Polestar revenue up 95% to $1 billion

< /p>

Electric car maker Polestar has announced that its revenue for the first half of 2022 increased by 95% to US$1 billion.

The company had a total of $1,041.3 million in the first six months of 2022 and delivered 21,185 cars in the first six months of 2022.

Polestar Automotive Holding UK PLC ("Polestar" or the "Company", Nasdaq: PSNY), the Swedish performance electric car brand, reports financial results for the first six months of 2022. < /p>

Thomas Ingenlath, CEO of Polestar, comments: “We made significant progress in the first half of 2022, doubling our revenues and volumes, and successfully listing on the Nasdaq Stock Exchange in New York. Additionally, we have maintained strong momentum in our global order intake and expect to deliver 50,000 cars to our customers this year, in line with our 2022 sales forecast. With several breakthrough cars to come, Polestar is poised for a period of rapid growth."

To meet Polestar's working capital needs, over the past three months Polestar has repaid two existing loans and entered into two new 12-month unsecured working capital loan agreements with two banks in China, for a total of approximately 200 million USD. Additionally, at the end of August 2022, Polestar entered into an additional credit facility with one of these banks for approximately $145 million.

You can find more details on Polestar's revenue and sales for the first half of 2022 by clicking the link below.

Source Polestar

Filed Under: Auto News Latest geek gadget deals