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Polestar Decreases 2022 Delivery Plan By 15,000 Citing Chinese Lockdowns

May 20, 2022

Polestar had a good 2021 and a great start to 2022, reporting impressive sales in the first quarter of the year. Through April of this year, the manufacturer delivered some 13,600 vehicles and added 23,000 new orders, the latter being three times more than during the same time frame in 2021, when the entire world was more affected by the pandemic.

However, China is still severely affected by the pandemic and its drastic lockdowns are affecting businesses that operate in the country. And even though Polestar is doing quite well and is on the upswing, the manufacturer recently adjusted its delivery plan for 2022, cutting some 15,000 units, now expecting to deliver 50,000 by the end of the year.

In a recent press release detailing its strong sales start in 2022, as well as its continued growth and expansion, but also that its production outlook for the year would be affected by the Chinese lockdown situation. Polestar manufacturers all its vehicles in China, so it will be more affected than other brands that also have operations outside the People’s Republic.

According to Thomas Ingenlath, Polestar CEO,

We promised growth and we are delivering on that promise. The fundamentals driving the growth in sales of electric cars remain in place and the momentum is stronger than the uncertainties we are witnessing right now. Any short- to medium-term economic effects have not dented our goal of selling 290,000 cars in 2025 – 10 times more than we sold in 2021.

We believe our future growth will be further accelerated by our entry into the lucrative SUV market later this year with the world premiere in October of the long-awaited Polestar 3 electric performance SUV. Polestar 3, which will be manufactured in the US and China, will stand out amongst other SUV offerings and boost our strong growth trajectory to take us into our next phase.

Polestar has been trying to draw a lot of attention to the imminent launch of the Polestar 3 SUV (pictured in the opening photo0, the first high-rider built under this brand, as it expects the model to become its most popular. Its current best-seller is the Polestar 2, a vehicle whose body style straddles the line between sedans and crossovers, offering a car-like driving experience that’s just a little higher off the ground.

Originally published at https://insideevs.com/news/587095/polestar-cuts-2022-delivery-plan-china-lockdown/

This news story originally appeared at Aviation News - on 20 May 2022