Nasdaq on Geely-owned Polestar lists

Polestar has been listed on the Nasdaq stock exchange. The US listing marks a significant milestone for the electric-premium car brand that launched in 2017.

“This is a hugely proud moment for the entire team at Polestar,” says Thomas Ingenlath, CEO of Polestar. “We will now open a new chapter in our story that can be summarized in one word – growth. By 2025 we aim to sell 290,000 cars per year, 10 times as many as we sell in 2021. We already have a real and successful business; This listing gives us the funds and platform to help deliver our ambitious future plans and drive industry-leading sustainability goals. ”

The Nasdaq trading debut follows a strong start to 2022. Polestar recently announced record sales for the year to date, and robust global customer orders for Polestar 2, its all-electric fastback, over 32,000, an increase of 290% versus the same period 2021. Polestar also increased its presence to 25 markets, up from 19 at the end of 2021, supporting approximately 130 retail locations.

Thomas Ingenlath continues: “We are adding three new premium electric cars to our line-up by 2024, with the launch of our first SUV, the Polestar 3, later this year. This is the most attractive, high-margin, global EV segments in Polestars growth.

Polestar will open the ring at Nasdaq in New York City on June 28 as a publicly traded company. A live stream of the event can be viewed online at https://livestream.com/accounts/27896496/events/10423292.

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