Polestar meets global sales target of 29,000 vehicles in 2021 ahead of the merger with Gore Guggenheim ($GGPI) this year

Polestar announced today the annual deliveries of 2021 meeting the sales target of 29,000 vehicles. The premium EV Maker increased global presence from 10 to 19 markets throughout 2021. Retail footprint doubled over the last year – as the company revealed on the official note.

Polestar increased its global presence from 10 to 19 markets in 2021, with growth in Europe and Asia Pacific. In the first half of 2022, Polestar plans to add Spain, Portugal and Ireland to its European market footprint, and enter the Middle East with presence in the UAE, Kuwait and Israel. By the end of 2023, Polestar aims to be operating in at least 30 global markets.

“We are delivering on our targets. It is a hugely exciting time for the brand, with new markets and models to support the ambitious growth plans we have set for ourselves. Thanks to the relentless dedication of Polestar employees across the globe, we are progressing with confidence towards our proposed public listing.”

Thomas Ingenlath, Polestar CEO

“With strong new market launches and the fantastic reception of an expanded Polestar 2 model line-up, we have seen interest in Polestar and vehicle sales increase in all our markets. Our order intake is strong and we are looking forward to further growth in our sales volume again in 2022.” – Mike Whittington, Polestar’s Head of Sales, added.

“In September 2021, Polestar announced its intention to list as a public company on the Nasdaq in a business combination agreement with Gores Guggenheim, Inc. Full information on this definitive agreement can be found here.

In the coming three years, Polestar plans to launch one new electric vehicle per year, starting with Polestar 3 in 2022 – the company’s first electric performance SUV. Polestar 4 is expected to follow in 2023, a smaller electric performance SUV coupe.

Polestar made 10,000 EVs in 2020 and reached the target of 29,000 EVs by 2021. For 2022, it expects to make 65,000 EVs. And by 2025, it hopes to produce 290,000 EVs.

Gores Guggenheim , a special-purpose acquisition company (SPAC) expected to merge with Swedish EV maker Polestar Automotive in the first half of this year, saw its stock fall 13.1% in December 2021.