Polestar (PSNY) just hit a major electric vehicle delivery goal in the nick of time

Polestar (PSNY) has been executing all year, and according to CEO Thomas Ingenlath, the hard work is paying off – the company just surpassed its electric vehicle delivery goal for 2022.

Polestar hits 50,000 electric vehicle delivery goal

If you’re seeing more Polestar EVs on the road, it’s not just you. The automaker has been racing to meet demand. Polestar is striving to accelerate the shift to sustainable mobility going beyond just producing zero-emission cars and pushing for more transparency in the industry.

The young EV maker is quickly building its brand. In April, Polestar partnered with rental giant Hertz to provide up to 65,0000 EVs. Polestar went public in June under the ticker PSNY, accelerating its growth strategy with a new platform and sources of funding.

The Polestar 3, the company’s first electric SUV, officially made its debut in October with a 300-mile range and a price tag of $84,000. Polestar plans to expand its EV lineup with another SUV, the Polestar 4, in 2023 and the Polestar 5 sports sedan in 2024. More recently, Polestar says its planning for a “new era for sports cars” with its Polestar 6 electric roadster.

Although Polestar is projecting into the future with its new electric vehicle models, the company is delivering on its goals in the present. The Swedish EV maker, backed by auto giants Volvo and Geely, has reiterated for the past several months, it’s on track to hit 50,000 electric vehicle deliveries by the end of the year.

Polestar’s CEO, Thomas Ingelath, said on the company’s third-quarter earnings call, “we are a real car company, we are in production, we are putting cars on the road today, and we are delivering on our ambitious growth plan.”

It seems he wasn’t bluffing. Ingelath posted on his Twitter Friday, saying in December, Polestar has been on a mission with an all-time high electric vehicle delivery total, adding “mission accomplished” with a checkmark at the end.

Thomas Ingenlath Polestar CEO Twitter

And to solidify it, Ingenlath replied to a comment on a previous post that read, “also, next important step is announcing that the 50K production goal has been met,” with a champagne emoji, in an apparent celebratory tribute.

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Avatar for Peter Johnson Peter Johnson

Peter Johnson is covering the auto industry’s step-by-step transformation to electric vehicles. He is an experienced investor, financial writer, and EV enthusiast. His enthusiasm for electric vehicles, primarily Tesla, is a significant reason he pursued a career in investments. If he isn’t telling you about his latest 10K findings, you can find him enjoying the outdoors or exercising