PSNY Polestar Forecast: 2nd Quarter 2023 Results & Developments
PSNY Stock Forecast: Second Quarter 2023 Results and Recent Developments
Delivered 27,841 vehicles by June, aiming for 60–70k deliveries in 2023: Polestar delivered nearly 28,000 vehicles by June and has ambitious plans to deliver between 60,000 to 70,000 vehicles in the entire year of 2023.
Q2 saw 15,765 vehicle deliveries, a 36% YoY increase: In the second quarter (Q2), Polestar delivered 15,765 vehicles, which is 36% more than what they delivered during the same period the previous year, indicating growth.
Established a strategic joint venture with tech company Xingji Meizu Group: Polestar formed a significant partnership with Xingji Meizu Group, a technology company, to collaborate on their electric vehicle (EV) initiatives.
Focused on expanding in the Chinese EV market: Polestar is actively working to grow its presence in the Chinese market for electric vehicles (EVs) and is taking steps to strengthen its offerings there.
Upgraded Polestar 2 deliveries, achieving a production milestone of 150,000: Polestar improved its Polestar 2 model and has successfully produced 150,000 of these vehicles.
Enhanced Polestar 2 with better software, extended range (up to 650 km), and faster charging (up to 205 KW): The Polestar 2 received upgrades including improved software, a longer driving range of up to 650 kilometers, and faster charging capabilities up to 205 kilowatts.
Adopted the North American Charging Standard for new vehicles in North America starting in 2025: Starting in 2025, all new Polestar vehicles sold in North America will come equipped with charging ports that adhere to the North American Charging Standard.
Achieved $1.2 billion in revenue in the first half of 2023, driven by strong Polestar 2 sales: Polestar earned $1.2 billion in revenue during the first half of 2023, with a significant contribution coming from the successful sales of their Polestar 2 model.
Introduced Polestar 3 and Polestar 5 at Goodwood Festival of Speed with impressive power outputs: At the Goodwood Festival of Speed, Polestar unveiled the Polestar 3 and Polestar 5 models, both of which have powerful engines.
Reduced carbon footprint by 3 tons per car since the start of Polestar 2 deliveries in 2020: Polestar has made significant environmental progress by reducing the carbon emissions associated with the production of each Polestar 2 car by 3 tons since they began delivering these vehicles in 2020.
Collaborating with Mobileye on autonomous driving technology for Polestar 4: Polestar is working in partnership with Mobileye to incorporate autonomous driving technology into their upcoming Polestar 4 model.
Anticipate initial Polestar 4 deliveries in China before the end of 2023: Polestar expects to start delivering the Polestar 4 in China by the conclusion of 2023.
Delivered 27,841 vehicles by June, aiming for 60–70k deliveries in 2023: Polestar delivered nearly 28,000 vehicles by June and has ambitious plans to deliver between 60,000 to 70,000 vehicles in the entire year of 2023.
Q2 saw 15,765 vehicle deliveries, a 36% YoY increase: In the second quarter (Q2), Polestar delivered 15,765 vehicles, which is 36% more than what they delivered during the same period the previous year, indicating growth.
Established a strategic joint venture with tech company Xingji Meizu Group: Polestar formed a significant partnership with Xingji Meizu Group, a technology company, to collaborate on their electric vehicle (EV) initiatives.
Focused on expanding in the Chinese EV market: Polestar is actively working to grow its presence in the Chinese market for electric vehicles (EVs) and is taking steps to strengthen its offerings there.
Upgraded Polestar 2 deliveries, achieving a production milestone of 150,000: Polestar improved its Polestar 2 model and has successfully produced 150,000 of these vehicles.
Enhanced Polestar 2 with better software, extended range (up to 650 km), and faster charging (up to 205 KW): The Polestar 2 received upgrades including improved software, a longer driving range of up to 650 kilometers, and faster charging capabilities up to 205 kilowatts.
Adopted the North American Charging Standard for new vehicles in North America starting in 2025: Starting in 2025, all new Polestar vehicles sold in North America will come equipped with charging ports that adhere to the North American Charging Standard.
Achieved $1.2 billion in revenue in the first half of 2023, driven by strong Polestar 2 sales: Polestar earned $1.2 billion in revenue during the first half of 2023, with a significant contribution coming from the successful sales of their Polestar 2 model.
Introduced Polestar 3 and Polestar 5 at Goodwood Festival of Speed with impressive power outputs: At the Goodwood Festival of Speed, Polestar unveiled the Polestar 3 and Polestar 5 models, both of which have powerful engines.
Reduced carbon footprint by 3 tons per car since the start of Polestar 2 deliveries in 2020: Polestar has made significant environmental progress by reducing the carbon emissions associated with the production of each Polestar 2 car by 3 tons since they began delivering these vehicles in 2020.
Collaborating with Mobileye on autonomous driving technology for Polestar 4: Polestar is working in partnership with Mobileye to incorporate autonomous driving technology into their upcoming Polestar 4 model.
Anticipate initial Polestar 4 deliveries in China before the end of 2023: Polestar expects to start delivering the Polestar 4 in China by the conclusion of 2023.