Polestar announced that it has delivered record sales in the first four months of 2022. The company said that it has more than doubled sales as it pushed out 13,600 units from its factory. The order intake has more than tripled as well to nearly 23,000 compared to the same period in 2021. During the period, Polestar increased its global presence to 23 markets, up from 19 at the end of 2021, putting the company on track to meet its target of 30 markets in aggregate by the end of 2023. New markets in the Middle East and Europe will be joined by Spain and Portugal imminently. Plans are underway to begin operations in Israel and Italy later in 2022.
In addition, Polestar has announced a global partnership with the car rental company Hertz to supply 65,000 cars over the next five years. As a result of prolonged government COVID-19 lockdowns in China during the first half of 2022, Polestar has now announced a reduction to the number of customer vehicle sales that it will be able to deliver in 2022 from 65,000 to approximately 50,000.
The reduction for 2022 is 100% attributable to the lockdowns in China. Polestar, along with its partners Volvo Cars and Geely, continues to actively manage these ongoing supply chain challenges, as it did in 2021 when the company delivered approximately 29,000 vehicles. Through an implementation of a rapid response plan, including an accelerated introduction of a second production shift at the factory, Polestar plans to recover some of the production loss it has suffered later in the year and remains confident it will deliver its targeted sales volumes for 2023 through 2025.