Electric vehicle maker Polestar announced that its revenue for the first half of 2022 increased 95% to $1 billion.
The company grossed $1041.3 million in profits in the first six months of 2022 and delivered 21,185 vehicles in the first six months of 2022.
Polestar Automotive Holding UK PLC (“Polestar” or “Company” Nasdaq: PSNY), the Swedish brand of electric vehicles, announces its financial results for the first six months of 2022.
Thomas Enginlath, CEO of Polestar comments: “We made significant progress in the first half of 2022 as we doubled revenue and volume, and were successfully listed on the Nasdaq in New York. In addition, we have maintained strong momentum in our global system, and we expect to deliver 50,000 A car for our customers this year, meeting our sales guidance for 2022. With so many future flagships, Polestar is preparing for a period of rapid growth.”
In support of Polestar’s working capital needs, over the past three months, Polestar has repaid two existing unsecured working capital loan agreements and entered into two 12-month unsecured working capital loan agreements with two banks in China, totaling approximately 200 million American dollar. Moreover, in late August 2022, Polestar entered into an additional credit facility with one of those banks for approximately US$145 million.
You can find out more details about Polestar’s revenue and sales for the first half of 2022 at the link below.
Filed under: Auto News