The electric car manufacturer Polestar achieved a turnover of 420.8 million euros in the third quarter of 2022. Compared to the same quarter of the previous year (205.7 million euros), Polestar more than doubled its revenue.
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Polestar presents its financial results for the first six months of 2022. Volvo-born electric car brand reports nearly doubling its revenue, mainly driven by sales of the Polestar 2, the company’s first purely electric vehicle. Other segments, however, required investment.
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Electric car brand Polestar has delivered around 21,200 vehicles in the first six months of 2022, nearly 125 per cent more than the 9,510 vehicles delivered in the same period last year. Polestar reiterated its reduced target of delivering 50,000 electric cars in the full year.
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Polestar is launching a special limited edition model of the Polestar 2. The Polestar 2 BST Edition 270 includes mechanical as well as design modifications to differentiate it from the standard Polestar 2 models.
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Polestar reported a new sales record for the first four months of this year. At the same time, the electric car brand is reducing its planned number of vehicle sales to customers for 2022 from 65,000 to around 50,000 units.
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Polestar has new features for its all-electric Polestar 2. In addition to the larger battery for the basic version already announced in March, the design and equipment updates include new colours, rims and interior trim.
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The car rental company Hertz and the electric car manufacturer Polestar have entered global cooperation. Hertz will purchase up to 65,000 Polestar electric cars over five years.
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Polestar has announced the market launch of the all-electric Polestar 2 Long range Single motor fastback in the United States. Available to order online, the single-motor Polestar 2 starts at prices of $45,900, or as low as $33,400 after qualified federal and state incentives.
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Polestar is now launching its Polestar 2 on the South Korean market. Prices for the electric sedan start at 54.9 million won for the single-engine version and 57.9 million won for the dual-engine variant. Orders are available now and deliveries are scheduled to begin in mid-March.
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The electric car brand Polestar has sold 29,000 vehicles worldwide in 2021, reaching its sales target. Compared to the previous year, sales increased by 185 per cent.
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The EPA has published range ratings for more electric models including the Polestar 2 single motor version, the Hyundai Ioniq 5, the Kia EV6 and the Volvo XC40 Recharge.
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The electric car brand Polestar aims to increase its annual sales to 290,000 vehicles by the end of 2025 with expansion in existing and new markets and the introduction of three new models. By the end of 2023, Polestar should already be present in 30 markets – currently there are 14.
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Polestar is apparently close to completing the proposed SPAC merger with investment firm Gores Guggenheim that was first leaked in July. The official announcement could be made in the course of today, Monday.
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Polestar has announced that the single-engine variants of the Polestar 2, which were introduced in the spring, will be delivered for the first time this month. The Swedish-Chinese brand also plans to expand further globally.
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In Norway, 11,811 new electric cars were registered in August. The share of electric cars in new passenger car registrations was 71.9 per cent last month. Norway’s most successful model across all drive types in August was the Tesla Model Y with 1,308 new registrations.
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Swedish electric vehicle brand Polestar announced the extended range, lower pricing, and bespoke configuration for the model year 2022 Polestar 2 in the USA. Prices for the single motor version start at $45,000 before subsidies.
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Polestar has entered into a strategic partnership with blockchain provider Circulor. One element of the partnership is the tracking of CO2 equivalents through the supply chain. This is intended to help achieve Polestar’s goal of building a carbon-neutral car by 2030.
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Polestar is expanding the range for its purely electric hatchback Polestar 2. Three drive trains are now available. In addition to the already available dual-motor drive with 300 kW output and a 78 kWh battery, there are now also two variants with front-wheel-drive.
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EV charging network operator ChargePoint and Volvo’s electric car subsidiary Polestar announced a new charging partnership. The debut includes an in-vehicle charging app for the Polestar 2 electric sedan.
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Polestar, Volvo’s electric car brand from Sweden, says it was expanding its retail presence across the United States with plans to open new Polestar Spaces in 15 cities by the end of this year. First cities will see the showrooms open within a few months.
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The problems with the Polestar 2 are apparently more serious than previously assumed. In an official statement, Polestar has announced a recall campaign so the company can replace defective inverters in most of the customer vehicles delivered.
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The US EPA has published its range ratings for the all-electric models Volvo XC40 Recharge and Polestar 2 with surprisingly low values: 208 miles (335 km) for the Volvo XC40 Recharge and 233 miles (375 km) for the Polestar 2.
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Following reports of problems with the all-electric Polestar 2 after deliveries started a few weeks ago, Polestar confirmed that they detected “a software error in the battery power control module, which, in very rare cases and without warning can lead to a loss of drive”.
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After Polestar started European delivery of the purely electric Polestar 2 at the end of July in Sweden and Norway, customers in Germany are now getting their turn.
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Polestar has started deliveries of the Polestar 2 earlier than planned. The first European customer vehicle has now been handed over at the company’s headquarters in Gothenburg, which is ahead of schedule and was not supposed to take place until August.
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The first delivery of purely electric Polestar 2 has arrived for customers in Europe. The vehicles are now being prepared in Belgium for further transport – but not to the UK, Germany and the Netherlands quite yet.
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Polestar will be cooperating with Plugsurfing in Europe to offer its customers access to the 195,000 charging points of the Plugsurfing network. This should make public charging easier across national borders.
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Polestar has announced their first retail partners for the US market, which will help Volvo’s plug-in brand to set up a network of so-called Polestar Spaces in New York and Los Angeles as well as San Francisco this year.
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Polestar has published the prices for its first purely electric model in the USA. The list prices of the Polestar 2 start at 59,900 US dollars: The battery-electric car qualifies for the federal tax credit of 7,500 dollars.
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In Luqiao, China Polestar has kicked-off series production of the Polestar 2 BEV. The Volvo subsidiary’s all-electric car is to be launched on the European market first, with deliveries planned to start summer 2020 before coming to the US and China.
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