June to celebrate its debut as a publicly traded company. A live stream of the event can be viewed online at https://livestream.com/accounts/27896496/events/10423292.
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