PSNY - Tesla Rival Polestar's Electric Vehicle Deliveries Soared 123% in the First Half of 2022
On Wednesday, Swedish premium electric vehicle (EV) maker Polestar Automotive Holding (NASDAQ: PSNY) announced its car deliveries for the first half of 2022, reaffirmed its guidance for full-year deliveries, and provided some other statistics indicating strong demand for its Polestar 2 all-electric car, which has a starting price of about $50,000 before the $7,500 maximum U.S. federal tax credit for eligible EVs is applied.
Most EV aficionados are likely familiar with Polestar, as the company has been racking up accolades for the performance and design of its cars nearly as fast as EV pioneer Tesla 's CEO, Elon Musk, has been garnering headlines for backing out of his deal to take over Twitter .
But Polestar is probably a new name for many investors, as its stock just began trading on the Nasdaq late last month. The company was formerly the performance-car unit of Sweden's Volvo Cars, which is owned by China's Geely Automobile Holdings (OTC: GELYF) .
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Tesla Rival Polestar's Electric Vehicle Deliveries Soared 123% in the First Half of 2022