PSNY - Polestar rallies after recording deliveries for the first half of the year

2023-07-06 08:15:08 ET

Polestar Automotive Holding ( NASDAQ: PSNY ) said it achieved its best ever second quarter, with annual growth of 36% to 15,800 vehicles delivered. With record global deliveries of around 27,900 for the first six months of the year, the electric vehicle maker said it is on track to deliver 60,000 to 70,000 vehicles in 2023.

"As expected, deliveries have continued to gather pace from month to month, resulting in a record second quarter," noted CEO Thomas Ingenlath. Polestar ( PSNY ) management said it is confident that the trend will continue into the seasonally stronger second half of the year.

Looking ahead, the first deliveries of the significantly upgraded Polestar 2 are expected in the second half of the year. In addition, more than 20 permanent Polestar Spaces are planned to open over the coming months, as the company expand its footprint and shifts from temporary locations into larger facilities. The Polestar Spaces locations will also display Polestar 3 cars in the coming weeks.

Shares of Polestar Automotive ( PSNY ) moved up 5.15% in premarket trading on Thursday.

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