Polestar has outlined its mid-term plan concerning new models and sales volume ahead of going public through a merger with a special-purpose acquisition company (Gores Guggenheim) in 2022.
While the sales reached 29,000 units in 2021, in 2022 the company intends to sell about 65,000 electric cars (taking into account chip shortages). That would be about a 124% increase year-over-year.
In the next few years, Polestar aims to increase sales tenfold (vs. 2021 level) to 290,000 per year by 2025.
According to the plan, breakeven should be reached in 2023 - we guess that by then, the company would like to be at 100,000+ units per year.
Five BEV models and new production sites
Polestar CEO Thomas Ingenlath, in an Automotive News' interview, reveals that the company will expand its manufacturing sites, simply following "where the car's architecture is being produced" (at Volvo's plants).
Currently, the Polestar EVs are produced in China (P1 in Chengdu, while the P2 in Luqiao). The next step will be the launch of Polestar 3 at Volvo's plant in Charleston, South Carolina. At some point in the future, an additional European plant will start production of some of the Polestar models.
"In the future, we will have U.S. production in South Carolina, starting with the Polestar 3. As our lineup grows, we will go to Europe, because we want to have production in all three major regions. Therefore, we will not end up being China-dependent with our production."
The model lineup will be expanded by several new cars:
- Polestar 1 - low-volume, flagship PHEV
- Polestar 2 - current BEV, based on Volvo's CMA platform
- Polestar 3 - SUV
- Polestar 4 - SUV
- Polestar 5 - "fastback sedan" (like the P2)
When asked about the differentiation from Volvo, which will be using basically the same platforms (and plants), Thomas Ingenlath said:
"The aim of the Polestar range is to be sportier and to have a stronger focus on the driver. Even if it's an SUV such as the Polestar 3, it will have a sleek silhouette, meaning there will be less emphasis on cargo space and more emphasis on the propulsion. It will also have a more daring design.
I have always said that a Volvo should not provoke people. It should have a very high acceptance from each and every customer profile. A Polestar will be more progressive and avant-garde; therefore, it will not be loved by everybody, but it will address its fans."