Polestar elevated gross sales of its electrical automobiles by 125 % to 21,200 through the first half, almost matching its full-year quantity from final 12 months.

The Volvo Vehicles EV subsidiary, which joined the Nasdaq final month in an $890 million deal, bought 29,000 automobiles final 12 months and goals to extend that whole to 290,000 by 2025.

Regardless of the sturdy first-half numbers, the Tesla rival nonetheless expects to fall 15,000 items wanting its gross sales goal of 65,000 this 12 months, blaming the hit on COVID-19 lockdowns in China, the place it produces its solely mannequin, the Polestar 2.

“I’m very assured that the sturdy momentum we’ve got seen this 12 months in model consciousness and gross sales figures will speed up powerfully within the coming years as extra ground-breaking automobiles are revealed,” Polestar CEO Thomas Ingenlath, who will communicate on the Automotive Information Europe Congress on Thursday, mentioned in a launch.

With out offering specifics, the corporate mentioned that its order e-book its getting a elevate from its cope with rental automotive agency Hertz World Holdings, which introduced in April it might purchase as much as 65,000 Polestar electrical automobiles over 5 years.

To assist recuperate misplaced quantity, Polestar has launched of a second shift at its manufacturing facility in Luqiao, China. The corporate mentioned it’s assured it can hit its supply targets beginning subsequent 12 months.

A key a part of reaching its 2023 aim — 124,000 world gross sales — is the arrival of the Polestar 3 premium massive SUV, which may have its world debut in October.

“The Polestar 3 will stand out amongst different SUV choices and enhance our progress trajectory,” Ingenlath mentioned within the launch. “It additionally represents the growth of our manufacturing footprint into the US as we develop into much more world.”

The Polestar 3 shall be constructed alongside Volvo’s forthcoming flagship SUV on the Swedish automaker’s U.S. manufacturing facility close to Charleston, South Carolina. The SUV shall be adopted by the Porsche Macan sized Polestar 4 in 2023 and the Polestar 5 massive sedan in 2024.

The manufacturing woes haven’t impeded Polestar’s market growth. It’s now lively in 25 markets, up from 23 after the primary quarter and up from 19 on the finish of 2021, with Spain and Portugal being among the many key new additions.

Italy and Israel shall be added earlier than 12 months finish as a part of the corporate’s goals to have operations getting in 30 market on the shut of 2022.

The corporate mentioned its variety of world retail areas rose to 125 from 103 through the interval, with roughly 30 extra shops anticipated to open by the tip of 2022.