Polestar Expects To Build 160,000 Electric SUVs A Year By 2025
Polestar has big ambitions for its electric vehicle lineup in the coming years, especially for its upcoming Polestar 3 midsize SUV and Polestar 4 compact SUV coupe.
The Swedish electric performance car brand expects to produce more than 160,000 SUVs a year by 2025, with much of the output to go to the US market, where crossovers and SUVs made up more than half of new-vehicle sales in 2021.
The Polestar 3, a Volvo XC90-sized electric SUV, will go on sale in the United States in the first quarter of 2023 and will be made at Volvo’s plant in South Carolina alongside the next-generation XC90. Polestar expects to sell 24,000 units of the midsize SUV globally next year, 67,000 in 2024 and 77,000 in 2025, company figures show.
The Volvo XC60-sized Polestar 4 is expected to launch in the US in 2024, when the company estimates it could sell 43,000 units worldwide, followed by 79,000 in 2025. The sporty SUV is expected to enter production in China in late 2023.
Both the Polestar 3 and Polestar 4’s rear end designs are teased in a new group photo alongside the Polestar 5 and the Polestar 2, revealing a clear family resemblance between them.
These estimates were released by Polestar during an investor presentation that also announced over 32,000 customer orders globally for the Polestar 2 since the start of 2022, accounting for an increase of 290% versus the same period in 2021.
“It’s exciting for the whole team to experience this growing momentum in our business. Our order intake is at record levels and currently represents an annualized run-rate of over 75,000 vehicles, putting us in a strong position as the production landscape normalizes.”
Mike Whittington, Head of Global Sales at Polestar
Details of the company’s market expansion were also announced, with the carmaker revealing it entered its 25th global market in the first half of 2022, a significant increase from 10 markets in 2022.
Polestar also plans to launch in Israel and Italy in the second half of 2022, adding to its Middle East and European footprint that includes UAE, Kuwait, Ireland, Spain and Portugal besides the major markets. The brand now has close to 130 retail locations around the globe and expects to have 160 locations by the end of 2022.
More Polestar Spaces and Destinations are planned in existing and new markets, in cities including London, Madrid, Tel Aviv, Reykjavík, Vancouver, Austin, Shenzhen, and others. By the end of 2023, Polestar plans to be present in at least 30 markets worldwide.
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