GELYF - This Electric-Car Start-Up Is Already Growing Sales Quickly -- and It'll Soon Be Public
Polestar, the electric-vehicle "start-up" owned by Volvo Cars and Chinese automaker Geely Automobile (OTC: GELYF) , said on Dec. 2 that it expects to deliver about 29,000 vehicles in 2021 -- and it expects sales to rise to about 290,000 vehicles per year by 2025.
Speaking at an event for analysts and media in New York ahead of the company's planned stock market debut next year, Polestar CEO Thomas Ingenlath also shared the first images of the company's third model, a sporty electric SUV called the Polestar 3, and confirmed plans to rapidly expand its dealer network.
Ingenlath said that the new model will "in time" offer autonomous highway driving using advanced lidar sensors from Luminar Technologies and Nvidia computer processors. Production of the Polestar 3 will begin next year at a Volvo Cars assembly plant in South Carolina.
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This Electric-Car "Start-Up" Is Already Growing Sales Quickly -- and It'll Soon Be Public